OpenAI was valued at $29bn last year, but that rose to $80bn early in 2024. The rise in its value coincided with annual revenue exceeding $2bn for the first time, a landmark which came earlier this year. Before that, the launch of the ChatGPT chatbot at the end of 2022 helped put the company into…
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According to media reports, the competition watchdog wants to determine if the partnership resulted in a “relevant merger situation” and if this would cause “substantial lessening of competition”. The CMA indicated that it invited comments from interested parties before launching its investigation. According to CNBC, a spokesperson for Anthropic said that the company will cooperate…
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Nagasaki will steer the ChatGPT maker’s commercial and marketing efforts and grow the company’s Global Affairs, Go-to-Market, Communications and Operations in Japan. OpenAI published the statement on Sunday, 14 April 2024 and wrote: As we grow our operations internationally, we’re expanding into Asia with a new office in Tokyo, Japan. The organisation indicated that this…
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In a blog post on its website, the AI enterprise responded, saying that Musk, as one of its co-founders, supported a for-profit structure and even suggested a merger with Tesla, Inc. (TSLA). Musk alleges that OpenAI’s focus is on generating profits for its partners and major investor, Microsoft Corporation (MSFT). Musk claims that when he…
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The push to this financial pinnacle is driven by the interaction of Artificial Intelligence (AI) and Generative AI, which has received added momentum due to OpenAI's ChatGPT launch. Fintech steers the way in building tailor-made tools to ensure transaction security, availability, and ease of use for consumers and traders. This development is not only about…
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In terms of the agreement, OpenAI employees could cash out their shares. By doing this, the company can raise funds without following traditional funding routes. To date, OpenAI has yet to give a response. The company did the same in 2023 when Thrive Capital, Sequoia Capital, Andreessen Horowitz and K2 Global bought OpenAI shares through…
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For some time now, Altman has highlighted the AI-chip supply gap in the face of overwhelming global demand. He claims that the lack of these semiconductors fetters OpenAI’s growth and a scheme should be launched to escalate global manufacturing and supply volumes. Altman took to X and posted: we believe the world needs more ai…
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Following the temporary ban on processing imposed on OpenAI by the Italian DPA on 30 March 2023, and based on the outcome of its fact-finding activity, the Italian DPA concluded that the available evidence pointed to the existence of breaches of the provisions contained in the EU GDPR. The machine-learning startup grabbed the November 2023 headlines when…
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The innovators of ChatGPT responded by headhunting and hiring Emmett Shear, the former head of the Twitch streaming site. This debacle led to 700 employees putting their names to paper, threatening to leave the company and join Microsoft (MSFT.O) if Altman was not reinstated. The newly appointed interim CEO Mira Murati took to X (formerly…
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Murati has been part of the OpenAI leadership team for five years. In its press release, the company stated: Mira has played a critical role in OpenAI’s evolution into a global AI leader. She brings a unique skill set, understanding of the company’s values, operations, and business, and already leads the company’s research, product, and…
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