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☆ SoftBank is betting on AI and an IPO revival after swinging to a $7.7 billion profit
▼ + stars: | 2024-11-12 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

SoftBank reported a $7.7 billion quarterly profit on Tuesday after a loss last year. SoftBank Vision Fund's CFO told BI that "macro tailwinds" helped its public portfolio. AdvertisementGains for its Vision Fund 1, a $98.6 billion investment vehicle launched in 2016 with backing from Abu Dhabi and Saudi Arabia's sovereign wealth funds, totaled $3 billion in the second quarter. Despite the investment gain, Vision Fund 2 has lost an overall total of $21 billion since its inception. The results come as SoftBank gears up for a huge investment spree in AI to realize Son's ambitious vision.

Persons: SoftBank, —, Masayoshi, Didi Chuxing, Navneet Govil, Ola, Govil, PayPay Organizations: Service, Funds, Vision, IPOs, Nvidia Locations: Abu Dhabi, Saudi, China, OpenAI, Mexico, India, ByteDance

☆ OpenAI is reportedly struggling to improve its next big AI model. It's a warning for the entire AI industry.
▼ + stars: | 2024-11-11 | by ( Hasan Chowdhury | Beatrice Nolan | ) www.businessinsider.com time to read: +7 min

It reignites a debate about the feasibility of developing increasingly advanced models and AI scaling laws — the theoretical rules about how the models improve. It remains to be seen how smart an AI model can get when it has that much capital thrown at it. There could also be strategies to make AI models smarter by enhancing the inference portion of development. The model OpenAI released in September — called OpenAI o1 — focused more on inference improvements. Still, it's clear that, like Altman, much of the industry remains firm in its conviction that scaling laws are the driver of AI performance.

Persons: OpenAI's, It's, —, Sam Altman, Fabrice Beaulieu, Altman, OpenAI, Andrew Caballero, Reynolds, Ion Stoica, Gary Marcus, Anthropic, Marcus, Claude, Ilya Sutskever, Dario Amodei, Kevin Scott, we're, Scott, they've Organizations: Service, OpenAI's, Orion, Business, Getty, Companies, New York University, Reuters, Sequoia, o1 Locations: GPT, Silicon Valley, AFP

☆ Meet Glean, the enterprise AI search company that's so powerful Sam Altman deemed it a threat to OpenAI
▼ + stars: | 2024-10-31 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +10 min

Among them are Anthropic, Elon Musk's xAI, OpenAI cofounder Ilya Sutskever's Safe Superintelligence, and AI search startup Perplexity. The last of the five rivals, and perhaps the least well-known, is Glean, an enterprise search assistant. Founded in 2019 by Rubrik cofounder and ex-Googler Arvind Jain, Glean helps corporate workers find information across their companies' tools and data. Related Video Sam Altman moves to Microsoft after OpenAI fires him as CEOThe company enables AI search by integrating apps like Slack and Dropbox and powering search across their company's universe of data. AdvertisementBesides enterprise search, Glean also has an AI assistant that generates answers based on search results, such as summarizing the day's Slack messages or synthesizing multiple documents.

Persons: Glean, Jain, —, Sam Altman, Elon Musk's, Ilya Sutskever's, Googler Arvind Jain, Kleiner Perkins, Deedy Das, Larry Page, Das, Bipul Sinha, Rubrik, Mamoon Hamid, Vishwanath, Tony Gentilcore, Piyush Prahladka, …, Arvind, Hamid, Paul, Rajeev Dham, they're, Slack, Altman, It's Organizations: Google, Service, Elon Musk's xAI, DST Global, Sapphire Ventures, Sequoia, Microsoft, Sony Electronics, Entrepreneurship, Indian Institute of Technology, IIT, Menlo Ventures, IIT Delhi, University of Washington, Akamai Technologies, Technology, YouTube, Kleiner Locations: Jaipur, Indian, IIT Delhi, India, Glean, Seattle

☆ VCs are 'hedging their bets,' backing competing LLMs like Anthropic and OpenAI, breaking a long-standing venture taboo
▼ + stars: | 2024-10-26 | by ( Ben Bergman | Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

Venture firms are increasingly investing in competing LLM startups like OpenAI and xAI. Some VCs argue investing in multiple LLMs is strategic, while others see it as unethical. AdvertisementWhen venture firms pull out their checkbooks, there has traditionally been an unspoken rule: Do not back a competitor. Sound Ventures and Wisdom Ventures backed both OpenAI and Anthropic. There is also the matter of money, with only a handful of firms capable of writing the colossal checks required to fund LLM companies.

