- 80/20 AI
- Posts
- OpenAI $5B Loss
OpenAI $5B Loss
Alamin Hossain
September 30, 2024
Welcome to our Monday edition!
In today’s menu:
AI Inspiration Quote
OpenAI Faces $5B Loss
AI Tool Transforms Your Photos!
Iran's RIT AI Makes Patents Simple
Top Rated AI Tools
Byte Sized news
How to Analyze images with AI
Reading time: 7 minutes
AI INSPIRATIONAL QUOTE
If you don’t like the road you’re walking Start walking your own.
LATEST NEWS
OpenAI Faces $5B Loss
OpenAI is raising funds despite expecting $5 billion in losses
OpenAI is raising capital from various investors and might reach $150 billion in valuation.
Expected revenue by the end of 2024 is $3.7 billion, but losses are anticipated to be $5 billion.
Apple has reportedly withdrawn its planned investment, while Nvidia is proposing $100 million.
Despite impressive revenue growth, OpenAI's financial situation reveals high operational challenges. The shift from a non-profit to a for-profit entity also highlights significant changes in its future direction.
Don’t Miss Any Information Ever Again
Reading newsletters in the inbox is frustrating
It is noisy and easy to lose control of subscriptions.
Now you can enjoy your newsletters outside the inbox with Meco, an app built for reading.
AI Tool Transforms Your Photos!
Cutout pro is an AI-powered visual design platform offering various tools for individuals and businesses.
Its main features include:
Image background removal
Photo enhancement and upscaling
Cartoon selfies
Background diffusion
And more
It also provides solutions for image design, e-commerce, developers, ID photo creation, old photo restoration, and customized printing.
Iran's RIT AI Makes Patents Simple
AI Engine "RIT" Unveiled in Iran to Simplify Brainstorming and Patent Registration
RIT, an AI platform developed in Iran, helps users develop ideas and streamline the patent registration process.
It supports 50 languages, complies with European AI standards, and offers precise answers with advanced algorithms.
A free three-day trial is available, followed by a $48 monthly subscription, with plans for free access for students.
This platform, developed entirely in Iran, aims to make the patent process easier and more accessible locally and internationally.
Top Rated AI Tools
Wispr Flow: Speak naturally, write perfectly & 3x faster in every app
Hubmee: Personal digital manager
interview.co: An all-in-one platform for recruiters
Buildpad: Build products that people actually want
BeeDone: A daily routine planner
8020AI Picks
Regulation: California Governor Gavin Newsom vetoed AI safety bill SB 1047, calling it overly strict and insufficient for real AI threats.
Investment: Google reportedly spent $2.7 billion to rehire AI expert Noam Shazeer and acquire tech from his startup, highlighting the value of AI talent.
Tech: Samsung unveiled the Galaxy Tab S10 and Galaxy S24 FE, hinting some Galaxy AI features may become paid by late 2025.
Market Strategy: Huawei aims to become Nvidia's top competitor in China's AI chip market by producing its own Ascend 910C chips to replace Nvidia's.
How to Analyze images with AI
GroqCloud's new LLaVA v1.5 7B model lets you analyze images and get AI-powered insights almost instantly.
Here's how:
Go to the GroqCloud Developer Console.
In the top-right, open the models dropdown menu and select "llava-v1.5-7b-4096-preview".
Upload your image by dropping it in the designated area or using the file browser.
Enter a prompt or question about the image in the "MESSAGE" field below.
Click "Submit" to get the AI analysis of your image.
FEEDBACK
Help us improve the newsletter for you.
How was 8020AI today? |
If you have specific feedback or anything interesting you’d like to share, please let us know by replying to this email.