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OpenAI Seeks $90 Billion Valuation in Possible Share Sale, WSJ Says

OpenAI Seeks $90 Billion Valuation in Possible Share Sale, WSJ Says

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In a move that could reshape the landscape of artificial intelligence (AI) development, OpenAI is reportedly in talks with investors regarding a potential share sale that could value the cutting-edge startup at a staggering $80 billion to $90 billion. 

OpenAI Seeks $90 Billion Valuation in Possible Share Sale, WSJ Says
Image Source: finance.yahoo.com

This groundbreaking development, revealed by the Wall Street Journal on Tuesday, cites insider sources familiar with the matter. The proposed deal, as disclosed by those close to the discussions, aims to allow existing OpenAI employees to cash in on their shares, rather than the company opting to issue new shares to generate additional capital. This strategic move not only provides a lucrative opportunity for OpenAI’s workforce but also positions the company as a key player in the fiercely competitive AI industry.

Representatives from OpenAI have already commenced discussions with potential investors, presenting the deal’s terms. However, it’s essential to note that the reported terms are subject to change, and negotiations are still in progress. The startup’s decision to opt for a share sale rather than conventional fundraising avenues suggests a unique approach to fueling its growth trajectory.

OpenAI, the brainchild behind the highly acclaimed ChatGPT, has been at the forefront of AI innovation, consistently pushing the boundaries of what is achievable in the field. The potential valuation of $80 billion to $90 billion is a testament to the company’s standing in the industry and its promise for future advancements.

While this move could signify a significant financial boost for OpenAI, it also raises questions about the company’s future plans and the potential impact on the development of AI technologies. Investors are likely to closely scrutinize the terms and conditions of the proposed share sale, evaluating the risks and rewards associated with investing in a venture of this nature.

As of now, OpenAI has not provided an official statement or response to queries from Reuters, leaving the industry and the public eager for further details. The outcome of these negotiations could potentially position OpenAI as one of the most valuable AI startups globally, shaping the trajectory of the industry and influencing the direction of future technological advancements. As the talks unfold, the tech world watches closely, anticipating the next chapter in OpenAI’s remarkable journey.

Amazon to Invest as Much as $4 Billion in AI Startup Anthropic

Amazon to Invest as Much as $4 Billion in AI Startup Anthropic

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Amazon has announced a significant investment of up to $4 billion in the cutting-edge artificial intelligence startup, Anthropic. 

Amazon to Invest as Much as $4 Billion in AI Startup Anthropic
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This move is part of Amazon’s strategic efforts to stay competitive in the rapidly evolving field of AI and cloud computing, where it faces stiff competition from rivals like Microsoft and Google.

Under the terms of the deal, Amazon’s employees and cloud customers will gain early access to Anthropic’s advanced AI technology, enabling them to integrate it into their businesses. Anthropic, headquartered in San Francisco, has also committed to relying primarily on Amazon’s cloud services, including using Amazon’s proprietary chips for training its future AI models.

In a joint interview, the CEOs of Amazon’s cloud division and Anthropic revealed that the initial investment would amount to $1.25 billion. Additionally, both parties have the option to trigger an additional $2.75 billion in funding from Amazon at a later date. However, specific details about Amazon’s ownership stake in Anthropic and the startup’s updated valuation remain undisclosed. Amazon emphasized that it would not acquire a board seat and that its stake would constitute a minority position.

This investment marks Amazon’s most significant response to the AI advancements made by its competitors, particularly Microsoft and Alphabet’s Google. Microsoft has been investing billions in its partnership with OpenAI since 2019, providing its customers with exclusive access to OpenAI’s innovative text and image generation technology. Google, on the other hand, has been at the forefront of AI development and previously invested in Anthropic during its $450 million fundraising round in May.

The collaboration between Amazon and Anthropic is expected to drive demand for AI-related hardware, including chips essential for AI applications. Anthropic has agreed to collaborate with Amazon on developing technology for Amazon’s in-house Trainium and Inferentia chips.

