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☆ OpenAI is taking a page out of Big Tech's playbook by reportedly building its own chips
▼ + stars: | 2024-10-31 | by ( Tom Carter | ) www.businessinsider.com time to read: +6 min

OpenAI is reportedly teaming up with Broadcom and TSMC to build custom AI chips, per Reuters. OpenAI could have its custom chips by 2026 but is reportedly dropping plans to build its own fabs. AdvertisementBuilding custom AI chips has long been the preserve of a select few tech companies — but OpenAI might be about to join the party. AdvertisementOpenAI's move, which will also reportedly see it incorporate AMD chips into its supply mix, means it would reduce its dependency on Nvidia, the market leader for AI chips. While it's unclear how much OpenAI's reported chip-building push will cost, creating custom AI chips doesn't come cheap.

Persons: OpenAI, —, Kate Leaman, Rahul Kulkarni, Maia, Meta, Mark Zuckerberg, Gil Luria, Davidson, Luria, Edward Wilford, Sam Altman, Altman, Pierre Ferragu Organizations: Broadcom, Meta, Google, Service, Reuters, BI, Microsoft, Apple, Tech, Amazon Web, AWS, Nvidia, Big Tech, Street, New, Research, New York Times

☆ Sam Altman said he 'sometimes' used ChatGPT to answer Reddit AMA questions
▼ + stars: | 2024-10-31 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

Sam Altman said OpenAI's next big model is likely not coming this year. The CEO answered user questions during a Reddit Ask Me Anything Thursday — sometimes using ChatGPT to respond, he said. AdvertisementSam Altman used his own AI creation to answer questions during a Reddit "Ask Me Anything" session on Thursday. Altman also said he was using ChatGPT, the company's generative AI chatbot, to "sometimes" answer questions during the AMA. The billionaire offered new timing details on OpenAI's next large AI model, GPT-5, saying its release likely won't come this year.

Persons: Sam Altman, OpenAI's, —, Redditors, Altman, Srinivas Narayanan, Narayanan, Bing, OpenAI execs, Kevin Weil Organizations: Service, AMA

☆ Super Micro's $50 billion stock collapse underscores risk of AI hype
▼ + stars: | 2024-10-31 | by ( Ari Levy | ) www.cnbc.com time to read: +7 min

Super Micro is one of the primary vendors for building out Nvidia-based clusters of servers for training and deploying AI models. Super Micro is now at risk of being delisted from the Nasdaq, and has until Nov. 16 to regain compliance with the stock exchange. Ernst & Young was new to the job, having just replaced Deloitte & Touche as Super Micro's accounting firm in March 2023. Since the S&P's announced index changes in March, Super Micro's stock has dropped at least 10% on six separate occasions. — CNBC's Rohan Goswami and Kif Leswing contributed to this report WATCH: Super Micro stock is a 'very risky buy'

Persons: Ernst & Young, Deloitte didn't, hasn't, P's, Dow Jones, Kevin Barry, Barry, —, Rohan Goswami, Kif Leswing Organizations: Computer Inc, Bloomberg, Getty, Micro, Nvidia, Ernst, Nasdaq, Mizuho, Deloitte, Touche, CNBC, Ernst & Young, Dell, SEC, Super, Hindenburg Research, Super Micro, U.S, U.S . Super, Whirlpool, P Global Locations: San Jose , California, U.S, That's, U.S .

☆ OpenAI launches ChatGPT search
▼ + stars: | 2024-10-31 | by ( Kate Rooney | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpenAI launches ChatGPT searchCNBC's Kate Rooney joins 'The Exchange' to report on OpenAI's new entry to take on search engines.

