Tech
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Rani Molla

China drafts auto data rules, potentially a stepping stone toward Tesla’s full self-driving in the country

For the first time, the Chinese government has released draft guidelines for how car data generated there can be “queried, retrieved, downloaded and exported,” Bloomberg reports, saying the move could “pave the way for the wider rollout of Tesla’s most advanced driver-assistance functions in the world’s largest car market.”

Since the team for its so-called full self-driving (FSD) technology is based in the US, a framework for transmitting data is necessary to progress the technology there, Bloomberg says.

Tesla, which has partnered with Baidu in China to process mapping data, rolled out some FSD tools to China earlier this year. The company faces steep competition from local rivals like BYD that already offer plenty of driver assistance features as a standard.

Of course, the term “full self-driving” is still a bit of a misnomer, since the technology currently requires human supervision. Tesla says it plans to offer its first paid driverless robotaxi ride on June 22, so we will soon see if its actual autonomous driving works (with the caveat that there will be remote drivers available).

Still, the China rules are good news for Tesla, as CEO Elon Musk has said he believes scaling autonomous driving is more of a regulatory problem than a technical one.

“Once we can make it work in a few cities in China, we can make it work anywhere in China — likewise in Europe, limited only by regulatory approvals,” Musk said on the company’s latest earnings call.

Since the team for its so-called full self-driving (FSD) technology is based in the US, a framework for transmitting data is necessary to progress the technology there, Bloomberg says.

Tesla, which has partnered with Baidu in China to process mapping data, rolled out some FSD tools to China earlier this year. The company faces steep competition from local rivals like BYD that already offer plenty of driver assistance features as a standard.

Of course, the term “full self-driving” is still a bit of a misnomer, since the technology currently requires human supervision. Tesla says it plans to offer its first paid driverless robotaxi ride on June 22, so we will soon see if its actual autonomous driving works (with the caveat that there will be remote drivers available).

Still, the China rules are good news for Tesla, as CEO Elon Musk has said he believes scaling autonomous driving is more of a regulatory problem than a technical one.

“Once we can make it work in a few cities in China, we can make it work anywhere in China — likewise in Europe, limited only by regulatory approvals,” Musk said on the company’s latest earnings call.

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tech
Nate Becker

Tesla CEO Elon Musk wins appeal for his 2018 pay package

Tesla CEO Elon Musk has won an appeal to the Delaware Supreme Court, restoring his 2018 pay package that was worth $56 billion at the time but has since ballooned in value, Reuters reports.

Two years ago, a lower court had struck down the compensation deal, calling it “unfathomable,” and Musk has been fighting for it since then.

Of course, Musk was recently awarded an even bigger pay package that could potentially award him $1 trillion over time. Tesla shares were recently up 0.5% in after-hours trading.

Of course, Musk was recently awarded an even bigger pay package that could potentially award him $1 trillion over time. Tesla shares were recently up 0.5% in after-hours trading.

tech
Jon Keegan

OpenAI’s reported fundraising valuation keeps jumping by hundreds of billions of dollars

OpenAI is reportedly in talks to raise as much as $100 billion, with a valuation of....$500 billion...$750 billion $830 billion?

This is getting ridiculous. This week we have read multiple reports that OpenAI is in early discussions with potential investors about a significant fundraising round of up to $100 billion, to help cover its cloud computing costs.

  • On Tuesday, The Information reported a major $10 billion investment from Amazon in OpenAI, with a valuation higher than $500 billion

  • On Wednesday, The Information reported that the $100 billion round would give OpenAI a valuation of $750 billion

  • Today, the Wall Street Journal is reporting that the $100 billion round would give OpenAI a valuation of as much as $830 billion

The spread from $500 billion to $830 billion is pretty wild, and we are wondering what it might be by next week.

  • On Tuesday, The Information reported a major $10 billion investment from Amazon in OpenAI, with a valuation higher than $500 billion

  • On Wednesday, The Information reported that the $100 billion round would give OpenAI a valuation of $750 billion

  • Today, the Wall Street Journal is reporting that the $100 billion round would give OpenAI a valuation of as much as $830 billion

The spread from $500 billion to $830 billion is pretty wild, and we are wondering what it might be by next week.

tech
Jon Keegan

Report: OpenAI in early talks for new fundraising round with $750 billion valuation

Just yesterday, we were reading about how Amazon was in talks to invest as much as $10 billion in OpenAI, with an eye-popping valuation of more than $500 billion. But those numbers might already be old.

A new report by The Information says that OpenAI is in early talks to raise as much as $100 billion, with a $750 billion valuation.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

The company is reportedly estimating its fast-growing revenue will hit $100 billion by 2028, but it also expects to burn $115 billion in cash through 2029.

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