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☆ How Google lost its way
▼ + stars: | 2024-02-29 | by ( Hugh Langley | Lara O'Reilly | ) www.businessinsider.com time to read: +17 min

Just two months after Google launched Gemini, its flashy new AI model, the company revealed that it had already built a better version. AdvertisementThen, days later, Google scrambled to explain why its image generation tool spit out racially inaccurate depictions of historical figures. Users have long bemoaned — and researchers recently found — a decline in the quality of Google Search results. The fact that Google is not far and away the self-driving-car leader, it's, like, a total joke," the former Google director said, adding that the problem of Google's lost supremacy is "maybe impossible to solve, frankly." Google now is reminiscent of the Steve Ballmer-era Microsoft, which missed the smartphone, search, and cloud waves and was overtaken by Apple, Google, and Amazon.

Persons: OpenAI, Sora, Sam Altman, Sundar Pichai's, Pichai, —, Larry Page, Sergey Brin, Lea Suzuki, Getty Brin, Page, Google, Googlers, Axel Springer, Diane von Furstenberg, Giovanni Giannoni, Michael Avrukin, Vuk Valcic, wouldn't, Patrick Mork, Eric Lehman, Lehman, ChatGPT, Caesar Sengupta, Sengupta, Alexa, Google's, Steve Ballmer, Satya Nadella, Hugh Langley, Lara O'Reilly Organizations: Google, Hollywood, Industry, San Francisco Chronicle, Business, Penske Media, Microsoft, Amazon, The New York Times, Oracle, YouTube, Apple, IBM, Meta Locations: Silicon Valley, Silicon, —

☆ No, Sam Altman doesn't actually own half a billion dollars of Reddit stock
▼ + stars: | 2024-02-29 | by ( Madeline Berg | Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

Reddit filed for an IPO, revealing nearly 10% of its shares are owned by entities related to Sam Altman. AdvertisementLast week, not long after Reddit made moves toward a public listing, headlines began to appear about an unexpected figure: Sam Altman. For example, Hydrazine Capital II is listed as owning nearly 9.9 million shares of Reddit. But Altman, at most, owns 5% of Hydrazine Capital II's holdings, or 492,720 of its Reddit shares. AdvertisementThe various entities point to a side of Altman — Altman the investor — that has receded from view since he has become known to the public as OpenAI's CEO.

Persons: Reddit, Sam Altman, Altman, —, tech's, Reddit's, that's, he's, Chris Harvey, Altman — Altman, ADVs, Peter Thiel, Cruise, Steve Huffman, Alexis Ohanian Organizations: Service, Business, Securities and Exchange Commission, Harvey, Apollo, Apollo Projects, SPV, SEC, Investors, University of Michigan, Helion Energy, Facebook, Google Locations: Altman

☆ Sam Altman's OpenAI wants to get humanoid robots talking. Here's why.
▼ + stars: | 2024-02-29 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

OpenAI has partnered with Figure AI, a startup developing humanoid robots. OpenAI believes the agreement will open up new pathways for robots to "help in everyday life." download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementOpenAI is betting big on humanoid robots. The ChatGPT creator has signed a collaboration agreement with Figure AI to "develop next generation AI models" for the robots as it believes they can "help in everyday life."

Persons: OpenAI, —, Jeff Bezos, Brad Lightcap, Peter Welinder, OpenAI's, Brett Adcock, Adcock, OpenAI didn't Organizations: Service, Business, Microsoft, NVIDIA, Amazon, US Chamber of Commerce

More questions for OpenAISam Altman has been back as OpenAI’s C.E.O. for three months, running one of the world’s most important tech companies at the forefront of the artificial intelligence boom. But a report by The Wall Street Journal that the S.E.C. is investigating whether Altman misled investors is a reminder that OpenAI and its hyper-ambitious chief face a level of scrutiny that could dent their global plans. isn’t the only regulator looking at the Altman drama: Federal prosecutors in Manhattan have also been asking questions, according to The Journal.

Persons: OpenAI Sam Altman, Altman, Altman’s Organizations: Wall Street Journal Locations: Manhattan

☆ SEC reportedly probing OpenAI and Sam Altman over potentially misleading investors
▼ + stars: | 2024-02-29 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSEC reportedly probing OpenAI and Sam Altman over potentially misleading investorsCNBC's Deirdre Bosa joins 'The Exchange' to discuss the Wall Street Journal report on the U.S. Securities and Exchange Commission looking into whether OpenAI and Sam Altman misled investors.