Persons: Kate Rooney

☆ OpenAI launches ChatGPT search, competing with Google and Microsoft
▼ + stars: | 2024-10-31 | by ( Hayden Field | ) www.cnbc.com time to read: +3 min

ChatGPT search offers up-to-the-minute sports scores, stock quotes, news, weather and more, powered by real-time web search and partnerships with news and data providers, according to the company. Zoom In Icon Arrows pointing outwards OpenAI's ChatGPT search OpenAIThe move also positions OpenAI as more of a competitor to Microsoft and its businesses. ChatGPT will "automatically search the web based on what you ask," according to an OpenAI blog post. Users can manually click the web search icon within ChatGPT to search if they choose. Zoom In Icon Arrows pointing outwards OpenAI's ChatGPT search OpenAI

Persons: Sam Altman, Didem, Bing, OpenAI, Altman, Axel Springer, Condé Nast, Dotdash Meredith Organizations: Anadolu, Getty, Microsoft, Google, ChatGPT, Associated Press, Reuters, Hearst, Financial Times, News Corp, Vox Media Locations: ChatGPT, OpenAI

☆ OpenAI CEO Sam Altman says new AI model taking a while because 'we can't ship' as quickly as hoped
▼ + stars: | 2024-10-31 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

"All of these models have gotten quite complex and we can't ship as many things in parallel as we'd like to," Altman wrote during a Reddit AMA. Regarding the next version of DALL-E, Altman wrote that the "next update will be worth the wait" but that there's no "release plan yet." The move also positions OpenAI as more of a competitor to Microsoft, which has invested close to $14 billion in OpenAI. For Altman, Reddit isn't just a communications platform. WATCH: OpenAI takes on Google with ChatGPT search

Persons: Sam Altman, Altman, OpenAI, Sora, Kevin Weil, Srinivas Narayanan, Microsoft's Bing, Narayanan, Bing, Reddit isn't Organizations: Google, CNBC, AVM Vision, ChatGPT, Microsoft Locations: San Francisco , California, OpenAI, ChatGPT

☆ Big Fidelity funds own more than $100 million in OpenAI stock, filings show
▼ + stars: | 2024-10-30 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Several big Fidelity funds valued their OpenAI stock in new filings on Wednesday. AdvertisementSeveral big Fidelity funds have stakes in OpenAI that the mutual fund giant valued at more than $100 million in total, according to filings on Wednesday. According to the Contrafund's monthly report, which was published on October 30 and includes financial information for the month of September, Fidelity valued those OpenAI shares at $74,801,903. The Blue Chip Growth fund's filing valued that stake at $29,421,124; the Growth Discovery Fund valued that stake at $3,433,000; the Capital Appreciation Fund valued that stake at $3,900,800; and the Stock Selector All Cap Fund valued that stake at $580,570. It was not immediately clear how many OpenAI shares Fidelity owns in total.

Persons: Fidelity, —, Sam Bankman, OpenAI Organizations: Fidelity, Service, Growth, Discovery Fund, Fund Locations: OpenAI

☆ Microsoft CFO says OpenAI investment will cut into profit this quarter
▼ + stars: | 2024-10-30 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Microsoft 's massive investment in OpenAI is weighing on earnings. The accounting approach refers to a company's share of the invested company's profit or loss in a given period, a Microsoft spokesperson said. The OpenAI investment disclosure was new for Microsoft, but the company has registered over $2.3 billion in other expense in the past four quarters. On the earnings call, Microsoft CEO Satya Nadella said the collaboration with OpenAI has benefited both parties and that the company feels good about "our investment stake in OpenAI." WATCH: Oppenheimer downgrades Microsoft: OpenAI losses are not properly priced in

Persons: Satya Nadella, Sam Altman, Amy Hood, OpenAI, Hood, Microsoft's, OpenAI's, OpenAI didn't, Oppenheimer Organizations: Microsoft, Google, OpenAI Locations: San Francisco, OpenAI

☆ Elon Musk's xAI startup could soon be worth many times more than X
▼ + stars: | 2024-10-30 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Elon Musk's xAI is raising fresh funding at a $40 billion valuation, the WSJ reported. Social media network X, meanwhile, is currently valued at $9.4 billion, according to Fidelity filings. AdvertisementA new funding round in the works for xAI could value Elon Musk's startup at more than four times what his social media network, X, is currently worth, according to recent Fidelity filings. The AI startup is reportedly in talks to raise funding at a $40 billion valuation, according to the Wall Street Journal. Assuming the investment was made at X's $44 billion valuation, the fund now estimates X's value to be around $9.4 billion.