This investment demonstrates the ongoing efforts of major cloud companies to establish ties with AI startups reshaping the industry landscape. These partnerships are crucial for staying ahead in the fiercely competitive AI and cloud computing market.

Also Read: Amazon Prime Video Content to Include Ads Starting Early 2024

As Amazon intensifies its focus on AI through its investment in Anthropic, the tech giant aims to enhance its position in the AI race, competing head-to-head with industry leaders such as Microsoft, Google, and others. The outcome of this strategic partnership will likely have a significant impact on the future of AI technology and its integration into Amazon’s extensive range of services.

As the tech world continues to evolve, Amazon’s investment in Anthropic showcases the company’s commitment to staying at the forefront of technological innovation and delivering cutting-edge solutions to its customers. With the potential to shape the future of AI, this partnership marks a pivotal moment in the ongoing battle for supremacy in the cloud and AI space.

Infosys and NVIDIA Collaboration

Infosys and NVIDIA Collaborate to Help World’s Enterprises Boost Productivity with Generative AI

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On Wednesday, Infosys and NVIDIA declared that they have intensified their strategic partnership to support businesses all over the world in using generative AI tools and applications to increase productivity.

Infosys and NVIDIA Collaboration
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The expanded collaboration will provide Infosys Topaz, an AI-first suite of services, solutions, as well as platforms that enhance company value by leveraging generative artificial intelligence technologies, with access to the NVIDIA AI Enterprise network of models, runtimes, tools, plus GPU systems. Infosys will develop products that clients can use to quickly incorporate generative AI into their operations through the integration, the firm stated in its regulatory submission.

Furthermore, Infosys announced plans to establish an NVIDIA Excellence Centre, where it would educate and certify 50,000 of its staff members on NVIDIA artificial intelligence (AI) technology to offer generative artificial intelligence (AI) services to its extensive network of clients across sectors.

“Infosys is transforming into an AI-first company to better provide AI-based services to our clients worldwide. Our clients are also looking at complex AI use cases that can drive significant business value across their entire value chain,” said Nandan Nilekani, Co-founder and Chairman, Infosys.

“Infosys Topaz offerings and solutions are complementary to NVIDIA’s core stack. By combining our strengths and training 50,000 of our workforce on NVIDIA AI technology, we are creating end-to-end industry leading AI solutions that will help enterprises on their journey to become AI-first,” he added.

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Integrated Full-Stack NVIDIA Enables Sophisticated Infosys Services To foster creativity across all of its business processes, Infosys leverages the full-stack NVIDIA generative artificial intelligence platform, which includes enterprise-grade software as well as hardware. Infosys also assists clients in developing generative artificial intelligence applications for company operations, revenue, and advertising.

The NVIDIA AI Enterprise network is swiftly scaling up to deliver the generative AI platform. Together with Infosys, NVIDIA is going to create a skilled workforce to assist startups in using this platform to develop unique applications and services.

Also Read: OpenAI Releases Third Version of AI Image Creator DALL-E in October

Infosys is currently developing several AI-first business solutions across sectors using NVIDIA AI Enterprise systems, models with prior training, and toolkits, such as the NVIDIA NeMo LLM structure, NVIDIA Metropolis for computer vision, including NVIDIA Riva for speech Intelligence.

combining the Infosys Video Analytics solution with NVIDIA Metropolis, which uses the capabilities of computer vision to tackle a variety of difficulties facing the retail sector, which includes the creation of seamless purchasing experiences.

OpenAI releases third version of AI image creator DALL-E in October

OpenAI Releases Third Version of AI Image Creator DALL-E in October

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OpenAI is now enhancing its services after introducing generative AI models that produce visuals based on user text inputs. The business that created ChatGPT is releasing DALL-E 3, the third iteration of its AI image maker. What’s new is as follows.

