In today’s newsletter:

• News - 🤯 OpenAI Secures $6.6B Amid Rapid Growth and Turmoil

• Productivity - 📧 Boost Your Inbox Efficiency with Mailbutler's AI Tools

• Culture - 🌞 NASA’s New AI Warns of Solar Storms Before They Strike!

🤯 OpenAI Secures $6.6B Amid Rapid Growth and Turmoil

OpenAI has raised an impressive $6.6 billion in new funding, bringing its valuation to a staggering $157 billion, on par with companies like Goldman Sachs and Uber. This round, led by Thrive Capital with contributions from Microsoft, Nvidia, and SoftBank, is one of the largest ever for a private company. The investment comes at a critical time for OpenAI, as it continues to experience internal shakeups, including the departure of top executives like CTO Mira Murati, all while maintaining its position as a leader in the AI space with ChatGPT boasting 250 million weekly active users.

Despite its rapid growth and product launches, OpenAI remains unprofitable, projecting a loss of around $5 billion this year on $3.7 billion in revenue. However, the company is optimistic, expecting revenue to surge to $11.6 billion by 2025. OpenAI's push for dominance in the competitive AI market is fueled by the high cost of developing and operating advanced models, as well as the race to secure top AI talent. With a new chief financial officer and continued momentum in launching products, the company's future looks promising, despite ongoing internal challenges.

🗞️ In Other News…

• Nvidia is partnering with Accenture to train 30,000 consultants on AI tools and drive business adoption, aiming to expand AI use across industries while boosting demand for Nvidia’s chips.

• Oracle is investing over $6.5 billion to establish a public cloud region in Malaysia, supporting the country's AI and cloud service demand, while contributing to its goal of creating 3,000 smart factories by 2030.

• The Cancer AI Alliance, formed by four leading cancer centers and supported by AWS, Deloitte, Microsoft, and NVIDIA, will leverage AI and shared data to accelerate cancer research and care, with an initial funding of over $40 million.

• Palantir Technologies and Edgescale AI have formed a strategic partnership to launch Live Edge, integrating AI into manufacturing and utilities to enhance operational efficiency and data accessibility.

📧 Boost Your Inbox Efficiency with Mailbutler's AI Tools

Mailbutler is an AI-powered email plugin designed to supercharge your inbox with productivity-boosting features. With its Smart Assistant, it can write, summarize, and improve emails, while advanced tracking shows when and where your messages are opened—all without recipient approval. The tool’s Smart Send Later feature and recipient-optimized scheduling ensure emails are delivered at the perfect time to maximize engagement.

Beyond email composition and tracking, Mailbutler offers a suite of organizational features. From snoozing less important messages to managing contacts, tasks, and notes, it helps streamline customer communication and internal collaboration. With added perks like professional email signatures, templates, and seamless integration across platforms, it’s an ideal solution for boosting efficiency without leaving your inbox.

🌞 NASA’s New AI Warns of Solar Storms Before They Strike!

NASA is developing a cutting-edge AI-powered model, called Dagger, to predict solar storms and provide early warnings. Using AI to analyze satellite data on solar winds, Dagger can offer up to 30 minutes of advance notice before a solar storm hits anywhere on Earth. This warning system could be crucial in preparing for and mitigating the damage these storms might inflict on power grids and essential infrastructure.

Solar storms, like the infamous 1859 Carrington Event, can cause widespread disruption. If a storm of similar magnitude struck today, it could have catastrophic consequences for our highly electrical and communication-dependent society. By using AI to quickly and globally predict these storms, Dagger represents a significant leap forward in space weather forecasting and preparedness.

VC Fundraising Rounds

• OpenAI, the company behind ChatGPT, has raised $6.6 billion in a record-breaking funding round, valuing the startup at $157 billion. (10/2/24)

• Poolside, an AI-powered software development platform, has raised $500 million in new capital. (10/2/24)

• Dexory, a UK-based robotics startup founded by Romanians, has successfully raised $80M (€72.29M) in its Series B funding round. (10/1/24)

• Resolve AI, a startup focused on automating software operations, has secured $35 million in seed funding, with Greylock leading the investment, as it joins the growing field of AI-driven tools for software engineers. (10/1/24)

• Numa, an AI platform designed for auto dealerships, has announced the successful raise of $32 million in its Series B funding round. (10/1/24)

Earn Free Rewards 🎁 

Get rewarded for helping others level up their AI game 👇️

25 referrals - 30 minute chat with Ben Chon, founder of rareliquid

1 referral - Daily VC AI Fundraising Tracker

You currently have 0 referrals.

Copy & paste this link: https://www.rarecandyai.com/subscribe?ref=PLACEHOLDER