Thu. 10/03 – The Monster OpenAI Raise

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Amalgamated Internets, LLC

Tech News, News, Technology

4.7 • 1K Ratings

🗓️ 3 October 2024

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

OpenAI raised their round, and it basically broke all the records. The whole Wordpress mess has gotten so crazy that WPEngine is suing. Using Ray-Ban Meta Smart Glasses to dox people in real time. And you’ll never guess the reason why you’re about to see more ads on streaming video. Hint: you’ll endure it. Sponsors: Lumen.me/ride Links: OpenAI raises $6.6 billion in largest VC round ever (Axios) OpenAI asks investors not to back rival start-ups such as Elon Musk’s xAI (Financial Times) OpenAI feels competitors breathing down its neck (Financial Times) WP Engine sues WordPress co-creator Mullenweg and Automattic, alleging abuse of power (TechCrunch) Someone Put Facial Recognition Tech onto Meta's Smart Glasses to Instantly Dox Strangers (404Media) Spotify adds a new, automatically updating playlist for offline listening (TechCrunch) Amazon to increase number of advertisements on Prime Video (Financial Times) Venture Dealmaking Reflects Selective Tastes of Investors (Bloomberg) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Tech Mem Right Home for Thursday, October 3rd,
0:06.8	2024. I'm Brian McCullough today.
0:08.8	Open AI raised their round and it basically broke all the records. The whole WordPress mess has gotten so crazy
0:14.6	that W.P. Engine is suing. Using Ray-Ban Meta smart glasses to docks people in
0:20.5	real time and you'll never guess the reason why you're about to see more
0:23.6	ads on streaming video. Hint you'll likely endure it. Here's what you miss today in the
0:28.3	world of tech.
0:31.3	Well they did it y'all. Open AI raised 6.6 billion dollars led by Thrive Capital
0:38.6	valuing the company at a hundred and fifty seven billion dollars with
0:41.5	participation from Microsoft,
0:43.4	NVIDIA, Soft Bank, and others.
0:45.6	They also got a $4 billion revolving line of credit
0:48.5	from J.P. Morgan Chase, City, and others.
0:51.4	That would bring its total liquidity at this point to more than
0:54.4	ten billion dollars. This is the largest VC deal of all time. This also makes
0:59.4	open AI the third most valuable VC backed company company after Bight Dance and SpaceX, and Open AI is now worth
1:05.8	far more than any VC-backed startup at the time of its IPO.
1:10.4	Enough superlatives for you, quoting Axios.
1:13.8	Open AI is planning to shift to a for-profit structure and investors can ask for their money
1:18.2	back if it hasn't completed those changes in two years, Axios has learned. The new funding will allow us to double down on our
1:24.8	leadership in frontier AI research, increase compute capacity, and continue building tools
1:30.0	that help people solve hard problems, Open AI said in a blog post, end quote.
	...

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