Persons: VCs, —, Joe Aaron, — Sheel, Andreessen Horowitz, Elon Musk's XAI, Ilya Sutskever, Umesh Padval, Padval, Anthropic, OpenAI, Gregg Hill, they've Organizations: Service, Sequoia Capital, Fidelity, Ark Invest, Sound Ventures, Wisdom Ventures, Thomvest Ventures, Parkway Venture, Madrona Ventures, NASDAQ Locations: OpenAI, Canadian

☆ Another safety researcher is leaving OpenAI
▼ + stars: | 2024-10-24 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +2 min

Miles Brundage, who advises OpenAI leadership on safety and policy, announced his departure. The AGI Readiness team he oversaw will be disbanded. AdvertisementMiles Brundage, a senior policy advisor and head of the AGI Readiness team at OpenAI, is leaving the company. Brundage is the latest high-profile safety researcher to leave OpenAI. AdvertisementHe's been responsible for some of OpenAI's biggest innovations in safety research, including instituting external red teaming, which involves outside experts looking for potential problems in OpenAI products.

Persons: Miles Brundage, OpenAI, —, Brundage, Jan Leike, Ilya Sutskever, Mira Murati, Bob McGrew, Barret Zoph, He's Organizations: AGI, Service Locations: OpenAI

☆ This is OpenAI CEO Sam Altman's favorite question about AGI
▼ + stars: | 2024-10-19 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Earlier this year, Sam Altman discussed the future of artificial general intelligence at Harvard. Altman said he envisions AGI as a tool to enhance productivity and create shared intelligence. OpenAI's mission is to develop AGI, a form of intelligence that mimics human reasoning. AdvertisementSam Altman, the CEO of OpenAI, is always in the media spotlight, fielding many questions. It showed him one part of "what the post-AGI world can look like," Altman said on the Life in Seven Songs podcast.

Persons: Sam Altman, Altman, —, Patrick Chung, OpenAI, AGI, — Altman, we're, it'll, Rob Price Organizations: Harvard, Service, Harvard Business School

☆ AI labs are fragmenting because of ego clashes and commercial pressures. It's about to drive a wave of new startups.
▼ + stars: | 2024-10-15 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

There is an impending wave of new startups spinning out of larger AI labs, per Air Street Capital's State of AI report. AI labs are fragmenting due to ego clashes, philosophical disagreements, and commercial pressures. But as AI labs work towards the sector's holy grail, known as artificial general intelligence, those personalities have clashed — sometimes leading to a very public parting of ways. They are just some of the examples in a long line of AI labs that have fractured away from their juggernaut predecessors to form new startups. The exception would be if AI labs pivot toward building a niche model within a specific vertical, he said.

Persons: —, Ilya Sutskever, Andreessen Horowitz, StabilityAI's, H's cofounders, Sam Altman, Noel Hurley, they're, Nathan Benaich, Samir Kumar, Kumar, Peter J, Liu, Hurley, Benaich Organizations: Service, Sequoia, Black, Labs, TechCrunch, Accel, UiPath, NEA, Founders, Air Street Capital, Literal Labs, Touring Capital, Meta, Google Locations: Capital's, Paris, Sutskever

☆ OpenAI is accusing Elon Musk of harassing the startup. It's the latest escalation in a long-running feud.
▼ + stars: | 2024-10-09 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

OpenAI has fired back at Elon Musk's latest lawsuit. Musk's lawyers have argued that OpenAI executives "deceived" him into cofounding the company. AdvertisementIn response to Musk's lawsuit, OpenAI called it the latest move in Musk's "increasingly blusterous campaign to harass OpenAI for his own competitive advantage." "OpenAI is dedicated to the safe and beneficial development of artificial general intelligence ("AGI")," OpenAI's lawyers said in a court filing on Tuesday. A long-running feudIn March, Musk first sued OpenAI on similar grounds but later dropped the suit in June.