OpenAI releases third version of AI image creator DALL-E in October
Image Source: techstartups.com

DALL-E 3 allegedly comprehends much more depth and detail in text prompts than previous versions, according to OpenAI. In turn, this enables users to produce visuals closer to the concepts they are thinking about.

“Modern text-to-image systems have a tendency to ignore words or descriptions, forcing users to learn prompt engineering. DALL-E 3 represents a leap forward in our ability to generate images that exactly adhere to the text you provide,” the company said. OpenAI CEO Sam Altman shared some examples of images created by DALL-E 3 emphasising the accuracy of the results produced based on text prompts.

moneycontrol.com

According to OpenAI, because DALL-E 3 is developed natively on ChatGPT, certain aspects of the complexity associated with prompt engineering, or the process of fine-tuning the text that is provided to the program, are reduced. Users may still make adjustments using ChatGPT’s interactive interface. By lowering the threshold for producing complex AI artwork, the new tool may also enable OpenAI to maintain an advantage over rivals because of the greater capabilities of its chatbot.

“When prompted with an idea, ChatGPT will automatically generate tailored, detailed prompts for DALL-E 3 that bring your idea to life. If you like a particular image, but it’s not quite right, you can ask ChatGPT to make tweaks with just a few words,” the company noted.

moneycontrol.com

Beginning in early October, ChatGPT Plus and Enterprise clients will have access to DALL-E 3. DALL-E 3 images can be reprinted, bought, or used to make products. Additionally, according to OpenAI, DALL-E 3 won’t produce any violent, pornographic, or xenophobic material. There are ways to deal with inquiries that specifically ask for a prominent figure’s name.

Read More: Elon Musk’s Neuralink to Start the human trial of Brain implant for paralysis Patients

However, the usage of these artificially intelligent art systems has also raised questions about how copyrighted content is used by AI businesses to train their algorithms, as well as the possibility that professional human creators may be replaced.

OpenAI also revealed today that it will introduce a method for artists to have their creations excluded from further training runs as a response to this uproar. Dall-E 3 will also stop users from attempting to create artwork in the manner of a famous artist by recognizing when that is mentioned in a prompt.

AI Startup Corti Raises $60 Million to Take on Microsoft in Health Care

AI Startup Corti Raises $60 Million to Take on Microsoft in Health Care

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Copenhagen-based startup Corti has secured a substantial $60 million in funding to further advance its mission of revolutionizing the healthcare industry through AI technology.

AI Startup Corti Raises $60 Million to Take on Microsoft in Health Care
Image Source: mpost.io

The investment was led by Prosus Ventures and Atomico, with participation from previous backers Eurazeo, EIFO, and Chr. Augustinus Fabrikker. Although the company has remained tight-lipped about its valuation, its remarkable growth in customers and usage speaks volumes about its impact in the sector.

Just two years ago, Corti raised $27 million in a Series A round when it was assisting in 15 million consultations annually. Now, the company proudly serves 100 million patients each year, with its AI assistant being utilized a staggering 150,000 times daily. This translates to approximately 55 consultations daily across Europe and the United States. Corti boasts that its tools can enhance healthcare workers’ accuracy in outcome predictions by up to 40% while making administrative tasks 90% faster.

Corti’s innovative AI service is often described as an “AI co-pilot” for healthcare professionals, covering various areas of patient care. It assists in triaging during patient interactions, documents entire interactions, offers in-depth analysis to guide decision-making, provides second opinions, and generates real-time and post-meeting notes to identify areas for improvement and clinician training.

Corti’s success reflects the growing adoption of AI in healthcare, particularly after the COVID-19 pandemic highlighted the need for efficient and accurate medical support. The startup has attracted a diverse range of customers, including emergency services in Seattle, Boston, and Sweden, as well as numerous hospitals and medical services.

