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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
Elon Musk's xAI has moved into OpenAI's founding HQ. Musk subsequently left OpenAI and has become increasingly critical of the company, founding rival startup xAI last year. AdvertisementElon Musk is racing to upstage OpenAI — and now the billionaire has moved his own AI startup into the company's old HQ. Musk's AI startup xAI has taken over OpenAI's original office in San Francisco's Mission district, according to a report from the San Francisco Business Times. It comes amid an escalating war of words between the Tesla CEO and the AI startup he helped found in 2015.
Persons: Elon Musk's xAI, Musk, , Elon, Martin von Hagen, Elon Musk, xAI, Sam Altman, OpenAI, Greg Brockman, refiled, Altman, he'd Organizations: Service, San Francisco Business Times, San Francisco Chronicle, sublease, Microsoft Locations: San Francisco's Mission, OpenAI
OpenAI has a $4 billion revolving line of credit, bringing its total liquidity to more than $10 billion, CNBC has learned. The base credit line is $4 billion, with an option to increase it by an additional $2 billion. Led by Thrive Capital, which planned to invest $1 billion, investors included existing backer Microsoft as well as chipmaker Nvidia. SoftBank, Khosla Ventures, Altimeter Capital, Fidelity Management & Research Company, MGX and Tiger Global also participated, according to sources familiar with the situation. Earlier this year, OpenAI was valued at a reported $80 billion, up from $29 billion in 2023.
Persons: Sam Altman, OpenAI, Goldman Sachs, Morgan Stanley, Mira Murati, Bob McGrew, Barret Zoph, Altman, Bret Taylor, Sam, Taylor Organizations: CNBC, JPMorgan Chase, Citi, UBS, HSBC, Microsoft, Nvidia, SoftBank, Khosla Ventures, Fidelity Management & Research Company, Tiger Global, The New York Times Locations: Santander, Wells Fargo, SMBC
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
But Microsoft is also reportedly building its own in-house AI model that could compete with OpenAI's. Microsoft is now developing its own in-house AI model, reportedly dubbed MAI-1, and OpenAI has launched GPT-4o and o1-preview. The two were briefly announced to "lead a new advanced AI research team," a group now known as Microsoft AI. Suleyman said the ties between Microsoft and OpenAI aren't unique, but rather similar to other company relationships across the industry. "I mean, we have a deep relationship with Amazon, believe it or not, on a lot of fronts."
Persons: Mustafa Suleyman, , Kara Swisher, Suleyman, OpenAI, Satya Nadella, Sam Altman, Greg Brockman, Altman, Brockman, Karén Simonyan Organizations: Microsoft, Service, OpenAI Locations: OpenAI
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
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The high-profile startup announced the closing of a $6.6 billion funding round that valued it at $157 billion. And more exits could be coming since OpenAI is reportedly working on allowing its employees to sell their shares in the company . Win McNamee and Didem Mente/Anadolu Agency via Getty Images; Jenny Chang-Rodriguez/InsiderIt's important to remember OpenAI's eye-popping valuation is just that … a valuation. Which gets us back to $157 billion OpenAI.
Persons: , Elon Musk's, Josh Kushner's, Cathy Wood's, Chase, Here's, Mira Murati, Kevin Weil, Rob Price, OpenAI, Sam Altman, Win McNamee, Didem, Jenny Chang, Rodriguez, Brad Gerstner, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Elon, Elon Musk's SpaceX, Venture, Microsoft, Nvidia, Anadolu Agency, Getty, Big Tech Locations: Silicon Valley, New York, London
The AI bubble, Taylor said, will be similar to the dot-com bubble in the late 1990s. AdvertisementThe buzz surrounding AI may echo the exuberance and excesses of the dot-com bubble in the late 1990s, OpenAI chairman Bret Taylor said in a podcast that aired on Wednesday. "I think the AI bubble will rhyme with the dot-com bubble and I believe with the benefit of hindsight, most of the excess of the dot-com bubble might have been justified," Taylor added. Most of today's leading tech companies like Amazon and Google, Taylor said, were started during the dot-com bubble. Advertisement"A huge percentage of the gains in the stock market over the past 30 years have more or less been these digital companies created in the dot-com bubble," Taylor said.
