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- The $90 billion chat...💬
The $90 billion chat...💬
....OpenAI is making headlines about a valuation that might reach $90 billion....
Lavena Xu-Johnson
September 28, 2023
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OpenAI is making headlines with news about a possible new AI device and a valuation that might reach $90 billion.
⏰ Top 5 Headlines
Image: Whoop
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🧰 Trending Tools
💬 Deeper Dives
OpenAI seeks new valuation of up to $90 billion in sale of existing shares
OpenAI is reportedly in talks with investors for a share sale that could value the company at $80 billion to $90 billion, a threefold increase from earlier this year. The company, 49% owned by Microsoft, anticipates reaching $1 billion in revenue this year and expects to generate even more in 2024. This potential valuation would position OpenAI among the most highly valued startups globally, reflecting its significant impact on Silicon Valley and the broader tech landscape, compelling even industry giants like Google and Meta to recalibrate their strategies in the AI race. (WSJ)
Billionaire Xavier Niel invests €200 million in French AI push
Billionaire Xavier Niel is injecting €200 million ($212 million) into the field of artificial intelligence, dividing the investment among a prospective research lab in Paris, cloud supercomputing capabilities powered by Nvidia Corp. hardware, and support for startups. Niel's objective is to entice top French AI engineers back to their homeland, fostering the development of AI products that can rival industry giants like OpenAI. The move is driven by concerns over geopolitical dominance in AI, with Niel emphasizing the need for France to avoid dependency on algorithms and machines from other nations, particularly the U.S. and China. Despite the funding gap compared to U.S. counterparts, Niel remains optimistic about Europe's potential for disruptive innovation in the AI sector. (Bloomberg)
Designer Jony Ive and OpenAI’s Sam Altman discuss AI hardware project
Renowned iPhone designer Jony Ive and OpenAI CEO Sam Altman are reportedly in talks about developing a new AI hardware device, as disclosed by sources familiar with the discussions. The potential collaboration, which has drawn interest from SoftBank CEO Masayoshi Son, remains uncertain in terms of its form and the involvement of these key players. If realized, this venture would mark a significant move for both Ive, who departed Apple in 2019, and OpenAI, a leading force in artificial intelligence, as they explore the possibilities of new hardware for the era of AI. (The Information)
🚀 Funding Spotlight
Google DeepMind alum raises $14 million for new AI venture firm.
Former Tinder CEO Renate Nyborg’s startup Meeno, which aims to fight loneliness through an AI-powered chatbot, announced that it has raised a $3.9 million seed round led by Sequoia.
Mythos Ventures grabs $14 million for inaugural fund to invest in AI.
🤳 Extra reads
The Verge: The new WGA contract will change how Hollywood works.
The New Yorker: Rethinking the Luddites in the age of A.I.
The Atlantic: So much for ‘learn to code’.
McKinsey: The promise of travel in the age of AI.
The Hill: AI girlfriends are ruining an entire generation of men.