To date, OpenAI has raised $13 billion from Microsoft Corp. The company is also set to secure a tender offer in early January that would enable employees to sell their shares in the company at a combined value of $86 billion in a process led by Thrive Capital. Open AI has also held discussions with Abu Dhabi-based G42 to establish a new chip venture “to deliver cutting-edge AI solutions to the UAE and regional markets,” as explained during the announcement of the venture in October.

OpenAI’s increasing fundraising and business transactions come amid an AI frenzy, with Amazon.com Inc. and Google parent company Alphabet Inc. both investing billions into OpenAI-rival Anthropic. Salesforce has also entered into the AI race, investing $4.5 billion in Hugging Face.

The post OpenAI Looking to Raise Funding at Valuation of Over $100 Billion appeared first on theprimarymarket.com.

In response to Altman’s dismissal, several OpenAI employees threatened to resign from the company. While the board met their demand to allow the former CEO to return, they missed the 5 p.m. deadline set by the workers. Greg Brockman, OpenAI’s president and former board chairman, resigned after Altman’s dismissal, as did several senior researchers, with reports emerging of further resignations in the works.

Following Altman’s dismissal, Microsoft, OpenAI’s largest investor, affirmed its commitment to the ChatGPT maker, however, investors were caught off guard by the decision given that no prior warning was given nor any opportunity to weigh in on the issue.

The post OpenAI in Discussions to Restore Sam Altman as CEO appeared first on theprimarymarket.com.

Masayoshi Son, founder and chief executive, is reportedly ready to invest tens of millions of dollars into AI according to two sources familiar with the matter. This could include entering into a strategic partnership with ChatGPT maker OpenAI, the Financial Times claimed on Saturday. Son, a frequent user of the ChatGPT AI-powered chatbot, has revealed that he speaks “almost every day” to OpenAI CEO Sam Altman.

Aside from Open AI, SoftBank is exploring a range of options for entering into the AI realm, including the purchase of Graphcore, a UK-based AI chipmaker. This is the first time that the company is actively looking to expand after being in “defense mode” since May 2022 when tech valuations crashed as higher interest rates hit the global banking sector.

The post SoftBank Looking for More AI Deals Following Arm IPO appeared first on theprimarymarket.com.

The ministers agreed that while a democratic approach should be used to ensure that the technology is given room to be developed, policy instruments need to be implemented in order to ensure that AI technologies are developed in a trustworthy and ethically responsible manner.

“The conclusions of this G7 meeting show that we are definitely not alone in this,” European Commission Executive Vice President Margrethe Vestager stated following the gathering. “We plan to convene future G7 discussions on generative AI which could include topics such as governance, how to safeguard intellectual property rights including copyright, promote transparency, address disinformation.”

The post G7 Should Adopt “Risk-Based” AI Regulation, Ministers Suggest appeared first on theprimarymarket.com.

To date, OpenAI has raised $13 billion from Microsoft Corp. The company is also set to secure a tender offer in early January that would enable employees to sell their shares in the company at a combined value of $86 billion in a process led by Thrive Capital. Open AI has also held discussions with Abu Dhabi-based G42 to establish a new chip venture “to deliver cutting-edge AI solutions to the UAE and regional markets,” as explained during the announcement of the venture in October.

OpenAI’s increasing fundraising and business transactions come amid an AI frenzy, with Amazon.com Inc. and Google parent company Alphabet Inc. both investing billions into OpenAI-rival Anthropic. Salesforce has also entered into the AI race, investing $4.5 billion in Hugging Face.

The post OpenAI Looking to Raise Funding at Valuation of Over $100 Billion appeared first on theprimarymarket.com.

In response to Altman’s dismissal, several OpenAI employees threatened to resign from the company. While the board met their demand to allow the former CEO to return, they missed the 5 p.m. deadline set by the workers. Greg Brockman, OpenAI’s president and former board chairman, resigned after Altman’s dismissal, as did several senior researchers, with reports emerging of further resignations in the works.

Following Altman’s dismissal, Microsoft, OpenAI’s largest investor, affirmed its commitment to the ChatGPT maker, however, investors were caught off guard by the decision given that no prior warning was given nor any opportunity to weigh in on the issue.

The post OpenAI in Discussions to Restore Sam Altman as CEO appeared first on theprimarymarket.com.

Masayoshi Son, founder and chief executive, is reportedly ready to invest tens of millions of dollars into AI according to two sources familiar with the matter. This could include entering into a strategic partnership with ChatGPT maker OpenAI, the Financial Times claimed on Saturday. Son, a frequent user of the ChatGPT AI-powered chatbot, has revealed that he speaks “almost every day” to OpenAI CEO Sam Altman.

Aside from Open AI, SoftBank is exploring a range of options for entering into the AI realm, including the purchase of Graphcore, a UK-based AI chipmaker. This is the first time that the company is actively looking to expand after being in “defense mode” since May 2022 when tech valuations crashed as higher interest rates hit the global banking sector.

The post SoftBank Looking for More AI Deals Following Arm IPO appeared first on theprimarymarket.com.

The ministers agreed that while a democratic approach should be used to ensure that the technology is given room to be developed, policy instruments need to be implemented in order to ensure that AI technologies are developed in a trustworthy and ethically responsible manner.

“The conclusions of this G7 meeting show that we are definitely not alone in this,” European Commission Executive Vice President Margrethe Vestager stated following the gathering. “We plan to convene future G7 discussions on generative AI which could include topics such as governance, how to safeguard intellectual property rights including copyright, promote transparency, address disinformation.”

The post G7 Should Adopt “Risk-Based” AI Regulation, Ministers Suggest appeared first on theprimarymarket.com.