Persons: Elon Musk's, —, Musk, ChatGPT, That's Organizations: Social, Fidelity, Service, Elon, Wall Street, Sequoia Capital, Growth Locations: a16z, xAI

☆ Microsoft discloses equity investment in OpenAI for the first time, SEC filing shows
▼ + stars: | 2024-10-30 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +4 min

Microsoft disclosed equity investment in OpenAI for the first time, SEC filings show. AdvertisementMicrosoft disclosed an equity investment in OpenAI for the first time, according to its latest SEC filings. "We have an investment in OpenAI Global, LLC ("OpenAI") and have made total funding commitments of $13 billion," Microsoft wrote in the SEC filing on Wednesday. In previous SEC filings, Microsoft described the nature of its relationship with OpenAI as a partnership rather than an equity investment. "Going from 'partnership' to 'equity method investment' disclosure, including that losses are being recorded for their share, is a big change," McKenna added.

Persons: OpenAI, —, Francine McKenna, McKenna, Amy Hood, Copilot Organizations: Microsoft, SEC, Service, OpenAI, supercomputing Locations: OpenAI

☆ Microsoft hints at a big change to its OpenAI investments in a new SEC filing
▼ + stars: | 2024-10-30 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +3 min

Microsoft disclosed an equity investment in OpenAI for the first time, SEC filings show. "We have an investment in OpenAI Global, LLC ("OpenAI") and have made total funding commitments of $13 billion," Microsoft wrote in the SEC filing on Wednesday. Related storiesIn a previous SEC filing, Microsoft described the nature of its relationship with OpenAI as a partnership rather than an equity investment. "We have a long-term partnership with OpenAI, a leading AI research and deployment company," Microsoft wrote in its annual SEC filing from late July. In the July filing, Microsoft listed OpenAI as a competitor for the first time.

Persons: OpenAI, —, Francine McKenna, Sam Altman, McKenna, Microsoft's, Copilot Organizations: Microsoft, SEC, Service, OpenAI, supercomputing Locations: OpenAI

☆ Two big Fidelity funds own more than $100 million in OpenAI stock, filings show
▼ + stars: | 2024-10-30 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Two of the firm's big funds valued their OpenAI stock at more than $100 million, according to new filings. AdvertisementTwo of Fidelity's biggest funds have stakes in OpenAI that the mutual fund giant valued at more than $100 million in total, according to filings on Wednesday. According to the Contrafund's monthly report, which was published on October 30 and includes financial information for the month of September, Fidelity valued those OpenAI shares at $74,801,903. AdvertisementIt was not immediately clear how many OpenAI shares Fidelity owns in total. Representatives for OpenAI and Fidelity did not immediately respond to requests for comment.

Persons: Fidelity, — Organizations: Fidelity, Service, Growth, OpenAI Locations: OpenAI

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow ChatGPT-maker OpenAI's new lobbying power tamed Capitol HillCome election day, the future of Big Tech won't be decided by either presidential candidate. Instead, OpenAI co-founder and CEO Sam Altman has emerged as one of the most powerful people shaping AI policy. The man behind ChatGPT has put on a masterclass in wooing Washington, learning from Mark Zuckerberg and social media's missteps in the past on the Hill. And he's turned OpenAI into a lobbying powerhouse, bringing on staff with deep ties to D.C. like its head of global affairs Chris Lehane.