Persons: Sam Altman, Deirdre Bosa Organizations: SEC, U.S . Securities, Exchange Commission

☆ Mark Zuckerberg's Asia trip is all about making AI friends
▼ + stars: | 2024-02-28 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Mark Zuckerberg isn't just in Asia to enjoy Japanese McDonald's and hit the ski slopes. The meetings will put Meta's AI and mixed reality ambitions front and center as competition grows. The likes of Meta's AI chief Yann LeCun have pushed back on suggestions that open-source AI is dangerous because the sheer volume of resources any bad actor would need to use an AI model maliciously makes it highly untenable. Meta's mission to build businessPoliticians won't be the only thing on Zuckerberg's mind on his Asian trip. Meta's line of mixed reality headsets, the Quests, finally face a formidable foe following Apple's release of the Vision Pro this month.

Persons: Mark Zuckerberg isn't, —, Mark Zuckerberg, Kokaji, Zuckerberg, Fumio Kishida, Sam Altman, Kishida, Yoon Suk, OpenAI's Altman, FABRICE COFFRINI, Yann LeCun, ROBYN BECK, Getty Zuckerberg, Jay Y, Lee Organizations: Service, Japan's, Japan Times, South, Bloomberg, Economic, Business, Meta, Vision, Apple, LG Electronics, Samsung Locations: Asia, Japan, Davos, South Korea, Switzerland, Seoul

☆ Google's mission is organizing the world's information. Its 'woke' AI debacle prompted critics to say it's failing.
▼ + stars: | 2024-02-27 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +5 min

Read previewSince its inception, Google has had a mission statement that is now practically enshrined as lore: "To organize the world's information and make it accessible and useful." Its AI, critics say, risks suppressing information instead by being too "woke." AdvertisementGoogle's AI troublesGoogle has more than 90% of the search market, giving it dominant control over the world's information flow online. Advertisement"The original mission was to index all the world's information. In a blog published Friday, Google vice-president Prabhakar Raghavan acknowledged some of the images Gemini generated turned out to be "inaccurate or even offensive."

Persons: —, Larry Page, Sergey Brin, Gemini, Peter Kafka, Adolf Hitler, Elon, David Sacks, Critics, Sam Altman, Andrew Caballero, Reynolds, Bilal Zuberi, Brad Gerstner, Microsoft —, Elon Musk, OB1CCZHan3, Prabhakar Raghavan, overcorrected, Raghavan Organizations: Service, Google, Business, Craft Ventures, Lux Capital, Microsoft, Elon Locations: Menlo Park, AFP

"Normal people do not use OpenAI's products in this way," OpenAI wrote in the filing. The news outlet's lawsuit, filed in December, seeks to hold Microsoft and OpenAI accountable for billions of dollars in damages. In the past, OpenAI has said it's "impossible" to train top AI models without copyrighted works. "We expect our ongoing negotiations with others to yield additional partnerships soon," OpenAI wrote in the filing. But in the filing, OpenAI says the content is vital to training today's AI models.

Persons: Sam Altman, OpenAI, Altman, Axel Springer, — CNBC's Ryan Browne Organizations: Economic, The New York Times, New York Times, Microsoft, House, Times, Bloomberg, CNN, Fox Corp, CNBC PRO Locations: Davos, Switzerland, Manhattan

☆ Kara Swisher witnessed the tech revolution. Now she wants to burn the industry
▼ + stars: | 2024-02-25 | by ( Zachary Wolf | Analysis Zachary B. Wolf | ) edition.cnn.com time to read: +14 min

That’s the message in a fascinating new memoir, “Burn Book,” by the tech journalist Kara Swisher, who hosts a multitude of podcasts and is a CNN contributor. I don’t think they read. In the entire time that you’ve been covering tech I don’t think there’s been a single major regulatory law. So it’s a real racket if you really think about it. And I do think there’s a human impulse even though you have this lizard brain that likes to stare at the phone.

Persons: “, Kara Swisher, SWISHER, Will, I’ve, it’s, Steve Jobs, I’m, Don’t, What’s, there’s, they’ve, They’ve, Guess, Mark Zuckerberg, He’s, Joe, Biden, There’s, Sam Altman, Tony Blinken, It’s, that’s, you’re, We’ve Organizations: CNN, Communications, Alaska Airlines, United Arab, State, Facebook, Times Locations: It’s, America, Alaska, United Arab Emirates, UAE, Europe, New York, There’s

☆ Elon Musk is accusing Google of running 'insane racist, anti-civilizational programming' with its AI
▼ + stars: | 2024-02-23 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

That night, Musk wrote multiple posts on X slamming Google. "I'm glad that Google overplayed their hand with their AI image generation, as it made their insane racist, anti-civilizational programming clear to all," Musk wrote in one of the posts. "This nut is a big part of why Google's AI is so racist & sexist," Musk wrote on X on Thursday. pic.twitter.com/NC9nIi2GcV — Elon Musk (@elonmusk) February 22, 2024BI ran two separate searches on Google with the same keywords Musk used. Representatives for Google did not immediately respond to a request for comment from BI sent outside regular business hours.

