OpenAI Passes $1 Billion Revenue Pace as Big Companies Boost AI Spending
OpenAI Passes $1 Billion Revenue Pace as Big Companies Boost AI Spending
What a Leaked Memo from Google Reveals About the Future of AI
OpenAI Passes $1 Billion Revenue Pace as Big Companies Boost AI Spend
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What a Leaked Memo from Google Reveals About the Future of AI
OpenAI Passes $1 Billion Revenue Pace as Big Companies Boost AI Spending
OpenAI is currently on pace to generate more than $1 billion in revenue over the next 12 months from the sale of artificial intelligence software and the computing capacity that powers it. That’s far ahead of revenue projections the company previously shared with its shareholders, according to a person with direct knowledge of the situation.
The billion-dollar revenue figure implies that the Microsoft-backed company, which was valued on paper at $27 billion when investors bought stock from existing shareholders earlier this year, is generating more than $80 million in revenue per month. OpenAI generated just $28 million in revenue last year before it started charging for its groundbreaking chatbot, ChatGPT. The rapid growth in revenue suggests app developers and companies—including secretive ones like Jane Street, a Wall Street firm—are increasingly finding ways to use OpenAI’s conversational text technology to make money or save on costs. Microsoft, Google and countless other businesses trying to make money from the same technology are closely watching OpenAI’s growth….
by Amir Efrati & Aaron Holmes of The Information(hard paywalled)
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What a Leaked Memo from Google Reveals About the Future of AI
They have changed the world by writing software. But techy types are also known for composing lengthy memos in prose, the most famous of which have marked turning points in computing. Think of Bill Gates’s “Internet tidal wave” memo of 1995, which reoriented Microsoft towards the web; or Jeff Bezos’s “api mandate” memo of 2002, which opened up Amazon’s digital infrastructure, paving the way for modern cloud computing. Now techies are abuzz about another memo, this time leaked from within Google, titled “We have no moat”. Its unknown author details the astonishing progress being made in artificial intelligence (AI)—and challenges some long-held assumptions about the balance of power in this fast-moving industry.
AI burst into the public consciousness with the launch in late 2022 of ChatGPT, a chatbot powered by a “large language model” (LLM) made by OpenAI, a startup closely linked to Microsoft. Its success prompted Google and other tech firms to release their own LLM-powered chatbots. Such systems can generate text and hold realistic conversations because they have been trained using trillions of words taken from the internet. Training a large LLM takes months and costs tens of millions of dollars. This led to concerns that ai would be dominated by a few deep-pocketed firms. But that assumption is wrong, says the Google memo. It notes that researchers in the open-source community, using free, online resources, are now achieving results comparable to the biggest proprietary models.
….As open-source researchers built on each other’s work with LLAMA, “a tremendous outpouring of innovation followed,” the memo’s author writes. This could have seismic implications for the industry’s future. “The barrier to entry for training and experimentation has dropped from the total output of a major research organization to one person, an evening, and a beefy laptop,” the Google memo claims. An LLM can now be fine-tuned for $100 in a few hours. With its fast-moving, collaborative and low-cost models, “open-source has some significant advantages that we cannot replicate.” Hence the memo’s title: this may mean Google has no defensive “moat” against open-source competitors. Nor, for that matter, does OpenAI.
….Whether Google and its ilk really have lost their moat in ai will soon become apparent. But as with those previous memos, this feels like another turning point for computing.
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