Unlike some competitors that rely on existing AI models, Corti has taken a unique approach by developing its own AI models and components. Notably, the company has not employed in-house medical experts to avoid introducing bias into its system. Instead, Corti engaged researchers to fine-tune its AI, resulting in a more responsive and functional platform.

Also Read: Solana Co-Founder: To Keep the Next Great American Founder in America, Congress Must Regulate Crypto. But First Lawmakers Should Learn How it Works.

While initial skepticism and concerns about job replacement were common when Corti first launched in 2018, the broader acceptance of AI, epitomized by technologies like ChatGPT, has paved the way for more productive conversations. Corti aims to make AI in healthcare a mundane and indispensable part of the industry, steering clear of the contentious debates about its role.

Despite differing opinions on the impact of AI in medicine, Corti’s funding round signals a commitment to improving healthcare efficiency and provider capabilities. With the support of visionary founders Andreas Cleve and Lars Maaløe, Corti is poised to redefine the patient and healthcare experience, ultimately enabling more personalized, preventative, and proactive medicine in a rapidly evolving industry.

Intel CEO Says the Chipmaker’s Technology Is Central to AI Boom

Intel CEO Says the Chipmaker’s Technology Is Central to AI Boom

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In a bold and ambitious statement, Intel Corp.’s Chief Executive Officer, Pat Gelsinger, has emphasized the pivotal role that the company’s technology will play in the forthcoming AI revolution. 

Intel CEO Says the Chipmaker’s Technology Is Central to AI Boom
Image Source: tech.hindustantimes.com

Speaking at Intel’s annual Innovation conference, Gelsinger outlined Intel’s advancements in production technology and developer tools for AI, underlining how these innovations are set to shape the AI landscape. Gelsinger believes that the surge in AI capabilities driven by personal computers will create unprecedented opportunities for developers and businesses. He described AI as a “generational shift,” one that will usher in a new era of global expansion where computing becomes even more fundamental to shaping a better future for humanity. Gelsinger stated, “For developers, this creates massive societal and business opportunities to push the boundaries of what’s possible, to create solutions to the world’s biggest challenges.”

Intel, once a dominant player in the semiconductor industry, has been working tirelessly to regain its leadership position. Gelsinger is resolute in his vision of Intel’s resurgence as a driving force in the AI computing sector. He argued that AI’s reach will not be confined solely to the data centers of major cloud providers, such as Nvidia Corp., which has been dominating the AI accelerator market. Instead, AI will extend its influence into new domains, including the PC market, which has seen limited growth in recent years.

As part of Intel’s ambitious agenda, Gelsinger reaffirmed the company’s commitment to rapidly upgrading its manufacturing technology. He revealed that Intel 3, a cutting-edge chipmaking technique, will be introduced by the end of the year. Intel aims to overcome its past manufacturing setbacks and compete effectively with Taiwan Semiconductor Manufacturing Co. and Samsung Electronics Co.

Intel has also made strides in its accelerator efforts, with the Gaudi2 product line gaining recognition in certain areas. Gelsinger unveiled plans for Intel Core Ultra processors, equipped with an integrated “neural processing unit” designed to accelerate AI software in PCs. These processors are slated for release in December and are expected to bring AI capabilities to a wider range of personal computing devices.

Also Read: IBM Commits To Train 2 Million in Artificial Intelligence in Three Years, With a Focus on Underrepresented Communities

In a surprising move, Gelsinger announced that Intel would open its factory network to external customers, even if they were potential competitors. This venture into the foundry business is a bold step, requiring Intel to reestablish itself as a pioneer in advanced manufacturing by 2025, a promise that Gelsinger is determined to fulfill.

Pat Gelsinger’s resounding message at the Innovation conference is clear: Intel intends to be at the forefront of the AI revolution, leveraging its technological advancements and manufacturing prowess to shape the future of computing. As the AI boom continues to reshape industries and societies, Intel is poised to play a pivotal role in driving innovation and addressing some of the world’s most pressing challenges.