OpenAI Is in Talks to Raise New Funding at Valuation of $100 Billion or More
OpenAI Is in Talks to Raise New Funding at Valuation of $100 Billion or More
Apple joins AI fray with release of model framework
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OpenAI Is in Talks to Raise New Funding at Valuation of $100 Billion or More
Apple joins AI fray with release of model framework
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OpenAI Is in Talks to Raise New Funding at Valuation of $100 Billion or More
OpenAI is in early discussions to raise a fresh round of funding at a valuation at or above $100 billion, people with knowledge of the matter said, a deal that would cement the ChatGPT maker as one of the world’s most valuable startups.
Investors potentially involved in the fundraising round have been included in preliminary discussions, according to the people, who asked not to be identified to discuss private matters. Details like the terms, valuation and timing of the funding round haven’t yet been finalized and could still change, the people said.
If the funding round happens as planned, it would make the artificial intelligence darling the second-most valuable startup in the US, behind only Elon Musk’s Space Exploration Technologies Corp., according to data from CB Insights.
OpenAI declined to comment.
The company is set to complete a separate tender offer in early January, which would allow employees to sell their shares at a valuation of $86 billion, Bloomberg previously reported. That is being led by Thrive Capital and saw more demand from investors than there was availability, people familiar with the matter have said.
OpenAI’s rocketing valuation mirrors the AI frenzy it kicked off one year ago after releasing ChatGPT, a chatbot capable of composing eerily human sentences and even poetry in response to simple prompts. The company became Silicon Valley’s hottest startup, raising $13 billion to date from Microsoft Corp., and spurred a new appreciation for the promise of AI that changed the tech industry landscape within a few months….
By Gillian Tan, Edward Ludlow, and Shirin Ghaffary of Bloomberg(tap to read in full)
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Apple joins AI fray with release of model framework
Apple, which many had considered very conservative in its approach to AI, quietly released frameworks and model libraries designed to run on its chips and maybe bring generative AI apps to MacBooks.
The company’s machine learning research team released MLX, a machine learning framework where developers can build models that run efficiently on Apple Silicon and deep learning model library MLX Data. Both are accessible through open-source repositories like GitHub and PyPI.
….However, these focused on machine learning and not the popular generative AI applications that competitors like Microsoft and Google have been chasing. Apple even steers clear of using the word AI in many of its keynote presentations.
In September, Apple reportedly began working on foundational models to see which can be implemented across its services.
by Emilia David of The Verge(tap to read in full)
Cheers! SBalley Team