Persons: OpenAI, —, Musk, Tesla, Sam Altman, He's, xAI, Ilya Sutskever's, Mira Muta, Ilya Sutskever Organizations: Elon, Service, Musk, Business, Microsoft Locations: Musk's

☆ OpenAI backer Vinod Khosla on why all the executive departures may be a good thing, taking on Elon Musk, and fixing AI's image problem
▼ + stars: | 2024-10-08 | by ( Ben Bergman | ) www.businessinsider.com time to read: +4 min

Khosla Ventures was the first investor in OpenAI when it switched to a "capped-profit" model in 2018. When OpenAI switched from a non-profit to a "capped-profit" company in 2018, he put his money where his mouth was when Khosla Ventures stepped forward with the first check. While some notable earlier investors sat out this round, such as Sequoia Capital, sat out this round, Khosla Ventures doubled down. "There's plenty of companies in the public markets that have higher revenue multiples with much lower growth than OpenAI," Khosla said during an interview this week. Advertisement"I think a number of people who left recently really want to start something of their own, but the organization is also being rationalized for agility and speed," Khosla said.

Persons: Khosla, —, Vinod Khosla, OpenAI, Mira Murati, Ilya Sutskever, Andrej Karpathy, John Schulman, Sam, Altman, Sutskever, X, 4chan Khosla, Donald Trump, Elon Musk, Musk Organizations: Khosla Ventures, Service, Sequoia Capital, 4chan, 4Chan Locations: OpenAI, Silicon Valley, It's

☆ There are 3 signs that generative AI might be reaching peak market froth — and it's not just OpenAI
▼ + stars: | 2024-10-05 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +8 min

There are signs across AI models, chips, and new form factors that the market is getting frothy. Investors spent the summer wondering if top AI stocks could continue to justify soaring valuations in the face of absent returns from their massive AI spending. Now, signs have emerged that they're not yet done with generative AI mania. OpenAI reaches dizzying new heightsSam Altman's OpenAI secured a $157 billion valuation after raising $6.6 billion in its latest funding round. In short, a lossmaking startup must justify its $157 billion valuation.

Persons: Cerebras, —, Andrew Feldman, Ramsey Cardy Cerebras, here's, Abu, Cerebras —, Altman's OpenAI, OpenAI, Elon Musk's xAI, OpenAI's, Ilya Sutskever, Gary Marcus, OpenAI's Sam Altman, David Sacks, Darius Rafieyan, Mira Murati, Mark Zuckerberg, Andrej Sokolow, frothiness, Jensen Huang, Alex Heath, Rahul Prasad, Snapchat Organizations: Nvidia, Service, Investors, Microsoft, Saudi Aramco, Bloomberg, OpenAI, LLMs, Financial Times, Anthropic, Craft Ventures, Tiger Global, The New York Times, Getty, company's Connect, Meta, Orion Locations: Sunnyvale, Abu Dhabi, Silver, Saudi, Silicon Valley, —

☆ OpenAI has secured a $157 billion valuation. Now comes the hard part.
▼ + stars: | 2024-10-03 | by ( Hasan Chowdhury | Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

OpenAI is now worth $157 billion, but it can't rest easy yet. Now comes the hard part: emerging victorious in a fiercely competitive AI industry. Though Sam Altman's company cemented its status as a frontrunner in the generative AI boom this week, securing a new $157 billion valuation after raising $6.6 billion of fresh capital from marquee investors, its leading position is hardly guaranteed. Sure, Altman's company now casts a massive shadow over the industry with its fresh $157 billion valuation. AI companies have been spending huge sums to purchase chips from Jensen Huang's Nvidia.

