Plus: 💰 OpenAI is valued at $90B, what does it mean? 1% of companies control 80% of data, why is this important?  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

	Forwarded this email? Subscribe here for more 📱 Will we have an AI Cell phone soon? Plus: 💰 OpenAI is valued at $90B, what does it mean? 1% of companies control 80% of data, why is this important? Yaro Celis Sep 27   READ IN APP   🫶 Advertise - Jobs - LinkedIn 🫶 Greetings everyone, OpenAI is valued at $90B and the company has some very ambitious plans to grow and diversify, we will share what they are. We delve into how 80% of the world’s data is controlled by 1% of tech companies and, will we have an AI cell phone device soon? This is what’s on the menu today: Will OpenAI, Jony Ive, and Softbank Join Forces? OpenAI at $90 Billion Valuation Just 1% of Companies Control 80% of Global Da 🧰 AI Tools of the Day (News Tools) 💰 Follow the Money 📰 Publications I am currently reading and recommending It has become appallingly obvious that our technology has exceeded our humanity. - Einstein 💪🏽 Important AI News and Trends. OpenAI is reportedly raising funds at a valuation of $80B - $90B (TC) Youtube x AI: A marriage we were waiting to see (TC) AI’s $200B Question: GPU capacity is getting overbuilt. Long-term, this is good. Short-term, things could get messy. (Sequoia) OpenAI’s GPT-4 with vision still has flaws, paper reveals (TC) The largest AI developers are hiring poets (RestOfTheWorld) CIA Builds Its Own AI Tool, Big Brother Gets Superpowers (Bloomberg) 🌐 Web3 and Tech news. Investors who bought up to $800 million in Northern CA real estate reveal unexpected plans for a city of yesterday (BusinessInsider) SAG-AFTRA Members Vote Overwhelmingly To Authorize Strike Against Video Game Industry, 2nd strike coming soon. (Deadline) US government and 17 states sue Amazon in monopoly case (CNN) WHOOP has partnered with OpenAI to launch a health and Trainer AI app. (X) Tubi is using ChatGPT to give you better movie recommendations (TheVerge) Subscribe today and get 60%OFF: Get 60% off for 1 year Will OpenAI, Jony Ive, and Softbank Join Forces? Jony Ive, the renowned designer of the iPhone, and OpenAI CEO Sam Altman have been discussing building a new AI hardware device. In a who’s who of tech, SoftBank CEO and investor Masayoshi Son has also talked to both Ive and Altman about the idea, but it’s unclear if he’ll remain involved moving forward. The device could feature an AI-native operating system, breaking OpenAI's reliance on Apple and Android platforms and adding a new revenue stream. This move could diversify OpenAI's revenue streams and reduce its dependence on Apple and Android platforms. However, OpenAI faces challenges such as the rising cost of AI, highlighted by Microsoft's $10 billion investment in the company and its search for cheaper AI alternatives. The commoditization of large language models (LLMs) poses another risk, especially as OpenAI is currently valued at up to $90 billion. The rise of specialized, open-source models could further threaten OpenAI's market position. This development could significantly impact the tech industry, from user experience to the long-term valuation of AI companies. Free Private Equity Course Paid more to work less: The private equity dream Have you heard of the promised land of private equity that pays fresh professionals over $300k? Where you can work less and get paid more than investment bankers? 🚪 So how do you break into private equity?... Well, you can take the best recruiting course out there: Private Equity Course by the Overheard on Wall Street team. While this top-tier course is usually priced at $1,500, they're currently extending a special offer.  You get FREE ACCESS to the course when you sign up for a no-commitment, free month of Short Squeez Insiders. 