Persons: Bret Taylor, Sam Altman's, Taylor, Harry Stebbings, , Sam Altman, Mark Twain, Stebbings, Elon Musk, Goldman Sachs, Jim Covello, hasn't, We’ve, Elon, Musk Organizations: OpenAI's, Service, Google, Business Insider, Stanford, Facebook, Elon Locations: OpenAI, Silicon Valley
It will also end the week with another reputation: a new piece in the grand puzzle being solved by Masayoshi Son. Related storiesMasayoshi Son's AI vision is ambitiousOpenAI CEO Sam Altman will form just one part of Masayoshi Son's AI plans. Andrew Caballero-Reynolds/AFP/Getty ImagesTo understand Son's grand AI ambitions, it's worth first zooming out to see how SoftBank currently maps out AI investment opportunities. As of June, Vision Fund 1's gains were $21.7 billion, while Vision Fund 2 losses totaled $22.9 billion. AdvertisementSo it's become clear that Son's focus has fallen on the other part of his AI investment stack.
Persons: , Masayoshi Son, Sam, Sam Altman's, ChatGPT, Sam Altman, Andrew Caballero, Reynolds, SoftBank, it'll, Son's, it's, Son, Michael M, Graphcore, Nigel Toon, OpenAI's Altman, Lionel Barber, Barber Organizations: Service, Bloomberg, Getty, Business, Microsoft, Vision, Vision Fund, Nvidia, Nikkei, Wall Street, Financial Times Locations: Tokyo, AFP
OpenAI CEO Sam Altman speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024. OpenAI has closed its long-awaited funding round at a valuation of $157 billion, including the $6.6 billion the company raised from an extensive roster of investment firms and big tech companies. Thrive planned to invest $1 billion in the round, CNBC previously reported. Earlier this year, OpenAI was valued at a reported $80 billion, up from $29 billion in 2023. There are also 11 million ChatGPT Plus subscribers and 1 million paying business users on ChatGPT, a person close to the company said.
Persons: Sam Altman, OpenAI, SoftBank, Sarah Friar, Friar, Mira Murati, Bob McGrew, Barret Zoph, Altman, Bret Taylor, Sam, Taylor Organizations: Microsoft, Nvidia, CNBC, New York Times, OpenAI, Italian Tech, Khosla Ventures, Fidelity, MGX, Tiger Global Locations: Redmond , Washington
OpenAI exec Kevin Weil told BI the company has a "great bench" after CTO Mira Murati abruptly quit. AdvertisementThe hundreds of attendees at Ray Summit, an AI conference in San Francisco, were originally hoping to hear from Mira Murati, the chief technology officer of OpenAI, on Wednesday. AdvertisementIn a brief interview with Business Insider immediately afterwards, Weil praised Murati while downplaying the impact of her departure. Weil, a former Instagram executive, highlighted Mark Chen as an example of the talent still around at OpenAI. "So I'm really excited to partner with him and I'm really optimistic about what we're building."
Persons: Kevin Weil, Mira Murati, Weil, , Murati, Robert Nishihara, OpenAI, Mira, I've, Mark Chen, Chen, you've, I'm, Jane Street, Sam Altman, Ilya Sutskever, superalignment, Jan Leike, John Schulman, Barret Zoph, Bob McGrew, Bob, we've, We've Organizations: Service, Ray Summit, Business, Integral Technology, MIT Locations: OpenAI, San Francisco, Silicon
OpenAI's $6.6 billion funding raise attracted some big names across the industry. The $6.6 billion round gave OpenAI a $157 billion post-money valuation and minted it into one of the most valuable startups in the world. MicrosoftMicrosoft invested a little under $1 billion into OpenAI's latest funding round, according to The Wall Street Journal report. FidelityFidelity also participated in OpenAI's latest funding round. AdvertisementAltimeter Capital ManagementAltimeter Capital Management also contributed to OpenAI's latest funding round, according to reports.