Persons: OpenAI, —, Sam Altman's, Sam Altman, Andrew Caballero, Reynolds, Altman, Elon Musk's, Ilya Sutskever, Nathan Benaich, Dario Amodei, Jensen, Jeff Chiu, Benaich, it's, VCs Organizations: Service, Valley's, Financial, Nvidia, SoftBank, Microsoft, Elon, Air Street Capital, The New York Times, Google, Big Tech, Meta Locations: Silicon Valley, AFP

☆ Elon Musk called OpenAI 'evil' for telling investors not to fund his company and other rivals
▼ + stars: | 2024-10-03 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

OpenAI just secured $6.6 billion in its latest funding round. The company asked investors not to back its rivals like Elon Musk's xAI, per Reuters. Musk, who is in an ongoing feud with OpenAI, called the company "evil." That funding round, which included big-name investors like Thrive Capital, Microsoft, and Nvidia, had a stipulation that Musk isn't so happy with: Don't support OpenAI's rivals. Some of OpenAI's investors have already backed other AI startups.

Persons: OpenAI, Elon Musk's, Musk, —, Elon Musk, Sam Altman, Anthropic, Ilya Sutskever's, Musk's, Altman Organizations: Elon, Elon Musk's xAI, Reuters, Service, Microsoft, Nvidia, Financial Times, OpenAI, Street Locations: OpenAI

☆ Here's where OpenAI's 11 cofounders are now
▼ + stars: | 2024-10-03 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +7 min

Most of OpenAI's cofounders have left the startup, with some going to rivals. Here's where all 11 of its cofounders are now and how many remain at the $157 billion company. Here's where all of the 11 cofounders are now. According to her LinkedIn profile, she used to work at Facebook as an AI research engineer before joining Stripe as a software engineer in 2016. OpenAI and none of its 11 cofounders immediately responded to Business Insider's requests for comment, made outside normal working hours.

Persons: it's, Sam Altman, —, OpenAI, Mira Murati, Barret Zoph, Bob McGrew, Ilya Sutskever, John Schulman, Anthropic, Jason Redmond, Altman, John Schulman Schulman, OpenAI's, Jan Leike, Schulman, Wojciech Zaremba Zaremba, Zaremba, Ekon, Musk, Ilya Sutskever Ilya Sutskever, JACK GUEZ, Getty Sutskever, Sustkever, Sustskever, Greg Brockman Brockman, he's, Kingma, Andrej Karpathy Andrej Karpathy, Karpathy, Vicki Cheung Cheung, Elon, Elon Musk, ALAIN JOCARD, Brockman, cofounding OpenAI, Pamela Vagata Vagata, Trevor Blackwell Blackwell, cofounders Organizations: Here's, Service, Getty, OpenAI's Superalignment, OpenAI, Inc, Google DeepMind, Anthropic, Tesla, San Francisco Chronicle, Hearst Newspapers, Getty Images Research, Eureka Labs, SpaceX, The Boring Company, Facebook Locations: AFP, OpenAI, cofounding, Pebblebed

☆ VCs are rushing to meet with former OpenAI CTO Mira Murati in hopes of funding a new company
▼ + stars: | 2024-09-30 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +4 min

Mira Murati announced her departure from OpenAI last week. In an X post, Murati wrote, "I'm stepping away because I want to create the time and space to do my own exploration." AdvertisementVenture capitalists are clamoring to meet with Mira Murati, the former CTO of OpenAI, as Silicon Valley expects her to start her own company soon. In a X post, Murati announced her departure from OpenAI last week. Murati wrote, "My six-and-half years with the OpenAI team have been an extraordinary privilege…There's never an ideal time to step away from a place one cherishes, yet this moment feels right."

Persons: Mira Murati, OpenAI, Murati, Ilya Sutskever, —, … There's, Andrej Karpathy, Anthropic, Dario Amodei, Aravind Srinivas, Sam Altman, Mira, Bob McGrew, Barret Zoph, –, Altman, Wojciech Zaremba, Zaremba Organizations: Service, Venture, Business, OpenAI, Eureka Labs, San, supercomputing, Tesla, Microsoft, Altman, Reuters Locations: Silicon, OpenAI, San Francisco

OpenAI is said to be closing a funding round that could value the company at as much as $150 billion. "Kushner is betting the ranch on OpenAI and Sam Altman just as Masa Son pledged 40% of his Vision Fund on Yahoo and Jerry Yang. "Second, Sam Altman has proven himself to be one of the greatest tech founders of this generation. Sam Altman has said that AI superintelligence could be a reality within "a few thousand days ." "Everybody wants Sam Altman at the helm, and they're willing to do anything to keep him as the CEO.

