🕶️ Apple and Nvidia target OpenAI's $100B valuation

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Arturo Pardo & Paula Echeverria
August 31, 2024

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Got weekend plans? There’s a major bash happening, and OpenAI is the star of the show. Apple and Nvidia are eyeing investments that could push the AI firm’s value past $100B. Microsoft’s in on it too—everybody’s coming. 🕺

But not everyone’s buying the hype. Signal’s president thinks generative AI is just another bubble. (Safe to say she’s skipping the party.)

Meanwhile, leaked Amazon documents reveal the internal sales playbook to tackle questions on OpenAI, Microsoft, and Google’s AI products. They’ve also pinpointed the top 9 factors customers care about when picking a generative AI model. Curious?

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Six bullets of updates

  1. ⚰️ Signal president says generative AI is 'a bubble' and Nvidia's market will 'die for a second.'

  2. 🎧 Balancing hybrid work with spontaneous collaboration and personal connections is crucial for maintaining a vibrant workplace culture.

  3. 🪀 Hello, Wonder develops an AI-powered browser designed to enhance online safety for kids, leveraging advanced tech.

  4. 🦋 Transform into an AI character with Butterflies.AI's new feature, redefining social networking with AI.

  5. 🎢 Waymo targets teen riders, Uber partners with more AV firms, and Canoo loses another founder.

  6. 🇬🇧 Over a third of the UK’s fastest-growing companies have a founder born abroad.

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Apple, Nvidia join the race to invest in OpenAI

Business Today

Apple and Nvidia are reportedly in talks to invest in OpenAI, the creator of ChatGPT, in a new funding round that could value the AI firm at over $100B. This comes after reports that Thrive Capital also plans to invest around $1B in the company. Apple's interest in OpenAI aligns with its growing focus on artificial intelligence, having integrated ChatGPT into its devices earlier this year.

Microsoft, already a significant investor in OpenAI with over $10B committed, is also expected to join this funding round. The exact contributions from Apple, Microsoft, and Nvidia remain undisclosed, but their involvement highlights the escalating competition in the AI space. OpenAI's rapid rise in valuation reflects the broader industry's race to capitalize on AI technologies following the launch of ChatGPT in late 2022.

OpenAI's increasing importance is underscored by its influence on major tech companies' strategies. In February, during a tender offer led by Thrive Capital, the firm was valued at $80 billion, marking its pivotal role in the ongoing AI arms race. As companies continue to invest billions to stay competitive, OpenAI remains at the forefront of this technological surge. Read more.

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Startup Events and Deadlines

  1. Startup bootcamp | AIvolution II | August 31 | Acceleration Program, Amsterdam

  2. Brinc - Climate Technology | September 3 | Acceleration Program, San Francisco, CA

  3. Product-Led Summit | September 4 | Conference, San Francisco, CA

  4. Crash Course in Financial Modeling | September 11 | Webinar

  5. Financial modeling bootcamp for startup founders | September 16-20 | Bootcamp, Live

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These companies just raised money

  1. 🧑‍✈️ Codeium raises $150M, hitting a $1.25B valuation to take on GitHub Copilot in the AI coding.

  2. 🪄 Generative AI coding startup Magic secures a $320M investment from Eric Schmidt, Atlassian, and others.

  3. 🚜 India's Agrim raises $17.3M to streamline farmers' access to seeds and pesticides, boosting their yield.

  4. 📈 Salvadoran fintech Ábaco raises $4M in pre-seed funding to expand SME loans, with 30% monthly growth since July.

  5. 🛡️ Pryzm, a new defense tech startup, has raised $2M to help other companies win lucrative contracts.

  6. 💧Ainwater secures $537K pre-seed to boost wastewater tech in Mexico, Brazil, Colombia, and Spain!

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Amazon leak reveals nine key AI buying factors

WindowsCentral.com

Leaked information about Amazon's internal sales guidelines provides strategies for countering the hype around OpenAI and addressing customer questions about competing AI products from Microsoft and Google. The focus is on AWS's strengths in cloud infrastructure and foundational AI models rather than consumer AI chatbots. The guidelines emphasize nine key factors customers consider when purchasing generative AI models: customization, monitoring, security, cost, and innovation.

Another critical factor is the AI's responsibility. This means the model's adherence to ethical guidelines and ability to address biases, explain outputs, and incorporate safeguards against misuse.

AWS salespeople are encouraged to highlight Amazon's "Value Propositions," such as ease of use, robust security, and cost-effective infrastructure, which includes proprietary AI chips and services like Amazon Q. Despite the competitive landscape, AWS asserts its leadership in generative AI services, boasting the highest number of offerings in the cloud market and a strong customer adoption rate driving growth. Read more! 

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