Persons: —, Elon, Musk, Gemini, that's, Jack Krawczyk, Krawczyk, I’m, NC9nIi2GcV — Elon, Sam Altman's OpenAI, Grok Organizations: Service, Google, Business, Business Insider, BI

☆ Wall Street is loving AI while Big Tech is warning employees about how they use it
▼ + stars: | 2024-02-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Wall Street's love affair with Nvidia (and AI) while Big Tech still grapples with how to use the tools . Since Nvidia's GPUs sit at the center of the AI revolution, the company's success suggests the hype around the tech is warranted. One issue is bias showing up in AI tools . AdvertisementInternal documents show that Amazon is warning its employees not to use third-party generative AI tools for work , BI's Ashley Stewart and Eugene Kim report. It's an interesting acknowledgement of the risks involved with using AI tools — especially when Amazon is pitching its own chatbot to customers .

Persons: —, It's, Michael M, Tyler Le, it's, Matthew Fox, Wall, Jensen, Kathleen Brooks, XTB, BI's George Glover, Chelsea Jia Feng, — ChatGPT, Monica Melton, BI's Ashley Stewart, Eugene Kim, Paul Morigi, Jenny Chang, Rodriguez, Goldman, Joe Duran, Jensen Huang, Huang, Reddit, Sam Altman, Elon Musk, Gemini, isn't, RJ Scaringe, Rivian, Scaringe, Steve Conine, Niraj Shah, Lucas Jackson, Wayfair, Bruce Dixon, they'd, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover, Grace Lett Organizations: Service, Nvidia, Big Tech, Getty, Nasdaq, Nikkei, GameStop, SEC, CNBC, EV, Warner Bros Discovery Inc, Hyatt Hotels Locations: Paul, New York, London, Chicago

☆ A look at some of Sam Altman's investments beyond Reddit
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailA look at some of Sam Altman's investments beyond RedditCNBC's Deirdre Bosa joins 'The Exchange' to report on Sam Altman's investments beyond Reddit, the likelihood of a Reddit IPO, and more.

Persons: Sam Altman's, CNBC's Deirdre Bosa, Sam

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNvidia, Sam Altman and the trillion-dollar AI dreamArtificial intelligence only entered the mainstream a year ago. But already, two titans of the industry are prophesying trillions of dollars in opportunity. Nvidia chief Jensen Huang is predicting an additional $1 trillion in data center spend in the next few years, while OpenAI's Sam Altman's chip dream is closer to $7 trillion. This week on Tech Check, we take a deep dive into their trillion-dollar AI visions.

Persons: Sam Altman, Jensen Huang, OpenAI's Sam Altman's Organizations: Nvidia, Tech

☆ Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway
▼ + stars: | 2024-02-23 | by ( Clare Duffy | John Towfighi | ) edition.cnn.com time to read: +6 min

The move would make Reddit the first major social media company to go public since Snapchat in 2017. In its 18 years as an online social hub, Reddit has seen enormous growth, occasional controversy and even market-shifting stunts. Reddit users often post anonymously in these forums, discussing everything from memes to major news events. Steve Huffman, CEO of Reddit attends Variety & Reddit An Evening With Future Makers at Wynn Las Vegas on January 05, 2023 in Las Vegas, Nevada. Still, the incident helped draw attention to the power of Reddit communities.

Persons: New York CNN — Reddit, Reddit, ”, Steve Huffman, ” Huffman, Condé Nast, Alexis Ohanian, Huffman, Sam Altman, Ohanian, TheFacebook, Greg Doherty, ” Reddit Organizations: New, New York CNN, San Francisco, New York Stock Exchange, Securities and Exchange Commission, Advance, University of Virginia, Facebook, YouTube, Twitter, Wynn Las, Variety, GameStop, Google Locations: New York, San, Wynn Las Vegas, Las Vegas , Nevada

☆ Reddit is a 'smaller, more volatile' Twitter, says Big Technology's Alex Kantrowitz
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailReddit is a 'smaller, more volatile' Twitter, says Big Technology's Alex KantrowitzAlex Kantrowitz, Big Technology founder, joins 'Squawk Box' to discuss Reddit's decision to go public, the company's journey to IPO, Sam Altman's stake in the company, and more.