Persons: , Sam Altman, OpenAI, Here's, Anderson Cooper, Josh Kushner, Instagram, Kushner, Altman, josh, SoftBank, Masayoshi Son, Son, Marco Bello, Wood, Morningstar, Bing, Jensen Huang, Sam Yeh, Elon Musk's, Brad Gerstner, Gerstner, Vinod Khosla, Vaughn Ridley, Khosla, MGX Organizations: Service, Allen & Company Sun Valley Conference, Getty, Capital, Business, VC, Wall Street, Reuters, Vision Fund, Venture, ARK Invest, ARK Venture Fund, SpaceX, Microsoft Microsoft, Wall, Rival Apple, Microsoft, Nvidia Nvidia, Nvidia, Tiger Global Management, Fidelity Fidelity, Elon, Elon Musk's xAI, Fidelity, Capital Management, . Khosla, Getty Khosla Ventures, Sun Microsystems, United Arab, Bloomberg Locations: OpenAI, Silicon Valley, OpenAI ., Tokyo, Saudi, ARK, AFP, IPOs, America, United Arab Emirates
OpenAI workers may soon be allowed to sell their shares in the AI firm, The Information reported. The report cited a memo sent to employees that said details on stock sales were being worked out. OpenAI raised $6.6 billion in its latest fundraising round. AdvertisementWorkers at OpenAI may soon get the opportunity to sell some of their shares in the company, The Information reported, citing a company memo. The move to allow employees to cash in follows the ChatGPT creator's $6.6 billion fundraising round.
Persons: OpenAI, , Sarah Friar, OpenAI's, Friar, Sam Altman, Mira Murati Organizations: Service, Microsoft, Nvidia, Wall Street Locations: OpenAI
Investors are flocking to OpenAI, but it's losing high-level executives at an alarming rate. Suddenly, it's open season for OpenAI employees. Rivals like Anthropic and Perplexity are signaling to workers that they put mission over profits. Suddenly, it's starting to feel like open season for OpenAI employees. A recruiter said his search firm has fielded more interest from current OpenAI employees since the board's ouster of Sam Altman a year ago.
Persons: , Mira Murati, Ilya Sutskever, Andrej Karpathy, John Schulman, Greg Brockman, Alex Klein, he's, Dan Miller, Tim Tully, Sam Altman, Jason Redmond, weren't, Klein, OpenAI, Jack Guez, Anthropic, Jan Leike, Schulman, Durk Kingma, Kingma, Matt Murphy, Arvind Jain, Jain, Matt Hoffman, Johnny Ho, Ho Organizations: Rivals, Service, OpenAI, LinkedIn, Menlo Ventures, Ark Venture Fund, Business, Getty, Google, Anthropic, Employees, Engineers Locations: OpenAI, AFP, Bay
Last year, Son — who says he uses ChatGPT every day — is said to have met with Sam Altman, the A.I. That included talks for Son to provide up to $1 billion in funding to Altman and Jony Ive, the designer behind the iPhone, to create an A.I.-powered replacement for the smartphone. Bloomberg reported that SoftBank had hoped to be part of OpenAI’s last fund-raising round, but was instead wait-listed. Son is also trying to organize the auto industry around the use of A.I. The strike poses a significant threat to the U.S. economy, with analysts estimating it could cost up to $7.5 billion a week.
Persons: SoftBank, Son —, Sam Altman, Altman, Jony, Son, Cerebras Organizations: Bloomberg, Nvidia, Gulf Coasts, International Longshoremen’s Association Locations: OpenAI’s, ramping, A.I, British, Wayve, Gulf, U.S
No, the tech that’s going to save humanity will be powered by the tech that very nearly destroyed it. The tech industry’s solution, for now, is nuclear energy, which is more stable than wind or solar and is virtually carbon-emission-free. Amazon is working on putting a data center campus right on the site of a Talen Energy nuclear power plant in Northeast Pennsylvania. And while AI doomer predictions often get brushed off as alarmist forecasts, you can’t as readily dismiss the folks who are concerned about nuclear energy. Bottom line: There’s no AI future without a serious uptick in our power supply, which makes the expansion of nuclear power practically unavoidable.
