💡 OpenAI Worth $80 Billion

Plus: OpenAI Versus Google

Read time: 2 minutes (Click underlined topics or headings for links.)

Hey Edge Family, good morning! OpenAI is still dominating the game; they are now worth $80 billion.

The Breakdown

💎 3 Top AI Tools

Meetingly: Record, transcribe, and analyze sales calls

Docus: Empower your health decisions with AI

Kaiber: Turn text, videos, photos, and music into stunning videos

🚨 Latest Developments 

Source: Reuters

Big Takeaway: According to The New York Times, OpenAI finalized a deal valuing the AI research company at over $80 billion, with financial backing from Microsoft.

  • The deal involves a tender offer led by Thrive Capital, allowing the sale of existing shares. Despite OpenAI being listed as a non-profit…

  • Employees of OpenAI will have the opportunity to cash out their shares, differentiating this from a traditional funding round that raises capital for the company.

  • This comes after venture capital firms like Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global purchased shares of OpenAI through a tender offer last year at a valuation of approximately $29 billion.

Source: AI Beat

Big Takeaway: OpenAI is reportedly developing a web search product, aiming to challenge Google's dominance in the search market.

  • Google has a market share of around 96% on smartphones and a global market share of about 90.7% across all platforms (desktop, mobile, and tablet) as of June 2023.

  • This new search product from OpenAI may integrate with Microsoft's Bing, leveraging Microsoft’s 10% market share in the search industry.

  • At this point, it's not clear whether OpenAI's search product will stand alone or be connected to its current ChatGPT robot. But OpenAI has not made any official announcements yet.

Would rather use ChatGPT or Google Search? And why?

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🔎 Extra Insights 

Reddit has signed a $60 million annual contract allowing an unnamed AI company to train models on its content ahead of its IPO plans, according to Bloomberg. As interest in AI surges, the deal could be a catalyst for future Reddit licensing agreements.

Apple is expanding internal testing of new AI coding features for its Xcode developer software and plans to release them this year. The tools apply large language models to predict and autocomplete code, similar to GitHub Copilot and Amazon CodeWhisperer.

California state Senator Scott Wiener has proposed a bill to create a new Frontier Model Division within the state's Department of Technology to oversee AI regulations. This would enforce mandatory testing of LLMs before public release and require emergency off switches.

💻 Real Life Use Cases

Chat GPT Prompt: Step-by-step framework

Use this ChatGPT prompt to create a guideline for a step-by-step framework in copywriting.

Copy and paste the prompt below:
How can a step-by-step framework in copywriting demonstrate the practical application and real-life benefits of (insert product or service) to potential customers?

Want to access 500+ more research-backed prompts like this? Join The Edge Pro Today! Join The Edge Pro Today! *Special early bird offer: 35% off!

Here’s a link to the results:

💼 Who’s Hiring in AI

Job Title

Company

Salary Range

Location

Director of Enterprise Sales

Run:ai

N/A

Remote

AI development (Entry)

Data Annotation

$20/hr+

Remote

AI Software Engineer

Zoom

$153k-$269k

Remote

🎲 AI Game

Which Picture is AI Generated?

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If you have something interesting or just want to reach out, don’t hesitate to DM me on Twitter @Brandoncarterss

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