Persons: OpenAI, Sam Altman, ChatGPT, Mark Zuckerberg, he's, Chris Lehane Organizations: Big Tech Locations: Washington

☆ Evertune is building marketing analytics tools for LLMs. Check out the pitch deck it used to launch from stealth with $4 million in seed funding from Eniac.
▼ + stars: | 2024-10-30 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +4 min

The startup offers marketing analytics tools to help brands boost their SEO on LLMs like ChatGPT. Check out the 17-slide pitch deck Evertune used to raise its $4 million seed funding round. The startup, Evertune, launched from stealth today with $4 million in seed funding, it confirmed exclusively to Business Insider. AdvertisementAt Evertune, Stempeck said that he and his co-founders, Ed Chater and Poul Costinsky, are focusing on being the leader in intersection between advertising and AI. Check out the 17-slide pitch deck Evertune used to raise its $4 million seed funding round.

Persons: Evertune, Roger Ehrenberg, —, OpenAI's ChatGPT, Google's, Anthropic's Claude, Brian Stempeck, Evertune's, Stempeck —, LLMs, Stempeck, Ed Chater, Poul Costinsky Organizations: Eniac Ventures, Nextview, Service, Business, New York VC, NextView Ventures, Aperiam Ventures

☆ Alphabet to report Q3 earnings after the bell
▼ + stars: | 2024-10-29 | by ( Jennifer Elias | ) www.cnbc.com time to read: +3 min

Google parent Alphabet is set to report its third-quarter earnings Tuesday after the market closes. During the quarter, the company also faced the advancement of several antitrust lawsuits related to its search and ads business. That would include Google's search position agreements with Apple's iPhone as well as Samsung devices. With the slow-moving legal process, the company is still likely years away from being forced to make any changes to businesses. In August, the company announced its new Android software update and its latest line of Pixel smartphones that utilize Google's Gemini AI assistant.

Persons: Sundar Pichai, Emily Chang, StreetAccount, Prabhakar Raghavan, Nick Fox, Demis Organizations: APEC, Summit, Moscone Center West, Google, TAC, DOJ, Samsung, Gemini Locations: San Francisco, U.S

☆ Microsoft's GitHub expands beyond OpenAI, lets developers use AI models from Anthropic, Google
▼ + stars: | 2024-10-29 | by ( Jordan Novet | ) www.cnbc.com time to read: +2 min

Microsoft has a very expensive and very public relationship with artificial intelligence startup OpenAI. But one of Microsoft's most successful AI products, GitHub Copilot, is now going beyond OpenAI to give developers more choice in what models they want to use. Microsoft introduced GitHub Copilot in 2021, offering source code suggestions to software developers. Copilot relies on models from OpenAI, which has received billions of dollars in funding from Microsoft and has exploded in popularity since releasing ChatGPT in late 2022. At that point, it felt like "the right time" to add models from Anthropic and Google , Dohmke said.

Persons: Claude, Thomas Dohmke, They're, GitHub, Dohmke Organizations: Microsoft, OpenAI's, o1, CNBC, Google

☆ Sam Altman’s Reddit stake now worth over $1 billion after post-earnings pop
▼ + stars: | 2024-10-29 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Sam Altman, CEO of OpenAI, at the Allen & Company Sun Valley Conference on July 9, 2024 in Sun Valley, Idaho. Sam Altman, the controversial CEO of OpenAI, has a stake in social media company Reddit that's worth over $1 billion as of post-market trading on Tuesday. Altman controls roughly 12.2 million shares of Reddit, a company he first invested in over a decade ago. Reddit shares soared about 20% in extended trading after the compny reported better-than-expected quarterly results and issued an optimistic forecast. Top shareholders were forbidden from selling Reddit shares for six months during the "lockup period," which expired in September.

