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xAI's $40B Valuation, Oracle’s New EHR, and Linus Torvalds’ Bold Take
Stefan
October 31, 2024
Hi there,
Another edition of the Daily AI Brief is ready for you! Today we discuss big moves from xAI, Oracle, and OpenAI, along with a closer look at GitHub’s new tool and how AI might impact everything from nuclear decisions to image generation.
Let's dive into these stories right away:
During the Open Source Summit in Vienna, Linus Torvalds expressed that most AI technology today is “90 percent marketing.” While recognizing generative AI’s potential, he criticized the hype and suggested AI will enhance daily workloads in five years. Torvalds also shared his views on open-source development and programming languages. Read more
Elon Musk’s xAI is targeting a $40 billion valuation in its latest funding round. Known for developing Grok-1, xAI’s answer to ChatGPT, the company aims to double its computing power with a new data center. This funding push positions xAI as a competitor to OpenAI. Read more
Amid the AI surge, British chip designer Arm has tripled its share value, surpassing Intel in market cap. Now exploring its own AI chips, Arm’s technology is becoming a staple in data centers, challenging Nvidia’s dominance. Read more
GitHub introduced Spark, an experimental tool that lets users build web apps using natural language. Developed by GitHub Next labs, Spark allows users to create apps via a chat interface with live previews. Users can choose between Anthropic’s Claude Sonnet or OpenAI’s GPT models for language processing. Read more
Air Force General Anthony Cotton announced that AI will enhance decision-making for the US nuclear arsenal, although humans will retain control. The US military’s $1.7 trillion nuclear upgrade will incorporate AI to assist with information analysis and strategic decisions. Read more
Spotlight: Interface.aiInterface.ai provides AI solutions for banks and credit unions, focusing on enhancing customer service and operational efficiency. They specialize in generative AI solutions for call center automation, aiming to increase revenue, improve customer experience, and boost employee productivity. Their AI is designed to integrate seamlessly with existing banking systems, providing personalized and secure services. Read more |  This section is not a paid advertisement. |
Softbank CEO Masayoshi Son believes Nvidia stock is undervalued, predicting AI spending could boost Nvidia’s business. With $9 trillion estimated for superintelligence development, Son sees substantial returns for Nvidia. Read more
Oracle launched an AI-powered electronic health record (EHR), its biggest update since acquiring Cerner. This move aims to strengthen Oracle’s position in the EHR market, particularly as Epic Systems gains market share. Read more
A new image generation model, “red_panda,” is outperforming popular models like Midjourney and OpenAI’s DALL-E 3. The model is fast and highly ranked, though its origins are unclear. Read more
OpenAI is exploring new services for its 250 million ChatGPT users, with 5-6% of free users converting to paid plans. The company is also considering ad-based models as an alternative revenue source. Read more
Sound Ventures has invested in World Labs, founded by Fei-Fei Li. The startup, valued at over $1 billion, focuses on “large world models” for media and entertainment. Read more
The European Union plans to invest $1.5 billion in deep tech in 2025, aiming to improve competitiveness in AI against the US and China. This funding will be managed by the European Innovation Council. Read more
Salesforce has made its Agentforce chatbot platform generally available, allowing companies to deploy customizable bots without coding. OpenTable, Saks, and Wiley are already using the platform. Read more
Margaret Atwood critiques AI-generated poetry as lacking originality, noting AI’s reliance on data scraping. She expressed concerns about AI's impact on young visual artists and questioned its abilities in fiction. Read more
Meta has unveiled NotebookLlama, an open-source AI podcast generator. Unlike Google’s NotebookLM, Meta’s tool is open-source and user-friendly, though the audio quality is currently less natural. Read more
In partnership with Broadcom, OpenAI is working on its first custom AI chip to reduce reliance on Nvidia. Expected by 2026, the chip aims to boost AI performance. Read more
The Open Source Initiative (OSI) has introduced the Open Source AI Definition (OSAID), outlining essential freedoms for open-source AI. Endorsed by EleutherAI, the framework promotes transparency in AI. Read more
Crusoe Energy raised $500 million, led by Founders Fund. The company focuses on AI-driven data centers and aims to meet growing demand for AI computing power with new facilities in Texas. Read more
Google’s CEO announced that over 25% of its new code is AI-generated, supported by a proprietary model named “Goose.” This initiative boosts productivity by automating coding tasks. Read more
Costa Rica has become the first country to use AI to design its Nation Brand. The strategy emphasizes climate action and positions Costa Rica as a leader in sustainability. Read more
Character.AI faces scrutiny for hosting suicide-themed chatbots. Despite claims of improved safety, many bots continue to engage in harmful discussions, raising questions about moderation. Read more
Google’s AI Overviews feature, providing search answers at the top of listings, is now available in over 100 countries. The tool supports multiple languages, with recent additions aimed at improving accuracy. Read more
Elon Musk invited users to test xAI’s Grok with medical images, though initial feedback highlights its limited diagnostic accuracy. Radiologists reported mixed results with the tool. Read more
The Tarbell Grants offer up to $15,000 for journalists to report on AI-related topics, aiming to support original research on AI’s societal impacts. Applications are open worldwide. Read more
That's it for today. If you liked this edition of the Daily AI Brief, please consider sharing it with friends and coworkers!
Cheers,
Stefan