🤖 OpenAI Is Officially Worth $157 Billion?!

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In today’s AI Report:

• 💥OpenAI DevDay 2024: Four Major Announcements

• 💦Liquid AI Replaces Traditional Transformer Architecture

• 🤯OpenAI Is Officially Worth $157 Billion?!

• 🛠Trending Tools

• 💰Funding Frontlines

• 💼Who’s Hiring?

Read Time: 3 minutes

🗞RECENT NEWS

OPENAI

💥OpenAI DevDay 2024: Four Major Announcements

At OpenAI DevDay 2024, the company made four major announcements to make AI models more accessible, efficient, and cost-effective for developers.

Key Details:

• An Application Programming Interface (API) allows multiple software applications to share data, features, and functionality back and forth rapidly.

• APIs enable developers to add AI features to their applications without having to build AI algorithms from scratch.

• Fine-tuning is taking a pre-trained AI model and adjusting it to fit your data better.

• Here’s a concise breakdown of the four major announcements:

  1. Realtime API: Developers can build speech-to-speech applications using the same AI model that powers ChatGPT’s Advanced Voice Mode.

  2. Vision Fine-Tuning: Developers can fine-tune GPT-4o (“o” for “omni”) with text and images to improve vision capabilities.

  3. Prompt Caching: Prompts often contain repetitive content. OpenAI routes similar prompts to servers that already processed similar requests to reduce costs by 50%.

  4. Distillation: Developers can leverage the outputs of a large AI model to fine-tune a smaller AI model, enabling it to achieve similar performance on a specific task.

🩺 PULSE CHECK

LIQUID AI

💦Liquid AI Replaces Traditional Transformer Architecture

Liquid AI, a company building general-purpose AI systems, introduced a new series of AI models called Liquid Foundation Models (LMFs) to challenge the traditional Transformer Architecture.

Key Details:

• Current AI models use Natural Language Processing (NLP) to understand, interpret, and manipulate human language.

• Before the traditional Transformer Architecture, NLP processed text sequentially (i.e., “word-by-word”), which failed to capture contextual relationships between words.

• The traditional Transformer Architecture enabled NLP to weigh the importance of different words relative to each other in a sentence.

• LMFs are general-purpose AI models built on large Neural Networks (NNs) deeply rooted in numerical linear algebra rather than the traditional Transformer Architecture.

• LMFs surpass AI models that use traditional Transformer Architectures, such as Meta’s Llama 3.2 and Microsoft’s Phi-3.5, on the Massive Multitask Language Understanding (MMLU) benchmark, which covers 16,000 questions from 57 academic disciplines.

Why It’s Important:

• LMFs achieve State-Of-The-Art (SOTA) performance at every scale while maintaining a smaller memory footprint with a more efficient AI inference (i.e., using AI models to analyze data and make predictions).

• The traditional Transformer Architecture has dominated the AI industry since 2017. Liquid AI is challenging the status quo by proposing a new framework that relies on less computing power.

OPENAI

🤯OpenAI Is Officially Worth $157 Billion?!

OpenAI officially raised $6.6 billion from investors, valuing the company at $157 billion. The investors include Thrive Capital, Khosla Ventures, SoftBank, Microsoft, and Nvidia.

Thrive Capital, an investment firm that builds and invests in internet, software, and technology-enabled companies, led the round with a $1 billion commitment.

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

OpenAI reportedly asked the investors to avoid supporting rivals like Ilya Sutskever’s Safe Superintelligence Inc. (SSI Inc.) and Elon Musk’s xAI.

Sutskever was OpenAI’s Chief Scientist and Superalignment Team Co-Leader until 2023. Musk was one of OpenAI’s Co-Founders who initially pledged $1 billion to the “non-profit research initiative.”

OpenAI anticipates a significant revenue increase of $11.6 billion by 2025 through raising ChatGPT Plus prices. The company generated over $300 million in revenue last month, up 1,700% since the beginning of last year.

This historic funding round underscores the hype in Silicon Valley surrounding AI. The AI revolution is accelerating, and OpenAI appears to be at the forefront!

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🔮Browse our always Up-To-Date AI Tools Database.

💰FUNDING FRONTLINES

• HPC-AI closes a $50M Series A to accelerate the power of intelligence.

• Poolside raises a $500M Series B to build AI applications for software engineers.

• Numa secures a $32M Series B to bring AI models and automation systems to car dealerships.

💼WHO’S HIRING?

• SeatGeek (New York City, NY): Data Analyst Intern, Summer 2025

• WorldCoin (San Francisco, CA): Software Engineering Intern, Summer 2025

• Splunk (Boulder, CO): Software Engineering Intern, Backend/Full-Stack, Summer 2025

• NVIDIA (Santa Clara, CA): High-Performance Large Language Model {LLM} Training Engineer, New College Grad 2024

• IBM (San Jose, CA): Entry Level Back End Developer, New College Grad 2025

🤖PROMPT OF THE DAY

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📒FINAL NOTE

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