Persons: Sam Altman, Altman, OpenAI's, Y, Reddit, Condé, Altman didn't, OpenAI, WilmerHale, — CNBC's Ari Levy, Cramer Organizations: Allen & Company Sun Valley Conference, Reddit, Condé Nast, Advance Magazine Publishers, Fidelity, OpenAI, CNBC Locations: Sun Valley , Idaho, Reddit's, Airbnb

☆ Apple announces new iMac with M4 chip, starts at $1,299
▼ + stars: | 2024-10-28 | by ( Kif Leswing | ) www.cnbc.com time to read: +1 min

Apple on Monday announced an updated iMac with the company's latest M4 chip. Unlike on the iPhone, where only phones released in the past two years will support Apple Intelligence, all of Apple's computers with the M1 chip and newer since 2020 can run the company's artificial intelligence. For example, you might highlight the text of an email and use Apple Intelligence to make it sound more professional or more concise. Apple plans to release another version of Apple Intelligence in December that adds OpenAI's ChatGPT support into writing tools and Siri. It comes with an updated Magic Mouse and Magic Keyboard with USB-C charging, too, replacing the older Lightning port.

Persons: Apple's, Siri, It's Organizations: Apple, Apple Intelligence

☆ Meet OpenAI’s first chief economist—3 things you may not know about him
▼ + stars: | 2024-10-28 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

[alt heds: OpenAI has hired its first chief economist – 3 things to know about him3 things you may not know about OpenAI's new chief economist]While no one knows exactly how artificial intelligence will reshape society, OpenAI plans to analyze the technology's potential economic impact. On Oct. 22, OpenAI named Dr. Aaron "Ronnie" Chatterji as its first chief economist. In this role, he will oversee research on a range of AI-related topics, including how AI innovations may impact the global economy and how the workforce can utilize AI tools both now and in the future, according to OpenAI's press release. While this move marks a first for OpenAI, it won't be Chatterji's first high-profile role. Here are three things you may not know about OpenAI's new chief economist.

Persons: OpenAI, –, Aaron, Ronnie, Chatterji, Larry Summers Organizations: U.S . Treasury

☆ Bret Taylor’s AI startup Sierra raises funding at $4.5 billion valuation
▼ + stars: | 2024-10-28 | by ( Kate Rooney | ) www.cnbc.com time to read: +2 min

Bret Taylor, co-CEO of Salesforce, speaks at the Viva Technology Conference in Paris on June 15, 2022. Artificial intelligence startup Sierra, co-founded by ex-Salesforce co-CEO Bret Taylor, is more than quadrupling its valuation to $4.5 billion in a fresh funding round. The San Francisco-based company, which was valued at $1 billion in January, raised $175 million in a funding round led by Greenoaks Capital. Sierra is focused on helping enterprises like home security company ADT , Sonos , Weight Watchers and Casper personalize and implement AI agents for customer service. Taylor describes Sierra as "conversational AI," and bristles at the word "chatbot," even banning the phrase in the company's downtown San Francisco office.

Persons: Bret Taylor, Sierra, Taylor, Marc Benioff, Elon Musk, Clay Bavor, Casper personalize, Bavor, ICONIQ, Josh Kushner’s Organizations: Salesforce, Viva Technology Conference, Greenoaks Capital, Twitter, Elon, Google, Sierra, Google Labs, CNBC Locations: Paris, San Francisco

☆ Wall Street braces for a Trump or Harris presidency. Here's what that means for your portfolio.
▼ + stars: | 2024-10-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, the first of our five-part refresher series on the potential impact Donald Trump and Kamala Harris presidencies could have on US consumers. Business Insider's Matthew Fox detailed how Wall Street sees former President Donald Trump and Vice President Kamala Harris affecting the investment landscape if they win the White House. One of the biggest areas where Harris and Trump differ is their proposed tax policies, which are believed to have big impacts on stocks. AdvertisementTrump's universal tariffs proposal is also viewed as having a big impact. It's a big week for Apple.