Persons: CNN Business ’, Sam Altman, Peter Thiel, Anna Erickson, Organizations: CNN Business, New York CNN, Nvidia, International Energy Agency, JPMorgan, Microsoft, Energy, Financial Times, Founders Fund, Georgia Tech, Big Locations: New York, Harrisburg , Pennsylvania, Northeast Pennsylvania, Idaho, Big Tech
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
AdvertisementBill Gates is a self-described optimist about the future of AI, but the tech still raises a few key concerns for him. Experts have warned AI models can be abused for purposes like carrying out scams or cyberattacks or spreading misinformation , among other things. Besides Gates, other business leaders have also expressed concerns about AI and an interest in more regulation and guardrails on the technology. Many share some of Gates' concerns. Looking more at the present, Gates has said he uses AI in his own life to summarize meetings he attends.
Persons: Bill Gates, , Kara Swisher, Gates, Joe Biden's, Goldman Sachs, HubSpot, — it's, you've, Michael Schwarz, Sam Altman, Microsoft's Organizations: Microsoft, Service, AIs, cybercrime Locations: bioterrorism
OpenAI plans to restructure into a for-profit company, moving away from nonprofit board oversight. Here's what some former and current employees are saying about the latest changes. AdvertisementAfter a whirlwind week for OpenAI, former and current employees are weighing in on the company's path forward. Gretchen Krueger, a former policy researcher at OpenAI, said the company's nonprofit governance structure and cap on profits were part of the reason she joined in 2019 — the year that OpenAI added a for-profit arm. "Those of us at @OpenAI working on o1 find it strange to hear outsiders claim that OpenAI has deprioritized research.
Persons: , Mira Murati, Barret Zoph, Bob McGrew, Sam Altman, OpenAI, hasn't, Altman, OpenAI's, Jan Leike, Gretchen Krueger, Noam Brown, Brown, Mark Chen, I've, it's Organizations: Service, OpenAI, Italian Tech, Outsiders, o1, Business Locations: Murati
The most sweeping effort yet to regulate artificial intelligence, a California bill that could have informed laws around the world, is going back to the drawing board. 1047 provided necessary guardrails, and they urged California policymakers to reject intense pressure from software giants against the bill. Smaller tech companies also pushed back, worried that A.I. While governments around the world (and A.I. Act, which focuses on the riskiest use of the technology but also includes transparency requirements for the largest models.
Persons: Gavin Newsom, ” Newsom, Geoffrey Hinton, Elon Musk, Nancy Pelosi, Newsom’s, Sam Altman, OpenAI Organizations: Gov, Hollywood, Street, Google Locations: California, Silicon, S.B
OpenAI is transitioning to a for-profit company so it can raise billions more in funding. The company has operated under a nonprofit board since its launch, adding a for-profit arm in 2019. Almost a year later, many of those who disagreed with Altman's approach are gone, and OpenAI is transitioning into a fully for-profit company. There are several complex steps the company will need to take to make this change in under two years. AdvertisementAltman's equityUnder the new structure, Altman is set to get equity in the company.
Persons: , OpenAI, Sam Altman, Alexander Reid, Altman, It'll, Jill Horwitz, Greg Brockman Organizations: Service, Microsoft, Nvidia, Wall Street, UCLA, Elon Musk Locations: OpenAI, Delaware
OpenAI CEO Sam Altman advises students to learn AI to stay relevant in the job market. An Indeed study found that 2,800 work skills are "very unlikely" to be replaced by generative AI. "People would say the same things — many of the same things — they say about AI now," he said. Humans have a lot of skillsAnother point for the don't-worry camp came from a new Indeed study identifying more than 2,800 work skills. AdvertisementKids are still learning to codeIt seems worries about an AI job-pocalypse aren't deterring some people from going big on tech, as Altman advises.
