💰 OpenAI valued at $80B after new deal

... and joining forces with Google and Meta

Gijs Ooijen
February 19, 2024

👋 Good morning! Glad you opened the folder this morning. Let’s unpack.

Here’s what we have for you today:

OpenAI is now valued at over $80 billion after a deal where its employees can sell their shares.

What you should know:

Last year, OpenAI was valued at about $29 billion in a similar deal.
The company's CEO, Sam Altman, is planning to develop new AI chips and has been seeking funds for this project.
Microsoft will have a non-voting observer role on OpenAI's board.
Altman's chip project, potentially costing $5 to $7 trillion, hopes to speed up AI development and address AI chip shortages.

Why it matters: OpenAI is currently the largest player in the AI field, which means it sets trends and expectations for the entire market.

✉️ Unspam gives insights into how well your emails are opened.

🧠 Repeto helps you learn anything faster through AI.

🙂 Emojifyer does exactly what the name says.

Air Canada lost a court case and had to refund a customer after their AI chatbot gave wrong information about bereavement airfare.

What you should know:

The customer, Jake Moffatt, was told he could get a refund, but this was against Air Canada's actual policy.
Air Canada tried to argue in court that they weren't responsible for the chatbot's mistake.
The court disagreed and said Air Canada must refund the customer.

Why it matters: This shows companies are free to use AI to enhance operations, but are certainly held accountable when they do so wrongly.

🤝 Google, Meta, and OpenAI join forces.

🛸 UK looks to arm Ukraine with AI drones.

📃 Reddit reportedly signs off content to train AI models.

... be honest 😜

🫡 That’s it for today. See you tomorrow!