Persons: OpenAI, —, Sam Altman, ChatGPT, Mira Murati, Bob McGrew, Barret Zoph, Murati's, John Schulman's, Joe Aaron, Aaron, Capital's Josh Kushner, Kushner, Masa Son, Jerry Yang, Jerry Yang wasn't, Jai Das, Goldman Sachs, who's, Altman, they've, Ben Narasin, They're Organizations: Service, Research, Post, Reuters, Nvidia, Apple, Fund, Yahoo, Sapphire Ventures, Venture Locations: Silicon, UAE, OpenAI

☆ Sam Altman believes wars will be fought over AI unless there's massive spending on infrastructure. But that comes with a cost.
▼ + stars: | 2024-09-25 | by ( Katherine Tangalakis-Lippert | ) www.businessinsider.com time to read: +8 min

Read previewIn a Monday blog post, OpenAI CEO Sam Altman argued that massive investment in AI infrastructure is key to market dominance — and avoiding global conflict. "If we don't build enough infrastructure, AI will be a very limited resource that wars get fought over, and that becomes mostly a tool for rich people." Representatives for OpenAI did not respond to a request for comment from Business Insider. He noted that data centers consume tons of water for their cooling systems — some of which evaporates, so it cannot be reused. "Any human endeavor that involves an optimization challenge can be made more efficient through artificial intelligence," Coglianese said.

Persons: —, Sam Altman, Altman, OpenAI, Alex de Vries, de Vries, Goldman Sachs, Shaolei Ren, he's, Ren, Cary Coglianese, Coglianese, we'll, I'm Organizations: Service, Business, Microsoft, BlackRock, White, Meta, Big Tech, University of California, University of Pennsylvania Locations: United States, United Nations, Riverside

☆ Sam Altman used to be 'super anti-Burning Man.' Now he's a fan and sees it as how the world could look after AGI
▼ + stars: | 2024-09-24 | by ( Ana Altchek | ) www.businessinsider.com time to read: +5 min

OpenAI CEO Sam Altman used to be "super anti-Burning Man." Altman said on the podcast he's been to Burning Man five or six times. "Everyone so happy, so engaged, so present that I was like, 'OK, I was wrong to be so negative on Burning Man.'" A photo of Burning Man attendees on the playa of Black Rock City. "This is one possible, like, part of what the post-AGI world can look like," Altman said on the podcast.

Persons: Sam Altman, Altman, he's, Aly Weisman Altman, we'll, everyone's, — Organizations: Service, Business, bros, Black Rock City . Business Locations: Nevada's, Black Rock

☆ The core crew that helped Sam Altman start OpenAI has dwindled from 10 to 2
▼ + stars: | 2024-08-06 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +5 min

"We're grateful for John's contributions as a founding team member at OpenAI and his dedicated efforts in advancing alignment research," OpenAI said in a statement to TechCrunch. (I first met John in a cafe in Berkeley in… — Sam Altman (@sama) August 6, 2024This makes Schulman the eighth cofounder who has left OpenAI since its founding in 2015. — Greg Brockman (@gdb) August 6, 2024Besides Schulman, OpenAI has seen multiple exits among its leadership ranks in recent months. In May, OpenAI co-founder and chief scientist Ilya Sutskever announced his resignation from the company. To be sure, not everyone has left OpenAI on such acrimonious terms.