Persons: Sam Altman, Vinod Khosla's, , There's, they've, Altman, Chris Hyams, Vinod Khosla, Svenja, Gudell, it's, Khosla, Indeed's Gudell, there's, Edward Kim, coders Kim, aren't, Kim, It's, " Altman Organizations: Service, GenAI, Sun Microsystems, BI Locations: Silicon Valley, execs, OpenAI, Canada
Homebuyers can also now put less money down on their purchases — an attempt to breathe life into China's moribund property market. Since the pandemic, China's leader, Xi Jinping, has done little to stop the bleeding in the country's property market or to get China's ailing consumers to start spending money again. Xi's Beijing lacks the will and the power to turn China's economy around. At the heart of its problems is a lack of consumer demand and a property market going through a deep, slow-moving correction. Plus, there's Xi, who seems fairly uninterested in restructuring the property market.
Persons: Gongsheng, Wall, Xi Jinping, China —, Goldman Sachs, , Sam Altman, Genéralé, Michael Pettis, Xi doesn't, Friedrich Hayek, Xi Organizations: Beijing, People's Bank of China, People's Bank, Shanghai, Chinese Communist Party, Nasdaq, CCP, Peking University, Carnegie Endowment, European Union Locations: China's, China, Beijing, Austrian
Insider Today: Retirement savings mistakes
  + stars: | 2024-09-29 | by ( Matt Turner | ) www.businessinsider.com   time to read: +4 min
download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Getty ImagesRetirement savings no-no'sAbout 45% of Americans will run out of money in retirement — even those who invested and diversified. If you're aiming to retire at the standard age of 65, avoid these mistakes so you can keep your golden years golden. AdvertisementThe four biggest retirement mistakes. And with Meta's smart Ray-Ban glasses doing better than expected, the company appears to be winning the glasses wars.
Persons: , Alberto E, Rodriguez, Jimmy Donaldson, Donaldson, obsessives, techies, Chris Gash, Zers, Saratta, Tom Brady, Jeff Bezos, Natalie Ammari, Mark Zuckerberg, Orion, aren't, Meta, Sam Altman Organizations: Business, Service, MrBeast, Getty, BI, Billionaire, Big Tech Locations: millennials, Florida
Floodwaters in the area of Gulfport, Fla., on Thursday, ahead of Hurricane Helene. Helene, a Category 4 hurricane, made landfall near Perry, Fla., some 200 miles north of Tampa. All three storms put wide swaths of the Tampa Bay region underwater, though none more than Helene, which brought storm surge into neighborhoods that had not seen such flooding in decades — or ever. Credit... Nicole Craine for The New York TimesImage Shore Acres, a flood-prone enclave on the edge of Tampa Bay in St. Petersburg. He would soon add another at three feet, to mark the amount of water that had flowed into his shop from Helene.
Persons: Hurricane Helene, Living, Helene, Idalia, Debby, ” Mimi Wills, I’ve, Nicole Craine, , Kento Kawakami, Meghan Martin, Hurricane Idalia, Jane Castor of, Ms, Castor, Gina Ryals, The New York Times “ I’m, , Chris Wilkerson, Michael Childress, Nancy Otto’s, Hurricane, Nancy Cotto, Cotto, Becki Weber, Ian, Anthony Altman Jr, Scott McIntyre, The New York Times “, Mike Cannon, Pete Beach, Michael Morton, Mr, Morton, Chris Grant, Grant, ” Mr, ” Emily Cochrane, Jennifer Reed Organizations: Hurricanes, Hurricane, Fla ., The New York Times, Tampa General Hospital, , Idalia, The New York, Shore, Fort Myers, ., Vermont Urban, Task Force Locations: Gulfport, Fla, Hurricane, Tampa Bay, Florida, Mexico, Tampa, Perry, South Tampa, Clearwater, Fla . Credit, Asheville, N.C, Florida , Georgia, North Carolina, South Carolina, Virginia, Atlanta, Erwin, Tenn, St . Petersburg, Old Port Tampa, Davis, downtown Tampa, Shore, Jane Castor of Tampa, St, Petersburg, Credit, Pinellas County, Hillsborough County, Fort Myers Beach, Crystal, Helene, Crystal River, Madeira Beach, Vermont, Fort Myers
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