OpenAI's Mega Valuation, SpaceX Commercial Spacewalk | Bloomberg Technology
13 Sep 2024 (5 days ago)
OpenAI Funding and Development
- OpenAI is in talks to raise $6.5 billion from investors, which would increase the company's valuation to $50 billion.
- OpenAI is developing an AI model called Strawberry, which aims to perform tasks that require human-like reasoning, such as complex math and coding.
Intel's Restructuring
- Intel's board is determining the company's future direction after a recent service report and plans to cut 15,000 jobs.
- Intel is planning to reduce its workforce and discontinue less essential projects to save money and focus on its primary goals.
- The company's focus is on rightsizing by adjusting to its current order and revenue inflow.
General Motors and EV Batteries
- General Motors is in discussions to purchase EV batteries that utilize technology from China's CATL.
- A Japanese company is acting as a middleman for GM and CATL to build a battery factory in the US.
SpaceX's Polaris Mission
- SpaceX's Polaris crew, including billionaire Jared Isaacman, successfully completed the first commercial spacewalk.
- The spacewalk was deemed risky, but deemed a success after the crew spent 10 minutes each outside the capsule.
Microsoft Connectivity Issues
- Microsoft Azure and Microsoft 365 experienced connectivity issues, but Microsoft has resolved the issue with Azure and is working on restoring access to Microsoft 365.
AI in Financial Advisory
- Betterment Advisor Solutions, a platform used by millennial financial advisors, is incorporating AI to automate tasks such as paraplanning, saving advisors time and allowing them to focus on client interaction and investment solutions.
- AI is not replacing human financial advisors but is instead acting as a tool to enhance their productivity and efficiency, allowing them to better serve their clients.
Mercado Libre's 25th Anniversary
- Mercado Libre is celebrating its 25th anniversary. The company has become the largest e-commerce and fintech platform in Latin America.
- The company has a large infrastructure that enables them to deliver 75% of products within two days in Latin America.
- Mercado Libre processes payments for over $50 billion for 2 million users on their platform.
- Mercado Libre is the leading e-commerce platform in Latin America, where online retail only accounts for 15% of total retail sales, compared to approximately 20% in the U.S. and 30% in China.
China's EV Technology Restrictions
- China has requested that electric vehicle manufacturer BYD keep EV technology within its borders by domestically producing key vehicle components.
Fusion Energy Developments
- Fusion energy startup, Helion Energy, has raised $32 million in funding, achieving a valuation exceeding $200 million, with industry experts predicting that commercially viable fusion energy is still a decade or two away.
Anduril Industries and Defense Technology
- Anduril Industries is a defense technology company that produces AI-powered autonomous weapons systems, including the Barracuda system.
- Anduril Industries has a strong relationship with Taiwan and has secured a deal to provide them with defense systems.
- Anduril Industries has been sanctioned by the Chinese Communist Party, resulting in the seizure of their Chinese assets and a ban from entering the country.
Adobe's 3D Data Acquisition
- Companies need large amounts of 3D data, such as renderings of everyday objects, to train generative AI models.
- Adobe is acquiring 3D data from creators, purchasing renderings of objects like bridges and soda bottles.
- It remains unclear whether Adobe can successfully monetize its generative AI innovations, despite introducing new products and pricing tiers.