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Nvidia becomes most valuable company in the world
News: Former OpenAI chief scientist launches new startup
Jack Shields
June 20, 2024
Welcome back!
Nvidia is officially the most valuable public company in the world. The company’s market value is still surging as demand for its GPUs refuses to falter. That and more…
In today’s Daily Update:
🗞️ Former OpenAI chief scientist launches new AI startup
🤖 Luma’s ‘Dream Machine’ caught copying Disney properties
📸 Nvidia passes Microsoft to become world’s most valuable company
🚨 AI Roundup: Four quick hits
Read time: 2 minutes
TOP STORY
🗞️ Former OpenAI chief scientist launches new AI startup
Source: Getty Images
OpenAI co-founder Ilya Sutskever announced yesterday that he is starting a new AI company called Safe Superintelligence (SSI).
The rundown:
Sutskever left OpenAI last month, allegedly due to safety concerns. He previously played a key role in briefly firing CEO Sam Altman last year.
Safe Superintelligence is an American firm with offices in Palo Alto and Tel Aviv.
The company says its progress toward superintelligence will be “insulated from short-term commercial pressures.”
Sutskever is starting SSI with Daniel Gross, who oversaw Apple’s AI efforts, and Daniel Levy, another former OpenAI employee.
Why it matters: The launch of Safe Superintelligence comes as concerns over OpenAI’s safety protocols continue to grow. Earlier this month, a group of 13 current and former OpenAI employees signed an open letter warning that AI companies are prioritizing profits over safety as they pursue AGI. Sutskever’s startup is late to the AI race, but its mission may be able to attract some of the industry’s leading talent.
AI INSIGHT
🤖 Luma’s ‘Dream Machine’ caught copying Disney properties
Screenshot: Monster Camp by Dream Machine
Users have discovered that Luma’s new video-generating tool Dream Machine can blatantly copy Disney’s intellectual property.
Key points:
Luma launched Dream Machine last week, making top-of-the-line AI video generation available to the public for the first time.
Users later noticed that a Dream Machine-generated short film called “Monster Camp” featured an exact copy of Mike Wazowski from Pixar’s Monsters, Inc.
The Wazowski sighting has raised questions over Dream Machine’s training data and Luma’s lack of transparency.
The tool is still available for free. Luma and Disney have not commented on the situation.
Why it matters: This is one of the biggest concerns about generative AI models today. OpenAI is currently facing a massive copyright lawsuit from The New York Times after ChatGPT copied some of the publisher’s news articles verbatim. The Dream Machine controversy reaffirms that there is a huge lack of transparency in the AI sector when it comes to training new models.
BUSINESS SPOTLIGHT
📸 Nvidia passes Microsoft to become world’s most valuable company
DALL-E 3
Nvidia just surpassed Microsoft’s market cap to become the most valuable public company in the world.
The details:
After Nvidia shares rose 3.6% on Tuesday, the company’s valuation increased to $3.34 trillion, passing Microsoft at $3.32 trillion.
Nvidia has around an 80% share of the market for AI chips used in data centers. The company’s shares are up over 170% so far this year.
Last quarter, Nvidia’s data center sales rose 427% from last year to $22.6 billion.
Although several competitors have tried to enter the AI chip market, none have been able to compete with Nvidia’s proprietary GPUs.
The big picture: Once a niche company known primarily for its graphics chips within the gaming community, Nvidia is now more valuable than each of the Big Five tech companies. Nvidia’s rise to the top highlights unprecedented investments in AI development, with the demand for AI infrastructure showing no signs of slowing down.
MORE TRENDING NEWS
🚨 AI Roundup: Four quick hits
Source: Snapchat
THAT’S ALL FOR TODAY