🤖 Investors Pressure OpenAI to Raise ChatGPT Plus Prices

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In today’s AI Report:

• 💵Investors Pressure OpenAI to Raise ChatGPT Plus Prices

• 🐻What’s Illegal Under California’s 18 New AI Laws?

• 🪨AI Deciphers Nazca Lines Ancient Code

• 🛠Trending Tools

• 💰Funding Frontlines

• 💼Who’s Hiring?

Read Time: 3 minutes

🗞RECENT NEWS

OPENAI

💵Investors Pressure OpenAI to Raise ChatGPT Plus Prices

OpenAI is reportedly anticipating a significant revenue increase of $11.6 billion by 2025 through raising ChatGPT Plus prices.

Key Details:

• Investors want OpenAI to increase ChatGPT Plus prices from $20 per month to $22 per month by the end of 2024. Then, gradually raise it to $44 per month by 2029.

• The aggressive move reflects pressure on OpenAI from investors to narrow the company’s losses.

• While OpenAI’s monthly revenue reached $300 million, the company expects to lose roughly $5 billion this year.

• Expenditures like staffing and computing infrastructure are to blame. ChatGPT alone costs OpenAI $700,000 daily to operate.

• While ChatGPT boasts more than 10 million Plus users today, surveys suggest Gen Z believes the current $20 per month price is too high.

Why It’s Important:

• OpenAI is in talks with investors to raise $6.5 billion at a $150 billion Pre-Money Valuation (i.e., estimated value of a company before it receives new money from investors).

• However, the deal is contingent on OpenAI removing the startup’s non-profit “capped profit” framework, which puts a ceiling on the profit investors can earn from OpenAI.

• Now, OpenAI is reportedly restructuring into a For-Profit Benefit Corporation (“B Corp.”) that will no longer be controlled by a non-profit Board of Directors (BofD).

• Here’s the thing about asking investors for money: they want to see returns!

🩺 PULSE CHECK

CALIFORNIA

🐻What’s Illegal Under California’s 18 New AI Laws?

Since September 2023, California Governor Gavin Newsom has considered 38 AI-related bills. So far, he’s signed 18 AI-related bills into law that are more comprehensive than any other state.

Key Details:

• Here’s a concise breakdown of the five most note-worthy AI-related bills:

  1. California AI Transparency Act (i.e., SB 942): Requires Large Language Models (LLMs) to disclose their training datasets and algorithms.

  2. AI in Healthcare (i.e., SB 1120): Ensures healthcare decisions involving AI models are monitored, reviewed, and validated by medical professionals like physicians.

  3. AI Training Data Transparency (i.e., AB 2013): Requires Generative AI (GenAI) developers to release their training datasets publicly.

  4. AI in Elections (i.e., AB 2655): Mandates social media platforms to remove or label AI-generated content related to elections.

  5. Defining AI (i.e., AB 2885): Defines AI as an engineered framework that can infer inputs to generate outputs, influencing environments with varying levels of autonomy.

• Newsom recently vetoed (i.e., refused to accept) “SB 1047,” which forced developers to disclose technical details about their LLMs and held AI firms liable for any “severe harm” caused by AI applications.

Why It’s Important:

• It’ll be interesting to see how Newsom’s slower, safety-focused approach that involves expansive government oversight, industry regulations, and monitoring unlawful discrimination to fuel antitrust actions impacts Silicon Valley’s AI roadmaps.

• OpenAI and Anthropic argue that “SB 1047” prematurely stifles innovation by supporting a robust regulatory regime for AI developments before the technology causes harm.

AI RESEARCH

🪨AI Deciphers Nazca Lines Ancient Code

IBM Research and Japanese Archaeologists deployed an AI model to uncover 303 Geoglyphs near Peru’s Nazca Lines, which date back to AD 200 (i.e., Anno Domini, which is Latin for “In the Year of the Lord.”)

Geoglyphs are designs created by manipulating surface stones. They often represent plants, animals, or geometric shapes.

Peru’s Nazca Lines are a group of Geoglyphs made in the soil of the Nazca desert in southern Peru.

The team trained an AI model with high-resolution imagery of the 430 Nazca Geoglyphs discovered as of 2020. Using low-flying drones, the AI model suggested more than 47,000 potential sites.

Then, the team screened, ranked, and labeled those suggestions, identifying 1,309 potential sites. For every 37 suggestions made by the AI model, the team identified “one promising candidate.”

The AI model combined with low-flying drones dramatically accelerated the discovery process, accomplishing nearly a century’s worth of work in six months.

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💰FUNDING FRONTLINES

• Qodo secures a $40M Series A to write, test, and review code.

• Artisan raises a $11.5M Seed Round to deploy AI employees for sales teams.

• Series Inc. closes a $28M Series A to transform imaginative ideas into unforgettable gaming experiences.

💼WHO’S HIRING?

• NICE (Richardson, TX): DevOps Engineer Intern, Summer 2025

• ClickTime (San Francisco, CA): Software Development Intern, Summer 2025

• Rivian (Palo Alto, CA): Software Engineering Intern, Summer 2025

• Google (Mountain View, CA): Software Engineering Intern, Summer 2025

• NVIDIA (Santa Clara, CA): Deep Learning {DL} Architect, Large Language Model {LLM} Inference, New College Grad 2024

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