Persons: Big, Alex Kantrowitz Alex Kantrowitz, Sam Altman's Organizations: Big Technology

☆ Reddit aims to ride the AI wave by going public
▼ + stars: | 2024-02-23 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +4 min

The platform's listing, expected next month, would be the largest IPO by a social media company since Pinterest in 2019. That means some are wondering why Reddit has waited until now to make its move, but AI might have something to do with it. Reddit also listed data licensing and AI training as part of its income streams. "We are going public to advance our mission and become a stronger company," he said in a founder's letter included in the prospectus. AdvertisementRepresentatives for Reddit did not immediately respond to a request for comment from BI, made outside normal working hours.

Persons: Reddit, Sam Altman, Steve Huffman, Huffman, Fortune, Katie Notopoulos Organizations: New York Stock Exchange, Facebook, Twitter, Business, Securities and Exchange Commission, Google, University, Virginia, GameStop, AMC Locations: Reddit

☆ Sam Altman secretly owned way more Reddit stock than we thought
▼ + stars: | 2024-02-22 | by ( Grace Eliza Goodwin | Lauren Steussy | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewWe learned a new detail about Sam Altman Thursday: just how much he supports Reddit. The filing revealed that Altman, the CEO of OpenAI, owns an 8.7% stake in the company. Reddit is the first social media company to submit an initial public offering since Pinterest in 2019, and it's the first major tech company to file for an IPO in 2024. The concept of working this closely with AI companies hasn't gone over great with some Reddit users, who have criticized the idea of profiting off users' data without their consent.

Persons: —, Sam Altman, Altman, Newhouse, Tencent, Reddit, Reddit doesn't, Steve Huffman, hasn't Organizations: Service, Securities and Exchange Commission, Business, Altman, Advance, Hollywood, Bloomberg, Google, OpenAI, SEC Locations: Reddit

☆ OpenAI CEO Sam Altman stands to net millions as Reddit goes public
▼ + stars: | 2024-02-22 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

OpenAI CEO Sam Altman will be in a position to make millions after Reddit goes public, thanks to a series of bets on the online discussion board company that go back to 2014. Altman will hold 9.2% of voting power after Reddit's initial public offering, according to information in the company's prospectus. In 2014 Altman led Reddit's $50 million Series B funding round, after using the service every day for nine years, he wrote in a blog post. In the first half of 2021, Reddit was raising a Series E round, and Altman invested $50 million. He went on to say that investors in the Series B round would give 10% of shares to Reddit users.

Persons: Sam Altman, Reddit, Altman, OpenAI, Reddit's, It's, Steve Huffman, that's, FirstMark's Organizations: Microsoft, New York Stock Exchange, Nasdaq, Silicon

☆ Nvidia just showed the world it's the AI daddy
▼ + stars: | 2024-02-22 | by ( Hasan Chowdhury | George Glover | ) www.businessinsider.com time to read: +5 min

AdvertisementIt sure seems like Nvidia is everyone's AI daddy right now. But in case anyone needed another reminder of who the AI daddy is, Nvidia delivered it on Wednesday. Nvidia stock surged as much as 14% in premarket trading Thursday. There are a few reasons why Nvidia has become indispensable to tech firms trying to take advantage of the AI gold rush. Expect Nvidia to remain the AI daddy for the foreseeable future.

Persons: Jensen Huang, Mark Zuckerberg, Huang, Goldman Sachs, Lisa Su, Matt Bryson, Bryson, OpenAI's Sam Altman, SoftBank's, Kathleen Brooks, XTB Organizations: Nvidia, Microsoft, Meta, Reuters, Huawei, Technology, AMD Locations: Santa Clara, China

☆ OpenAI's Sam Altman is major Reddit backer as it files to go public on NYSE
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpenAI's Sam Altman is major Reddit backer as it files to go public on NYSEHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Sam Altman, Brian Sullivan, “ Organizations: NYSE, CNBC

☆ Premarket stocks: Is Nvidia too big to fail?
▼ + stars: | 2024-02-21 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Investors expect Nvidia to report earnings of $4.59 a share and $20.378 billion in revenue, up from just $6.05 billion a year before. Too big to fail: For the time being, Nvidia is the “most sophisticated and deployed” chipmaker in the world, and its output is one of national importance, said Newman. Capital One wants to be the biggest credit card company in America. If approved by regulators and shareholders, Capital One’s (COF) acquisition will create the biggest US credit card company by loan volume. Compared to other major credit card issuers, Capital One has historically catered to customers with credit scores in the 600s range, which is considered subprime.

