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.

OpenAI Has Discussed Raising Tens of Billions at Valuation Around $750 Billion

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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Jon Keegan2h

Jensen Huang: We have achieved AGI now... sort of

Lots of AI leaders are thinking about a big moment looming over the current AI boom: when will we have achieved artificial general intelligence?

There’s no shortage of predictions, but we haven’t yet seen a full-throated declaration that this slippery milestone has been achieved.

Until now. On Lex Friedman’s podcast Monday, Nvidia CEO Jensen Huang was asked what he thought the timeline looked like for “an AI system that’s able to essentially do your job. So, run — no, start, grow, and run a successful technology company.”

Huang confidently answered: “I think it’s now. I think we’ve achieved AGI.”

Huang then hedged, noting that Friedman was talking about running a $1 billion dollar company, but he didn’t specify for how long. Huang elaborated, “It is not out of the question that a Claude was able to create a web service, some interesting little app that all of a sudden, you know, a few billion people used for $0.50, and then it went out of business again shortly after.”

So maybe it will be a while before Jensen Huang can get help running Nvidia by eating his own dog food.

Nvidia CEO Jensen Huang says ‘I think we’ve achieved AGI’

Huang confidently answered: “I think it’s now. I think we’ve achieved AGI.”

So maybe it will be a while before Jensen Huang can get help running Nvidia by eating his own dog food.

17.5%

Jon Keegan2h

OpenAI is trying to woo private equity investors with a sweet offer: a guaranteed minimum return of 17.5% on their investments, which is “significantly higher than typical preferred instruments,” as well as early access to new models, according to a report from Reuters.

The deal aims to build joint ventures to raise capital amid OpenAI’s intense competition for a bigger slice of the enterprise AI market. The minimum return offer is something that its competitor Anthropic is not currently offering, per Reuters.

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Rani Molla3h

Musk’s Terafab might be his most technically difficult challenge yet

One does not simply start fabricating semiconductors.

Jon Keegan5h

Rani Molla7h

Alphabet’s drone delivery startup, Wing, expands service to the Bay Area

Move over Waymo — another one of Alphabet’s “Other Bets” is expanding. Drone delivery company Wing said Monday it’s bringing its “ultra-fast residential drone delivery service” to the Bay Area, where autonomous ride-hailing service Waymo also has a sizable presence.

Wing’s homecoming: Bringing drone delivery to the Bay Area

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