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AI Inflation Continuing
Two tech giants might cover OpenAI's $100 billion valuation.
Magna Ding
August 30, 2024
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OpenAI thought it's worth $100 billion, and others agreed… What do you think?
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TODAY’S AI SECRET:
Two tech giants might cover OpenAI's $100 billion valuation.
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AI utilization in Korean companies is just 30.6%.
Meta's open-source strategy advances significantly.
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BIG NAMES
Two tech giants might cover OpenAI's $100 billion valuation.
OpenAI has announced that it will start its next round of funding with an impressive valuation of $100 billion. In response, Apple and Nvidia might decide to invest.
The Details:
Infinitely Expanding Bubble: Apple and Nvidia are in talks to fund OpenAI, potentially valuing it over $100 billion. Thrive Capital leads this round, with support from Microsoft and other investors. OpenAI's valuation has jumped from $29 billion to nearly $100 billion due to these investments.
Tech Integration and Collaboration: Apple plans to integrate ChatGPT with Siri to enhance its virtual assistant offerings. Nvidia, a key hardware supplier for OpenAI, could deepen its ties, emphasizing the symbiotic relationship between AI software and hardware advancements.
Product Innovations and Market Expansion: The launch of products like ChatGPT and ventures into AI-generated media have catalyzed OpenAI’s revenue, surpassing $2 billion annually. This growth is further propelled by the upcoming SearchGPT, which could reshape how users interact with search technologies.
Why It Matters:
By joining forces, these companies are not just funding technology; they are setting the stage for the next wave of AI innovation that could redefine how we interact with technology on a daily basis.
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AI SURVEY
AI utilization in Korean companies is just 30.6%.
A recent survey reveals a significant gap between the perceived necessity and the actual implementation of artificial intelligence (AI) technology in Korean companies. While a large majority recognize the potential benefits of AI in enhancing business performance, actual usage remains relatively low across various sectors.
The Details:
High Demand, Low Implementation: 78.4% of Korean companies acknowledge the need for AI to boost productivity and reduce costs, yet only 30.6% have integrated AI technology into their operations.
Sector-Specific Utilization: AI adoption is highest in the service industry, particularly within financial and IT services, contrasting sharply with a mere 23.8% utilization rate in the manufacturing sector.
Diverse Applications and Impacts: The predominant use of AI is in product development, with significant impacts noted in time reduction for business processes. The adoption rates vary significantly by company size and region, indicating a technology gap.
Why It Matters:
This gap could potentially place Korean industries at a competitive disadvantage internationally, where counterparts in other countries are accelerating their AI adoption.
BIG NAMES
Meta's open-source strategy advances significantly.
Meta's Llama AI models are gaining traction among major companies for key business functions, reflecting increasing trust in open-source AI technologies.
The Details:
Widespread Adoption by Major Corporations: Companies like Goldman Sachs and AT&T are utilizing Meta's Llama AI for tasks such as customer service, document review, and code generation.
Impressive Download Figures: The Llama models have been downloaded nearly 350 million times, indicating strong interest and acceptance in the market, particularly after the release of Llama 3.
Strategic Free Distribution: Meta's strategy of offering the Llama AI models mostly free of charge is aimed at making them the industry standard, ensuring widespread usage and preventing market monopolization by competitors.
Why It Matters:
Meta's open-source strategy has seen significant success. In contrast to OpenAI's closed-source model, more companies seem willing to create their own business functions using Llama AI.
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