AI Edition - It's AI Time - 169 [01-10-2024]

 AI Edition - It's AI Time - 169

OpenAI Reportedly Slated for $500 Million SoftBank Investment

SoftBank plans to invest $500 million in OpenAI's funding round, boosting its valuation to potentially $150 billion. Microsoft is also participating in the round, which reflects OpenAI's 1,700% revenue growth despite a projected $5 billion in losses.

OpenAI Is Growing Fast and Burning Through Piles of Money

OpenAI's recent financial documents reveal $300 million in monthly revenue, a 1,700% increase since early 2023, with annual sales projected to reach $3.7 billion. Despite this growth, the company expects to lose approximately $5 billion this year due to high operational costs. OpenAI is seeking $7 billion in a new funding round, which will value the company at $150 billion.

Altman reportedly trying to sell Biden on a slew of AI DCs

OpenAI CEO Sam Altman is urging the Biden administration to build AI data centers consuming up to five gigawatts of power to maintain US technological leadership over China. The plan details constructing multiple data centers in the US. Other tech giants, like Microsoft and Amazon, are also securing nuclear power agreements to support their AI operations.

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