AI Startup’s $1 Billion Seed Round 9/5/24

TechCheck

CNBC

Disruptors, Investing, Faang, Technology, Business, Management, Cnbc, Tech

4.8 • 56 Ratings

🗓️ 5 September 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Valuations for AI startups are continuing to skyrocket. This time, OpenAI co-founder Ilya Sutskever raising a whopping $1 billion as a seed round for his AI startup Safe Superintelligence Inc, with just around 10 employees and nowhere close to having a product. It's the epitome of a growing trend of a breakneck gen AI race for top talent.

Transcript

Click on a timestamp to play from that location

0:00.0	Another eye-popping valuation for a brand-new AI startup, this time it's Open AI's former chief scientist
0:06.7	raising a whopping billion dollars for his own company, Safe Super Intelligence Inc.
0:12.2	But are these AI startups soaring too close to the sun?
0:15.0	Our dear Bosa is taking a look at that in today's tech check.
0:17.5	Hey D.
0:18.4	Hey, good morning, Carl.
0:19.2	So in Gen AI, it's a race for talent among VCs and mega caps alike.
0:24.0	Scooping up the most influential technical minds in the space,
0:27.0	that matters more than having revenue or even a product.
0:30.0	Ilia Setzkever, now building his own venture with SSI is seen as one of the most prestigious and sought after
0:36.7	talents in the space.
0:37.7	He co-founded Open AI with Sam Altman, then broke off a few months ago over safety concerns now his billion dollar seed I
0:45.9	reiterate seed round is the epitome of this trend not even in the Zerp era soft
0:51.1	bank Tiger Global Days
0:52.6	where tech startups able to raise this much cash
0:55.6	at the earliest stage of their lives
0:57.6	with a product that could still be a few years away
1:00.4	and just 10 employees,
1:02.2	as is the case with SSI. I was talking to a VC yesterday
1:05.9	who called it the era of the business founders versus the white paper founders. The
1:10.9	former like Sam Altman they have roots in entrepreneurship and
1:14.4	venture capital. White paper founders like Sutzgiver are technical, renowned AI
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from CNBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of CNBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.