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| Welcome to Inside AI! Here are today's top stories: - OpenAI is exploring a sale of existing shares that could triple its valuation.
- Meta unveils AI assistant and new chatbots across platforms.
- Sam Altman and Jony Ive are in talks about an OpenAI hardware device.
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p/beth-duckett | |
| 1 | | OpenAI is in talks for a potential share sale that could value the company at up to $90B, significantly higher than its nearly $30B valuation earlier this year. According to the Wall Street Journal, the deal is expected to allow OpenAI employees to sell their shares rather than the company issuing new ones. More: - OpenAI has reportedly started pitching the deal to investors.
- A valuation of $80B-90B would make privately-held OpenAI one of the most highly valued startups worldwide.
- If finalized, it would be OpenAI's second major secondary share sale. Earlier this year, the company closed a $300M share sale at a $27B-$29B valuation.
This story is developing. Look for updates in upcoming issues. |     | |
| 2 | | Meta unveiled a range of new AI services at its Connect event today. Meta's new AI assistant and chatbot generates both text and images on WhatsApp, Messenger, and Instagram. It's also rolling out 28 AI characters in its messaging apps, including ones based on celebrities like Charli D'Amelio, MrBeast, Snoop Dogg, and Paris Hilton. Chatbot: - Meta AI, currently in beta, is an advanced conversational assistant.
- The chatbot offers real-time information through a partnership with Microsoft Bing and includes an image generation tool leveraging Meta's new Emu model.
- Meta AI is powered by a custom model based on Meta's open-source Llama 2 and other LLM technology.
AI characters: - Meta is introducing 28 other AI bots across its services, each with distinct backstories and personalities, with some portrayed by cultural icons and influencers.
- Examples include Tom Brady as Bru, a "wisecracking sports debater who pulls no punches," and Dwyane Wade as Victor, an "Ironman triathlete motivating you to be your best self."
- Users can interact with the bots using natural language prompts. Each will have profiles on Instagram and Facebook.
Other Connect announcements: - Meta introduced AI Studio, allowing businesses and developers to build third-party custom chatbots for Facebook, Instagram, and Messenger.
- The company is rolling out AI stickers for select users to create customized stickers from text prompts.
- On the hardware side, Meta unveiled its Quest 3 mixed-reality headset and Ray-Ban Meta smart glasses, the successor to its two-year-old smart glasses.
- Meta's AI chatbot will be available for both the Quest 3 and smart glasses.
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| 3 | | Former Apple design chief Jony Ive and OpenAI CEO Sam Altman are in talks about creating a new AI hardware device, according to The Information. While only speculative, Gizmodo reports that one "ambitious" possibility is an OpenAI smartphone, which would leverage Ive's expertise and the growing trend of integrating AI technology into mobile devices. The global mobile AI market reached $15.4B in 2022 and is projected to surpass $170B by 2032. 
The news: Ive and Altman, who are friends, have been engaged in conversations about what "new hardware for the AI age could look like." SoftBank CEO and billionaire Masayoshi Son is also said to be involved in the talks to some extent. Further details about the hardware project were not available, and OpenAI and SoftBank have not commented on the matter. Zoom out: First hired in 1992, Ive was a close confidant of Steve Jobs and designed Apple's candy-colored cases for desktop computers and the iPhone's rounded edges. He left Apple in 2019 but stayed on as a consultant until July 2022. Meanwhile, OpenAI has some cash to spend as it expects to reach $1B in revenue this year. The company appears well-positioned to navigate potential challenges in any hardware project. Q: What types of features or capabilities would you want to see in a potential OpenAI hardware device? Share your thoughts and join the conversation here. | | | |
| 4 | | The Writers Guild of America (WGA) has reached a deal with Hollywood studios to end the five-month-long writers' strike. The new contract includes restrictions around the use of AI in TV and film scriptwriting, further protecting writers from the threat of AI. More: - Per the contract, AI cannot write or rewrite literary material.
- AI-generated materials will not be considered source material under the contract, meaning that AI-created material cannot be used to "undermine a writer's credit or separated rights."
- Writers can still use AI in their writing services as long as they have studio consent and comply with company policies.
- A company can't require a writer to use AI software and must inform writers if any materials given contain or are created by AI.
- A provision gives the WGA the authority to challenge the use of writers' work in training AI software.
Zoom out: | | | |
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| 5 | | OpenAI's ChatGPT can now browse the internet for up-to-date information and is no longer limited to data before September 2021. The new capability leverages Microsoft's Bing search engine to process user questions and provide more recent answers. More: - The capability, called "Browse with Bing," is now available to ChatGPT Plus and Enterprise subscribers and will expand to all users soon.
- The internet browser feature provides answers from online sources with direct links.
- Bing's integration into ChatGPT for web browsing is likely because Microsoft is a major investor and owns 49% of OpenAI.
Zoom out: - Microsoft's Bing Chat in Windows, Edge browser, and third-party plugins, along with Google's Bard in Chrome and other browsers, can already provide real-time web information.
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| 6 | | 🍋 FRESH FUNDING 🍋 - AI semiconductor startup Kneron extended its Series B funding round with an additional $49M from Foxconn, Alltek, Horizon Ventures, Liteon Technology Corp, Adata, and Palpilot.
- Healthcare automation robotics startup Diligent Robotics secured $25M in fresh funding led by Canaan. True Ventures, DNX Ventures, Next Coast Ventures, and Northwestern Medicine Innovation participated in the funding round.
- Germany-based self-driving truck startup Fernride extended its Series A funding round with $19M in fresh funding, which brings the total raised under the round to $50M. Deep Tech and Climate Funds (DTCF), Munich Re Ventures, Bayern Kapital, and Klaus Kleinfeld provided the funding.
- AI model testing and validation solution Kolena raised $15M in Series A funding led by Lobby Capital. SignalFire, BloombergBeta, 11.2 Capital, and Zero Prime Ventures participated in the round.
- Continuum Industries, a British startup providing AI-powered infrastructure development platform for power, utility, and renewables companies, locked in $10M in Series A funding. Singular led the latest funding round with additional backing from Credo, Playfair, Techstart Ventures, and others.
For the latest on AI startup funding and more in the VC community, subscribe to our Inside Venture Capital newsletter. | | | |
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INSIDE AI LEADERBOARD (7 DAYS) |
 | AI and technology writer | | Beth is the writer of Inside's AI and Tech newsletters, with a career spanning journalism and editing since 2007. She has written for publications including The Arizona Republic, USA Today, and others, and authored a book on the solar industry in 2016. Reach out to her at Beth.Duckett@yahoo.com. | | This newsletter was edited by Aaron Crutchfield | |
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