🥜 In a nutshell, you are getting a course for free and a chance to try out a membership that gives you an in-depth look/insights on the most compelling investment ideas & news. (Sponsored) Get your free Private Equity course today. OpenAI at $90 Billion Valuation OpenAI is seeking an astronomical new valuation of up to $90 billion by selling existing shares, nearly triple its valuation from earlier this year. This comes on the heels of ChatGPT mania, with OpenAI projecting $1 billion in revenue for 2022, explaining its meteoric rise. The deal would allow employees to cash out while letting Microsoft reap massive profits on its initial $10 billion investment in OpenAI. With big tech competitors racing to catch up, OpenAI aims to maintain its advantage by raising more capital soon. However, keeping Microsoft’s ownership under 50% shows OpenAI’s intent to remain independent despite its reliance on Microsoft’s deep pockets. This deal cements OpenAI’s pole position atop the white-hot AI market, for now. But with hungry competitors circling, OpenAI will need even more breakthroughs to justify its towering new valuation. Leave a comment Just 1% of Companies Control 80% of Global Data. The book "Atlas of AI" by Kate Crawford explores the complex world of AI, delving into its societal, economic, and ethical implications. Rather than a neutral technology, AI is inexorably bound to political and commercial agendas, according to the book. With just 1% of companies hoarding 80% of the world's data, stark inequalities exist around access to the fuel that powers AI - data. These data monopolies allow tech behemoths like Google, Facebook, and Amazon to harness vast amounts of information to train ever-more capable AI models, further entrenching their dominance. This raises pressing questions about the consolidation of power in AI development. Do AI startups stand a chance against such formidable data monopolies? These large tech corporations also have the deepest pockets to acquire any startup that becomes a threat or that can help them achieve their goals. Apple has been quiet about its AI developments, but they have been on a buying spree. Refer a friend 🧰 AI Tools of the Day News. FinChat - Chat with your financial news and company financial statements. UnreadAI - AI Digest for news, social, and email. Spin Reactor - Takes news from all kinds of sources and synthesizes them into a clean, easy-to-read format. Stock News - Best stock news from 100+ sources. Picked by AI. We have added over 100 tools to our AI tools database. Get 250+ Tools free here. Thank you for reading Yaro on Ai and Tech Trends. This post is public so feel free to share it. Share 💰 Follow the Money $15M - raised by Kolena, a startup building tools to test, benchmark, and validate the performance of AI models. $9.5M - Senser, which uses ML to help developers and operations teams understand the cause of outages and service degradation. $9M - UserEvidence, an AI startup that can turn survey feedback into proof points. $6M - Digma raised, a startup that evaluates developers’ code. $5.4M - raised by Machine Discovery, a startup that uses ML to accelerate compute-intensive optimization and simulation tasks. $3.9M - by Meeno, a startup developing an AI-powered personal relationship mentor. $2.5M - raised by PartyKit, an open-source to deploy AI agents, apps, games, and websites. 📰 Publications I am currently reading and recommending: John Bejakovic’s - Email about influence, marketing, and copywriting. The Average Joe - Become a better investor in just 5 minutes. The MoneyFitt Morning - Daily heads-up on investing & business. 🚀 Showcase Your Innovation in the Premier Tech and AI Newsletter (link) As a vanguard in the realm of technology and artificial intelligence, we pride ourselves in delivering cutting-edge insights, AI tools, and in-depth coverage of emerging technologies to over 55,000+ tech CEOs, managers, programmers, entrepreneurs, and enthusiasts. Our readers represent the brightest minds from industry giants such as Tesla, OpenAI, Samsung, IBM, NVIDIA, and countless others. Reserve a Spot Explore sponsorship possibilities and elevate your brand's presence in the world of tech and AI. Learn more about partnering with us. You’re a free subscriber to Yaro’s Newsletter. For the full experience, become a paying subscriber. Subscribe for $1/Month Disclaimer: We do not give financial advice. Everything we share is the result of our research and our opinions. Please do your own research and make conscious decisions.   Like Comment Restack   © 2023 Yaro Celis 548 Market Street PMB 72296, San Francisco, CA 94104 Unsubscribe