🍟 Altman set to raise $10B to build AI chip factories
💡 Entrepreneur Strategist—The AI Tool Report GPT
Martin Crowley & Liam Lawson
January 22, 2024
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🌤️ This Morning on AI Tool Report
🍟 Altman set to raise $10B to build AI chip factories
📑 Ex-OpenAI chief-of-staff suspended over presidential candidate chatbot
💵 Musk denies AI start-up has raised $500M of $1B goal
🦄 VoiceAI start-up gains unicorn status after raising $80M
🚗 Google’s Waymo to expand driverless cars to LA
Read Time: 5 minutes
AI HARDWARE
Our Report: Altman is in talks with global investors to raise over $8B to set up a global network of chip fabrication plants to combat the supply/demand issues surrounding AI chip production.
🔑 Key Points:
Altman is in talks with Abu Dhabi-based G42, SoftBank Group Corp, and others to raise the capital needed and is reportedly focused on raising between $8 and $10B.
The fundraising push comes as forecasts for AI-chip production fall short of projected demand. Furthermore, chip leaders—including Intel, Samsung, and Microsoft—are in the running to partner with the OpenAI team for this.
Construction of the semiconductor factories needed to build AI chips requires extensive capital to build and maintain (a process so expensive that even Amazon, Google & Microsoft hire third parties to maintain this process).
🤨 Why you should care: Due to a lack of production capacity, chip production companies can’t make enough chips to meet demand. Fortunately, Altman's plans could assist in balancing supply/demand, allowing AI projects to continue at pace.
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REGULATIONS
Matt Krisiloff (former OpenAI chief-of-staff, now working at DelphiAI) developed a ChatGPT-powered chatbot (DeanBot) that impersonated Democratic presidential candidate—Dean Phillips—to support his political campaign.
Before using it, website visitors were shown a warning describing the nature of the chatbot and requesting consent for its use, and users would chat with DeanBot who would engage and encourage them to spread the Dean’s message.
Krisiloff has been suspended from OpenAI’s platform for going against its policies, which include building chatbots for political campaigning and lobbying.
✅ Designed for entrepreneurs, the Entrepreneur Strategist crafts advanced business plans, exports them into Word or Excel, and is trained to answer any question about any business topic.
Edition 1 of 3: The Business Plan
When To Use: When you're ready to turn your business idea into a reality, or you’re seeking to expand your existing venture and need a complete business plan.
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Stay tuned for the next Entrepreneur Strategist edition, focusing on monetization strategies.
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FUNDING
Musk has denied reports that his AI start-up (xAI) has secured $500M in investment (halfway towards its $1B goal), after BloomBerg falsely reported the opposite.
However, last December Musk had publicly stated that xAI was not raising any funds, but upon further inspection by US securities regulators, xAI has publicly filed to raise $1B.
Currently, xAI is discussing a valuation of between $15B – $20B, with some parties in the new investment round vying for computing power in addition to, or instead of, xAI equity shares.
STARTUPS
ElevenLabs (a start-up that develops AI-generated voices in different languages, with accents and emotions) gained unicorn status after raising $80M in Series B funding—led by A16z, Sequoia Captial, and others.
The 2-year-old start-up is now rumored to be valued at $1.1B, (an increase from its former $100M valuation), reflecting expectations for a surge in the adoption of AI voice generation by gaming giants and movie studios.
ElevenLabs’s current customer base includes Storytel, Paradox Interactive, and The Washington Post; however, they continue to run into regulatory issues as users utilize the technology to impersonate others without their strict consent.
AUTOMOTIVE
Waymo (Alphabet's autonomous driving unit) has applied to the California Public Utilities Commission for a license to operate in LA, which would allow Waymo to expand its driverless fleet (currently only operating in SF).
Additionally, Waymo is testing its autonomous passenger cars on freeways in Arizona and is planning to operate in Texas (despite extensive regulatory scrutiny).
Specifically, following a driverless car accident last year—which saw GM’s Cruise driverless car unit stop all supervised and manual car rides—many autonomous vehicle companies have had to adhere to stricter regulations.
Do you think driverless cars should be allowed?Would you ride in one personally? |
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Tesla Makes AI History: Full Self-Driving Beta v12 Unleashed!
Tesla has just announced the release of its Full Self-Driving (FSD) Beta v12, a groundbreaking update marking a significant leap in autonomous driving technology. This version is the first to fully operate on… twitter.com/i/web/status/1…
— Tesla Pablo 🔋⚡ (@pablo9948967714)
Jan 22, 2024
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