Persons: “, ”, Daniel Newman, Newman, Jensen Huang, ” What’s, Sam Altman, Pat Gelsinger, Elisabeth Buchwald, Biden, Richard Fairbank, Fairbank, Samantha Delouya, Dow, Dow hasn’t Organizations: CNN Business, Bell, New York CNN, Nvidia, Wall, Microsoft, Apple, Investors, Intel, AMD, Discover Financial Services, Capital, Discover, Mastercard, Consumer Financial, Bureau, Walgreens, Dow Jones, Alliance, Dow Jones Industrial, Dow Jones Indices, Dow, Tesla Locations: New York, California, United States, China, Dubai, America

☆ Here's the playbook tech companies like AllTrails, Canva, and Kayak are using to dominate the charts in OpenAI's new GPT Store.
▼ + stars: | 2024-02-20 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +9 min

Its GPT, which generates images from text prompts, is currently ranked second overall on the GPT Store. And all three companies' GPTs have been highlighted at the top of the GPT Store website as "OpenAI's Picks." Advertisement"Sometimes finding trails can be overwhelming because there are so many different places to go," Graham told Business Insider. In addition to GPT Store, companies are thinking more broadly about how AI fits into their business models. "Now we're also investing time in using AI to make our team faster and more efficient, too."

Persons: —, OpenAI, Canva, Anwar Haneef, Matthias Keller, James Graham, Sam Altman, Graham, GPTs, Sam Altman's, Keller, we're, Haneef Organizations: Service, Business, Uber, Sequoia Capital Global, Bessemer Venture Partners, Greenoaks, Booking Holdings, OpenAI, Economic, Canva Locations: Davos, Canva, ChatGPT

☆ It's not just Sam Altman trying to throw money at the AI chip shortage
▼ + stars: | 2024-02-20 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

The race is on to address the AI chip shortage. SoftBank's Masayoshi Son is the latest tech leader who plans to invest heavily in chip production. Chips are needed to train the complex models that underpin AI — but there's not enough to go around. SoftBank CEO Masayoshi Son is the latest tech leader to raise funds to tackle the chip shortage. So too are more speculative ambitions being pursued by both Altman and Son, such as the development of artificial general intelligence.

Persons: —, Sam Altman, it's, Masayoshi Son, Altman, Son, Ethan Mollick, ” There's, That's, Mark Zuckerberg, ” Mark Zuckerberg, JOSH EDELSON, Son’s Organizations: Service, Tech, Journal, Izanagi, Bloomberg, Kyodo, Stills, Nvidia, Samsung, Intel, ARM Locations: Tokyo

☆ One reason the Vision Pro might be so expensive: 'mimetic desire'
▼ + stars: | 2024-02-20 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Rooted in philosophical thought, mimetic desire refers to the notion that people desire the same things that their role models want. In the context of the Vision Pro, that theory could mean consumers may be more likely to purchase the device because celebrities or influencers they admire own it. "If these people are models to you—which they are for many young people—mimetic desire kicks in and you subconsciously want a Vision Pro too." If you have an Apple Vision Pro, some photography tips. After all, the Oculus founder, who did not respond to BI's request for comment, said he believes the Vision Pro will eventually be cheaper for the masses.

Persons: —, Jason Levin, Levin, who've, YouTubers Logan Paul, Casey Neistat, Kid Cudi, Robert Scoble, Sam Altman, bB0XTzJ291, Palmer Luckey, Luckey, Apple, would've, It's, Tesla, Elon Musk, Apple didn't Organizations: Service, Business, Vision, Apple Vision, Apple, Pro

☆ Some hear echoes of the Web3 frenzy around generative AI. But its future is likely to play out very differently.
▼ + stars: | 2024-02-19 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +7 min

Mariam Pettit, partner at Global Founders Capital, said the rush toward AI was in part driven by investor FOMO. While investors and industry insiders don't anticipate the same fate for generative AI startups, many see the parallels between the two industries. Indeed, VCs are paying premiums and pre-empting rounds into hot AI startups in a bid to get a place on the cap table. AI founders are aware that they need to differentiate themselves in order to survive, at the very least. "And with vertical AI startups, it's much clearer that all the data we have is approved by the creator of that data."

Persons: Marc Andreessen, ChatGPT, Mariam Pettit, FOMO, Rainer Haeckl Web3, Sam Bankman Fried, Ash Arora, LocalGlobe, Arora, Sam Altman, Andreessen Horowitz, Ayman Fadil, Fadil, Pettit, Devang Agarwal Organizations: Business, Alpha, Global Founders Capital, Investors, Tech, Talis Locations: German, London, Web3, LocalGlobe, Jasper

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