OpenAI Targets $100 Billion

PLUS: New AI Bill Proposed, Infosys lost $1.5 Billion

December 24, 2023

Dear industry leader, here’s your 3-minute recap (without the fluff):

  • OpenAI in funding talks at a potential $100 billion valuation

  • AI transparency bill proposed: mandatory disclosure of copyrighted training data

  • Infosys lost $1.5 billion AI contract

  • New tools, funding updates & job postings

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🛠️ Tools

Tangle - Break free from echo chambers and gain a deeper understanding of politics with Tangle. Subscribe today! (link)

Never AI - An AI image generator app that creates realistic images in a few clicks (link)

Waymark - Helps to create compelling video ads and commercial-spec spots in minutes (link)

YouAgent - AI search agent able to run code to answer your STEM questions more reliably (link)

📚 Resources

The 8 largest US funding rounds of November 2023 (link)

Navigating AI in business: Insights and strategies for 2024 (link)

Meta’s CTO on how the generative AI craze has spurred the company to ‘change it up’ (link)

How can data science and AI help HR in workforce development, evaluation, and retention? (link)

From AI and inflation to Elon Musk and Taylor Swift, the business stories that dominated 2023 (link)

PS. You can still get The Ultimate ChatGPT Toolkit (no email opt-in).

🗞️ News 

OpenAI’s $100 billion valuation

OpenAI is in preliminary discussions to raise fresh funding at a valuation of $100 billion or more. The terms, timing and amount of funding have not been finalized. OpenAI has also discussed raising $8-10 billion for a new chip venture with Abu Dhabi-based company G42, but it's unclear if this is related to the wider funding.

OpenAI is set to complete a $300 million share sale led by Thrive Capital in January, valuing the company at $86 billion.

AI companies need to disclose copyrighted data

The AI Foundation Model Transparency Act is a proposed bill that would require AI companies to disclose sources of training data, especially copyrighted material, and provide more transparency about their models.

It aims to address lawsuits alleging copyright infringement and ensure users have accurate information. The bill needs further review in committees before it can become law.

Infosys lost $1.5 billion contract

Infosys announced that the undisclosed global company, which had previously signed a $1.5 billion deal focused on AI solutions has now decided to terminate the Memorandum of Understanding and no direct reason is given.

The contract was intended to last 15 years and provide digital experiences using Infosys' AI platforms.

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💰 Funding

Vestwell raises $125M to help businesses power workplace savings programs (link)

Bubty secures $1.9M Seed funding for better freelance recruitment and management (link)

💼 Job Board

Director of Sales Engineering at OctoML (Remote)

Senior Sales Engineer at OctoML (Remote)

🤖 Prompt Tutorial

Leadership in Tough Times

Act as CEO and founder for [company/business], Draft 10 different ways you might announce a decision regarding potential layoffs

Business = [Insert here]

That’s all.

Stay curious, leaders!

- Mr. Prompts

PS. If you missed yesterday’s issue, you can find it here.

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