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Sam Altman Is Back on the OpenAI Board

Sam Altman Is Back on the OpenAI Board

Plus Elon to open source Grok

Nathaniel Whittemore
March 11, 2024

The AI Breakdown First Five - Monday March 11, 2024

Today on the First Five:

5. Thomson Reuters’ $8B AI War Chest
4. Nvidia Stock Reversal
3. Falcon AI Raises $20M for Enterprise AI
2. Elon Says Grok Will Be Open Source
1. OpenAI Announces Board Additions; Sama is Back

5. Thomson Reuters’ $8B AI War Chest

The CEO of the publishing giant has told investors that the company has “tremendous financial firepower” to spend on acquisitions and other investments in generative AI. $8 billion to be exact.

Thomson Reuters chief executive Steve Hasker says the news and information business has $8bn cash ready to make acquisitions and investments in AI and that it additionally plans on spending more than $100m a year developing its own AI tech
— Press Gazette (@pressgazette)
9:10 AM • Mar 11, 2024

4. Nvidia Stock Reversal

Apparently even mighty Nvidia can’t go up forever. Although the company began Friday trading up as much as 5%, by the end of day the stock was down almost 6%. Analysts blame investor exhaustion, with Mizuho reminding that AI stocks “cannot trade up every single day.”

Nvidia, $NVDA, the 3rd biggest company in the world, just fell 10% in 30 minutes.
That's a company with $2.3 trillion in market cap trading like a penny stock.
Is it weird that this feels completely normal now?
— The Kobeissi Letter (@KobeissiLetter)
4:38 PM • Mar 8, 2024

3. Falcon AI Raises $20M for Enterprise AI

Even as a new narrative that business leaders aren’t sure exactly how to start using AI takes hold, companies continue to build for a very AI-ified enterprise future. Adaptive, the team behind the open source Falcon LLM model, has emerged from stealth with a $20m round to help businesses train their own LLMs.

GenAI-driven personalization for the enterprise is missing its human touch. Enter: Adaptive ML.
Founded by the team behind Falcon, one of the most popular open-source LLMs, Adaptive is building key GenAI infrastructure to enable companies to perpetually improve their models.… twitter.com/i/web/status/1…
— Index Ventures (@IndexVentures)
1:38 PM • Mar 11, 2024

2. Elon Says Grok Will Be Open Source

In the wake of his lawsuit against OpenAI, claiming that they’ve abandoned their “open” mission, Elon Musk has announced that xAI’s Grok will be living up to those principles by going open source.

This week, @xai will open source Grok
— Elon Musk (@elonmusk)
8:41 AM • Mar 11, 2024

1. OpenAI Announces Board Additions; Sama is Back

Three women have been added to the board of OpenAI. They include Fidji Simo, the CEO of Instacart; Nicole Seligman, former GC at Sony; and Sue Desmond-Hellmann, former CEO of the Gates Foundation. Additionally, Sam Altman is back on the board, with a board committee saying “The special committee recommended and the full board expressed their full confidence in Mr. Altman and Mr. Brockman.”

Great board for a SaaS company, but tasked with AGI & how to mitigate it ending democracy, capitalism, humanity?
Meh
Enough, going to do for real, but make it distributed not SV, collective not collected
For the people by the people
#decentralizeAI
— Emad acc/acc (@EMostaque)
11:41 PM • Mar 8, 2024

Bonus: Inconceivable!

we are but poor lost circus performers
— KandrejArpathy (@untitled01ipynb)
8:20 AM • Mar 10, 2024

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