Persons: —, John Schulman, Schulman, Altman, OpenAI, John, … — Sam Altman, — Altman, Wojciech Zaremba, Greg Brockman, Brockman, Ilya Sutskever, he'd, OpenAI's, Jan Leike, Leike, Elon Musk, Musk, Roboticist Trevor Blackwell, Vicki Cheung, Durk Kingma, Pamela Vagata, Andrej Karpathy, Karpathy, Tesla, OpenAI didn't Organizations: Service, Business, Superintelligence Inc, OpenAI, Microsoft, Google, ChatGPT, EV giant's, Business Insider Locations: OpenAI, Berkeley, …

☆ OpenAI co-founder John Schulman says he will leave and join rival Anthropic
▼ + stars: | 2024-08-06 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

OpenAI co-founder John Schulman said in a Monday X post that he would leave the Microsoft -backed company and join Anthropic, an artificial intelligence startup with funding from Amazon . In June, OpenAI said Schulman, as head of alignment science, would join a safety and security committee that would provide advice to the board. Schulman has only worked at OpenAI since receiving a Ph.D. in computer science in 2016 from the University of California, Berkeley. The leaders of the superalignment team, Jan Leike and company co-founder Ilya Sutskever, both left this year. Also on Monday, Greg Brockman, another co-founder of OpenAI and its president, announced that he was taking a sabbatical for the rest of the year.

Persons: ChatGPT, OpenAI, John Schulman, Schulman, OpenAI's, Jan Leike, Ilya Sutskever, Leike, Sutskever, Sam Altman, Altman, Tasha McCauley, Helen Toner, Toner, WilmerHale, Greg Brockman Organizations: Darktrace Plc, Microsoft, Amazon, OpenAI, University of California, Anthropic, Superintelligence Inc, Google, Employees, AI Safety Locations: Brooklyn, New York, British, Berkeley, Francisco

☆ Goldman's global head of equity research shares 2 fundamental issues with the AI craze — and how to prepare for a bubble pop
▼ + stars: | 2024-07-19 | by ( Christine Ji | ) www.businessinsider.com time to read: +10 min

And to him, AI doesn't exhibit the signs of a truly groundbreaking innovation like the ones he's seen before. AdvertisementAI comes with a trillion-dollar price tagIt's no secret that AI technology isn't cheap. Advertisement"A lot of people say, 'Well, we'll be able to replace call centers with AI,'" Covello said. However, once it encounters unfamiliar situations outside its training set, AI doesn't have the ability to reason like humans do. If AI doesn't actually have the ability to conduct higher-order reasoning, it won't leave a trillion-dollar impact on the economy.

Persons: —, Goldman Sachs's Jim Covello, Covello, Goldman Sachs, it's, buildout, we'll, Tesla, who've Organizations: Service, Business, Investors, Nvidia, Amazon, CVS, Big Tech Locations: Netherlands

☆ A former OpenAI safety employee said he quit because the company's leaders were 'building the Titanic' and wanted 'newer, shinier' things to sell
▼ + stars: | 2024-07-10 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

Read previewA former safety employee at OpenAI said the company is following in the footsteps of White Star Line, the company that built the Titanic. Was the path that OpenAI was on more like the Apollo program or more like the Titanic?" Apollo vs TitanicAs Saunders spent more time at OpenAI, he felt leaders were making decisions more akin to "building the Titanic, prioritizing getting out newer, shinier products." OpenAI did not immediately respond to a request for comment sent outside regular business hours by Business Insider. Meanwhile, OpenAI cofounder and former chief scientist Ilya Sutskever, who led the firm's superalignment division, resigned later that month.

Persons: —, OpenAI, William Saunders, OpenAI's, Alex Kantrowitz's, Saunders, Ilya Sutskever, JACK GUEZ, Kantrowitz, he's, Saunders — Organizations: Service, White Star Line, Business, Artificial, Intelligence, White Star, Apollo, NASA, BI, OpenAI, Getty, Tech, Apple, Google, Superintelligence Inc Locations: OpenAI, Russia, AFP

☆ Nvidia’s shares are on fire. The broader stock market looks less rosy
▼ + stars: | 2024-06-21 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Nvidia’s eye-popping gains this year have helped propel the stock market to repeated record highs. Can Nvidia’s blockbuster gains continue, and what does its outsized market cap mean for the stock rally? Now everyone says, “the market is dependent on Nvidia’s earnings.” You’re going to see a kind of a shift in market cap over the years. “These lower mortgage rates coupled with the gradually improving housing supply bodes well for the housing market.”Still, mortgage rates remain higher than anything seen in the decade before 2022, the year the Federal Reserve began to raise interest rates to combat inflation. The Fed doesn’t directly set mortgage rates but its actions do influence them through the benchmark 10-year US Treasury yield, which moves in anticipation of the Fed’s policy moves.