Persons: —, Donald Trump, Kamala Harris, Jenny Chang, Rodriguez, Matthew Fox, Harris, Trump, it's, Alyssa Powell, Joe Biden, Steve Sosnick, Neil Dutta, Goldman Sachs, Morgan Stanley, Rebecca Zisser, Elon Musk, James Yates, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Grace Lett, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Getty, BI, White, Bank of America, Interactive Brokers, JPMorgan, Twitter, Elon, Apple, Apple Intelligence, iOS, Venture, Ford Motors, MLB, LA Dodgers, New York Yankees, Forbes Locations: It's, New York, London, Chicago

☆ This startup for traders raised $30 million from investors including Stanley Druckenmiller and Greg Coffey. Here's how it plans to transform how Wall Street analyzes data.
▼ + stars: | 2024-10-28 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Reflexivity is a startup cofounded by two former hedge fund traders. AdvertisementA startup looking to transform how investors and traders use data just received funding from some of the biggest names in the hedge fund world. Reflexivity, formerly known as Toggle AI, just raised its $30 million Series B, the startup announced Monday. Interactive Brokers and Greycroft led the round, which included participation from billionaire investor Stanley Druckenmiller and Greg Coffey, the Australian founder of hedge fund Kirkoswald. AdvertisementIt has a valuation between $115 million and $150 million, Szilagyi said.

Persons: —, Greycroft, Stanley Druckenmiller, Greg Coffey, Izzy Englander, Reflexivity, Jan Szilagyi, Szilagyi, George Soros, Giuseppe Sette, Howard, Wells, Szilyagyi, that's Organizations: Service, Interactive, Millennium, Catalyst, P, Business, Druckenmiller's Duquesne Capital Management, Fortress Investment Group, Millennium Management, Soros Fund, London Stock Exchange Group, Federal Reserve Locations: Australian, MUFG, Fargo, Wells Fargo

☆ Apple Intelligence is finally here for some as part of the iOS 18.1 software update
▼ + stars: | 2024-10-28 | by ( Jordan Hart | ) www.businessinsider.com time to read: +4 min

Apple rolled out long-awaited AI features to some iPhone and other users with its iOS 18.1 update. The new software is officially available on iOS 18.1, iPadOS 18.1, and macOS Sequoia 15.1, months after the tech giant first announced Apple Intelligence at the Worldwide Developers Conference. These are the Apple Intelligence features out nowApple Intelligence was revealed at Apple WWDC 2024. AdvertisementWith iOS 18.1, Apple said Siri can field typed requests, answer "thousands of questions" about Apple products, and understand context better. AppleTo ensure they get the features, iPhone owners must join a waitlist to request activation of Apple Intelligence.

Persons: Dan Ives, —, Siri, Apple, There's, Tim Cook Organizations: Apple, Apple Intelligence, Service, Sequoia, Worldwide, Wedbush Securities Locations: Australia, Canada, New Zealand, South Africa

☆ Reddit's CEO sees an opening against Google on search
▼ + stars: | 2024-10-27 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

Google is ranking the site higher in search results as more people look to it for answers. "People are going to Google with the intention of ending up on Reddit," Huffman said at the conference. It now presents Google search results in natural language at the top of the page. While Reddit could be seen as a potential competitor to Google Search, Google itself has prioritized Reddit in its results after recent changes to its algorithm. Google and Reddit also announced a deal in February that allows Google to train its AI models using Reddit comments.

Persons: Steve Huffman, —, Huffman, Reddit, Alpha, we've, there's Organizations: Google, Service, Wall Street

☆ Reddit is becoming the new Google
▼ + stars: | 2024-10-27 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

AdvertisementWhile speaking at a conference this week hosted by The Wall Street Journal, a reporter said she now uses Google Search mostly to get to Reddit for information. "People are going to Google with the intention of ending up on Reddit," Huffman said at the conference. While Reddit could be seen as a potential competitor to Google Search, Google itself has prioritized Reddit in its results after recent changes to its algorithm. Google and Reddit also announced a deal in February that allows Google to train its AI models using Reddit comments. Huffman said at the conference that it still feels like Reddit is "married to Google" but that "more and more people learn that Reddit has just pretty much everything that you're looking for."

Persons: Steve Huffman, —, Huffman, Reddit, Alpha, we've, there's Organizations: Google, Service, Wall Street

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