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In today's opening story, we shine a spotlight on a significant development shaking the AI community: Elon Musk has withdrawn his lawsuit against OpenAI and its co-founders, CEO Sam Altman.

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TODAY’S AI SECRET:

• Elon Musk drops lawsuit against OpenAI.

• Apple stock hit a record high after announcing Apple Intelligence.

• Daily trending & featured AIs boost your career and business.

• Mistral AI, a European rival of OpenAI, has raised $640 million.

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TODAY’S AI WORLD

• AI Chip Race - Biden Administration considers new measures to limit China's access to advanced AI chip technology.

• Apple and AI Drive Bitcoin Crash - Bitcoin price falls below $70,000 as investments in Apple and AI rise.

• AI Chop Shop - An investigation by The New York Times revealed that BNN Breaking, which had a significant following and a deal with Microsoft, was rife with errors due to reliance on AI-generated content.

• Samsung Hires Ex-Apple Exec - Samsung has announced the combining of its AI research teams in Toronto and Mountain View, California, to form the North America AI Center, with former Apple executive Murat Akbacak appointed to lead the new division.

LAWSUIT

Elon Musk drops lawsuit against OpenAI.

Elon Musk has withdrawn his lawsuit against OpenAI and its co-founders, CEO Sam Altman and president Greg Brockman. This lawsuit, initially filed in February, accused OpenAI of prioritizing profits over its original mission to benefit humanity.

The Details:

• Lawsuit Withdrawal: Musk's attorneys requested the California state court to dismiss the lawsuit without prejudice, which means it could be refiled in the future. The reasons for the withdrawal were not provided by the attorneys.

• Original Allegations: The lawsuit claimed that OpenAI had deviated from its founding agreement to make its AI technology freely available, becoming a "closed-source de facto subsidiary" of Microsoft. OpenAI argued that the lawsuit was a strategy by Musk to advance his own AI interests.

• Context of the Lawsuit: Musk resigned from OpenAI's board in 2018 and stopped funding the company in late 2020. The dismissal follows Musk's recent threat to ban Apple devices from his companies, citing security risks related to OpenAI's AI software integration into Apple's operating systems.

Why It Matters:

• Potential for Future Legal Action: The dismissal without prejudice means that Musk could refile the lawsuit, indicating that the legal disputes between Musk and OpenAI are not entirely resolved.

• Impact on OpenAI's Operations: The allegations and the lawsuit's potential refiling could affect OpenAI's public image and its operations, particularly in its relationship with Microsoft and other partners.

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APPLE

Apple stock hit a record high after announcing Apple Intelligence.

Apple's announcement of its entry into the AI space has led to a significant breakthrough in its stock price, reaching a new record high. This move signifies a potentially transformative economic effect as the company leverages AI to redefine its product offerings and consumer interactions.

The Details:

• Record Stock Price: Apple's shares soared to $207.15, surpassing previous highs and reflecting investor optimism about its AI strategy.

• AI Features Announcement: At its developer conference, Apple unveiled a range of AI capabilities, setting the stage for future growth.

• Economic Impact Potential: The integration of AI is expected to drive an upgrade super cycle, accelerating device replacement cycles and potentially boosting overall sales.

Why It Matters:

• Investor Confidence: The stock price rally post-announcement underscores strong market confidence in Apple's AI-driven growth potential.

• Upgrade Cycle Boost: Analysts predict that new AI features will incentivize consumers to upgrade their devices, enhancing Apple's economic outlook.

• Long-Term Growth Strategy: Apple's AI initiative is seen as a pivotal move that could sustain outperformance and lead to significant economic impacts in the tech sector.

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MISTRAL AI

Mistral AI, a European rival of OpenAI, has raised $640 million.

Mistral AI, a Paris-based AI startup, raised $640 million in its Series B funding round, valuing the company at $6 billion. The firm aims to compete with OpenAI, Anthropic, and Meta with its advanced models.

The Details:

• Massive Funding Achievement: Mistral AI secured substantial investment in its Series B funding round led by General Catalyst.

• Strategic Developments: The company has released several AI models, some under an open source license, and others as proprietary, API-first products.

• Growing Partnerships and Investor Confidence: Alongside building tech advancements, Mistral AI enjoys robust backing from a diverse group of investors and has established significant partnerships, including with Microsoft Azure.

Why It Matters:

• Impact on the AI Market: The significant funding and strategic model releases position Mistral AI to potentially disrupt the AI industry.

• Innovation and Open Source Contribution: By offering models under open source licenses, Mistral AI contributes to broader accessibility and innovation in AI technologies.

• Expansion and Strategic Positioning: With strong investor support and strategic partnerships, Mistral AI is well-positioned to expand its influence and market reach in the AI domain.

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