Persons: OpenAI’s, Bell, Christopher Barto, ” You’re, Bryan Mena, Freddie Mac, ”, Sam Khater, Freddie Mac’s, don’t, Read, Ilya Sutskever, Clare Duffy, Sutskever, Geoffrey Hinton Organizations: CNN Business, Bell, New York CNN, Nvidia, Microsoft, Fort Pitt Capital Group, Apple, Meta, Google, Amazon, “, Federal Reserve, Treasury, Superintelligence Inc, SSI Locations: New York

☆ He tried to oust OpenAI’s CEO. Now, he’s starting a ‘safe’ rival
▼ + stars: | 2024-06-20 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —The OpenAI co-founder who left the high-flying artificial intelligence startup last month has announced his next venture: a company dedicated to building safe, powerful artificial intelligence that could become a rival to his old employer. Ilya Sutskever announced plans for the new company, aptly named Safe Superintelligence Inc., in a post on X Wednesday. Sutskever then worked on Google’s AI research team, before helping to found what would become the maker of ChatGPT. It’s also not clear exactly what the new company thinks of as “safety” in the context of highly powerful artificial intelligence technology. “By safe, we mean safe like nuclear safety as opposed to safe as in ‘trust and safety,’” Sutskever told Bloomberg in an interview published Tuesday.

Persons: Ilya Sutskever, Sutskever, Geoffrey Hinton, Sam Altman, Altman, Kara Swisher, ”, It’s, ” Sutskever, OpenAI, Jan Leike, Daniel Levy, Daniel Gross Organizations: New, New York CNN, Superintelligence Inc, SSI, Google, CNN, Bloomberg, Apple Locations: New York, OpenAI, “, Palo Alto , California, Tel Aviv, Israel

☆ The man who dared to revolt against Sam Altman at OpenAI just started a research lab promoting 'safe superintelligence'
▼ + stars: | 2024-06-20 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

Read previewOpenAI cofounder and former chief scientist Ilya Sutskever announced his new venture on Wednesday — a research lab committed to developing "safe superintelligence." "I am starting a new company," Sutskever said of his new project, Safe Superintelligence Inc. (SSI) in an X post. I am starting a new company: https://t.co/BG3K3SI3A1 — Ilya Sutskever (@ilyasut) June 19, 2024According to SSI's website, the lab has "one goal and one product: a safe superintelligence." AdvertisementRepresentatives for Safe Superintelligence and OpenAI didn't immediately respond to requests for comment from BI sent outside regular business hours. Following Altman's return, Sutskever appeared to have been shut out of OpenAI, BI reported in December, citing people familiar with the situation.

Persons: —, Ilya Sutskever, Sutskever, BG3K3SI3A1 — Ilya Sutskever, Daniel Gross, Daniel Levy, Ashlee Vance, Bloomberg's Vance, OpenAI didn't, Elon Musk, Sam Altman's, Altman, Altman's, OpenAI, splintering, Dario, Daniela Amodei Organizations: Service, Superintelligence Inc, Business, SSI, Apple, BI, OpenAI, Amazon, Google Locations: OpenAI

☆ OpenAI Co-Founder, Who Helped Oust Sam Altman, Starts His Own Company
▼ + stars: | 2024-06-19 | by ( Cade Metz | ) www.nytimes.com time to read: 1 min

Ilya Sutskever, the OpenAI co-founder and chief scientist who in November joined other board members to force out Sam Altman, the company’s high-profile chief executive, has helped found a new artificial intelligence company. The new start-up is called Safe Superintelligence. It aims to produce superintelligence — a machine that is more intelligent than humans — in a safe way, according to the company spokeswoman Lulu Cheng Meservey. Dr. Sutskever, who has said he regretted moving against Mr. Altman, declined to comment. She said that as it builds safe superintelligence, the company will not release other products.

Persons: Ilya Sutskever, Sam Altman, Lulu Cheng Meservey, Sutskever, Altman, Meservey Organizations: Mr, Bloomberg Locations: OpenAI

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