BREAKING >>> Sam Altman will NOT be returning as CEO of OpenAI after drama-full weekend for the AI space
Negotiations to get Altman back in the company started less than 24 hours after he was fired. Investors including Microsoft attempted many rounds of negotiations. Staff at OpenAI have also threatened to quit if Altman does not return. But according to CNBC and Bloomberg, the board of OpenAI is bringing in former Twitch CEO Emmett Shear to run the artificial intelligence company, two days after the sudden ouster of Sam Altman, CNBC has confirmed. The Information and Bloomberg both reported on the hiring of Shear earlier. The news was confirmed to CNBC by a person familiar with the matter who asked not to be named because the discussions were confidential. Source: CNBC
In the weeks leading up to his shocking ouster from OpenAI, Sam Altman was actively working to raise billions from some of the world’s largest investors for a new chip venture
(according to people familiar with the matter) Code-named Tigris, Sam planned to spin up an AI-focused chip company that could produce semiconductors that compete against those from $NVDA The goal is to provide lower-cost competition to market incumbent Nvidia and aid OpenAI by lowering the ongoing costs of running its own services like ChatGPT and Dall-E - Bloomberg Source: Cheddar Flow
Microsoft announces custom AI chip that could compete with Nvidia
- Microsoft is introducing its first chip for AI, along with an Arm-based chip for general-purpose computing jobs. - Both will come to Microsoft’s Azure cloud, Microsoft said at its Ignite conference in Seattle. -mThe Graviton Arm chip that cloud leader Amazon Web Services introduced five years ago has gained broad adoption. Source: CNBC, Stocktwits
Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has announced plans for a challenge focused on generative artificial intelligence
The winners is set to receive a total of Dh1 million ($272,290) amid the emirate's shift towards the future economy. The Global Prompt Engineering Championship will be held in May next year at Dubai’s Museum of the Future. In the context of AI, a prompt refers to a specific request made to a language model such as ChatGPT, which can in turn provide a response or solution for a user. Source: The National News
Some updates on Chatgpt by Linas Beliūnas
OpenAI just released two biggest updates to ChatGPT ever 😳
Bitcoin has outperformed equities, gold and USD year-to-date It has increased by more than 100% this year, despite:
- War Conflict - Elevated inflation - Rising oil prices - High-interest rates This is what happens when institutions like Blackrock jump on board Institutional adoption is going to be a major theme for this asset class. Source: Game of Trades
OpenAI valuation in perspective - chart by Chartr
Talk is meant to be cheap, but OpenAI, the force behind the viral hit ChatGPT, has turned it into an absolute goldmine, with the company currently in discussions to sell shares at a valuation of $86 billion. That's a remarkable three-fold increase from just 6 months ago, with the WSJ reporting an initial range of $80-90bn, before Bloomberg narrowed the figure to around $86bn, citing sources familiar with the matter. That would place OpenAI among the most valuable tech startups in the world, only behind giants like ByteDance (TikTok owner) and SpaceX. For context, it’s also roughly equivalent to the value of 12 of the biggest consumer brands in America combined — a theoretical corporate frankenstein including SNAP, The New York Times, Etsy, Domino’s and 8 others.
Did President Biden pop the AI nvidia bubble?
A similar boom/bust head & shoulders already happened in the recent past... Source: Bloomberg, www.zerohedge.com
