🤔 Who Owns OpenAI?

PLUS: 📚 Streamline Text Analysis with Highlight AI

Author

Ben Chon
October 24, 2024

In today’s newsletter:

  • News - 🤔 Who Owns OpenAI?

  • Productivity - 📚 Streamline Text Analysis with Highlight AI

  • Culture - 🚫 Ariana Grande Slams AI Edits

Check out our Meme of the Day at the bottom of the newsletter for your daily dose of AI-powered humor!

🤔 Who Owns OpenAI?

Source: Getty Images

Microsoft and OpenAI are currently in intense negotiations over how to convert Microsoft's nearly $14 billion investment into equity, as OpenAI transitions from a nonprofit to a for-profit company. With a recent valuation of $157 billion, OpenAI's shift has raised questions about how much equity Microsoft will receive, given its substantial financial backing. Currently, Microsoft's stake is tied to a complex profit-sharing structure, but both companies are working to simplify this into common stock.

As OpenAI's largest investor, Microsoft stands to gain a significant ownership stake, potentially owning up to 49% depending on future profit projections. However, antitrust scrutiny and governance rights are critical considerations that could impact the final terms of the deal. Both companies have hired top investment banks, Morgan Stanley and Goldman Sachs, to help navigate this high-stakes negotiation.

🗞️ In Other News…

📚 Streamline Text Analysis with Highlight AI

Source: Yahoo Finance

Highlight AI is an innovative Chrome extension designed to simplify the reading and comprehension process. By highlighting text on any webpage, users can leverage AI models like GPT-4 to generate summaries, answer questions, and provide deeper insights. This makes it particularly useful for students, professionals, and researchers who need quick and effective ways to digest complex information.

Additionally, Highlight AI offers features such as transcription, smart search, and content summaries, allowing users to streamline tasks like studying, research, and article writing. It's a great tool for anyone looking to enhance productivity by using AI to handle time-consuming text analysis.

🚫 Ariana Grande Slams AI Edits

Source: Billboard

Ariana Grande recently addressed the controversy surrounding AI-generated Wicked memes, after her co-star Cynthia Erivo called fan edits “offensive” and “deeply hurtful.” Speaking at the Academy Museum Gala, Grande called the situation “complicated,” expressing her mixed feelings about AI technology, noting that it’s an adjustment period as fans create these edits, even though they sometimes go too far. She also voiced her deep respect for Erivo, supporting her stance on the matter.

The issue arose when Erivo criticized a photoshopped poster of the Wicked film, calling it a disrespectful alteration of the original design. The controversy reflects broader concerns about AI-generated content in the entertainment industry, as both stars prepare for the release of Wicked, set to premiere on November 22. Despite the tension, Grande confirmed her enthusiasm for working with Erivo on future music projects.

VC Fundraising Rounds

  • Globality, a platform that revolutionizes how businesses buy and sell services by matching the best provider at the right price for every project, has raised $47M in venture funding. (10/22/24)

  • Socket, a developer-first security platform that protects your most critical apps from software supply chain attacks, has raised $40M in Series B funding. (10/22/24)

  • India’s Neysa, an AI acceleration platform that develops AI native applications for businesses, has raised $30M in Series A funding. (10/22/24)

  • Reality Defender, a detection platform to identify and assess risks associated with false media content, has raised $33M in Series A funding. (10/22/24)

Meme of the Day

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