🚀 Apple, Nvidia in talks to Invest in OpenAI

Also: Meta's Llama models hit 350 million downloads

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Evolving AI
August 30, 2024

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Welcome, AI enthusiasts

Apple and Nvidia are rumored to be considering investments in OpenAI, which could boost the company's valuation to an astounding $100 billion. At the same time, Meta's open-source Llama models have been downloaded nearly 350 million times, seen a 10x increase in downloads over the past year. Meanwhile, Gmail users on Android can now directly interact with Google's AI, Gemini, to chat about their emails, showcasing the expanding integration of AI into everyday applications. Let’s dive in!

In today’s insights:

  • Apple, Nvidia in talks to Invest in OpenAI

  • Meta’s Llama models hit 350 million downloads, leads open-source AI

  • Gmail users get AI Chat upgrade with Gemini on Android

Read time: 4 minutes

🗞️ LATEST DEVELOPMENTS

Source: Bloomberg / Getty Images

Evolving AI: Apple and Nvidia may soon invest in OpenAI, a move that could push the AI company’s valuation to $100 billion.

Key Points:

  • Nvidia and Apple are in talks to join OpenAI's next fundraising round.

  • The round could value OpenAI at $100 billion.

  • OpenAI faces significant financial losses despite high revenue.

Details:

Apple and Nvidia are in discussions to join OpenAI's new funding round, which could value the company above $100 billion. This move follows reports that Thrive Capital will lead the funding with a $1 billion investment. Microsoft, already a significant investor in OpenAI, is also expected to participate. Apple's interest in OpenAI aligns with its AI strategy, especially after introducing ChatGPT to Apple devices in June. The investment amounts from Apple and Microsoft remain undisclosed, highlighting a strategic push by tech giants to secure positions in the fast-evolving AI landscape.

Why It Matters:

Apple has historically stayed away from investing in startups. Nvidia has more recently increased its investment activity over the past two years, including by investing in a series of AI companies. The potential funding comes at a time of intense competition in the AI industry, with tech giants such as Google, Amazon and Meta Platforms developing their own AI products and investing heavily in the sector.

Startup PromoTix ($48M in traction) is saving the events industry

  • Solving high ticket fees and low attendance issues

  • Offers low-fee, SaaS, and patented marketing tools

  • Raising funds for expansion; profitable with 656k users

Evolving AI: Meta's open-source Llama models see a 10x download surge year-over-year, signaling a shift toward open-source AI in the industry.

Key Points:

  • Meta's Llama models have seen a dramatic increase in adoption, with downloads nearing 350 million.

  • Major enterprises like Zoom, Spotify, and AT&T are integrating Llama models into their operations.

  • The open-source strategy is challenging the dominance of closed-source AI, pushing companies like OpenAI to adapt.

Details:

Meta's Llama models are surging in popularity - downloads on Hugging Face have increased more than 10 times in just a year, reaching nearly 350 million. This spike comes as enterprises such as Zoom, Spotify, and AT&T adopt these models for various applications. Meta's open-source approach has enabled a diverse ecosystem, encouraging innovation and offering competitive alternatives to closed models. The release of Llama 3.1 has further boosted usage, highlighting a significant shift toward open AI models, evidenced by rising demand and expanding cloud partnerships.

Why It Matters:

Meta’s open-source strategy is clearly paying off. While OpenAI had a head start in the generative AI game, Meta quickly jumped on the bandwagon with its Llama model. However, instead of going closed-source, it focused on an open approach, making its ecosystem available for everyone to develop and improve. The biggest advantage of open-source AI for the public is its transparency, allowing anyone to inspect, modify, and enhance the code, fostering innovation, collaboration, and trust.

Source: Google

Evolving AI: Gmail users on Android can now chat with Google’s AI, Gemini, directly about their emails.

Key Points:

  • Google’s Gemini can now summarize and search emails for Android users in the Gmail app.

  • Currently available for paying users, with a rollout to iOS expected soon.

  • Gemini may occasionally provide inaccurate information, a common issue with current AI models.

Details:

Google has introduced a new feature, Gmail Q&A, allowing Android users who subscribe to Gemini to chat with the AI assistant directly within the Gmail app. This feature, marked by a black star icon, can summarize emails and find specific details on request. However, users should be cautious of occasional inaccuracies due to AI limitations. For now, Gmail Q&A is exclusive to email access, but Google plans to expand it to include files in Google Drive.

Why It Matters:

By integrating AI directly into the Gmail app, Google is moving beyond traditional search functions and encouraging a more conversational, AI-driven experience. This feature aims to streamline email management by providing summaries and extracting key details without the need to manually sift through countless messages.

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