Nvidia's 'insane' chip demand, OpenAI's big money, and Google's next move: AI news roundup
On Wednesday, OpenAI (MSFT) announced it had completed a $6.6 billion funding round, valuing it at $157 billion. The artificial intelligence startup’s raise is the largest private investment ever, and puts it among the top three largest startups with venture backing, Bloomberg reported.
OpenAI said Thursday it had secured another $4 billion through a credit facility with major global banks including JPMorgan Chase (JPM), Goldman Sachs (GS), and Morgan Stanley (MS).
Read about this and more in the AI news roundup.
Nvidia stock rises after Jensen Huang says demand for its new AI chips is ‘insane’
Nvidia’s (NVDA) next-generation artificial intelligence chip is in full production, and demand for it is “insane,” according to CEO Jensen Huang.
OpenAI has $10 billion in cash to burn
On the heels of a $6.6 billion funding round, OpenAI has secured access to billions more from some of the biggest global banks.
OpenAI will fall the hardest when the AI bubble bursts, analyst says
OpenAI is now worth more than people were expecting.
Hurricane Helene could wreak havoc on chip production
The trail of devastation left by Hurricane Helene after it swept across the U.S. is only just being fully realized, with houses flooded, roads ripped up and EVs bursting into flames as a result of all the salt water that flooded some states. Now, it’s emerged that the storm may wreak havoc on the auto industry after it shuttered a factory that produces elements essential for microchips.
OpenAI is now worth more than $150 billion
OpenAI’s multibillion-dollar funding round is now complete, giving the artificial intelligence startup a valuation of $157 billion.
Google is taking its rivalry with OpenAI to another level
Google (GOOGL) reportedly wants to bring its artificial intelligence rivalry with OpenAI to the next level of AI models: those that can “reason.”
Robots are playing a big part in the U.S. port strike. Here’s how
Thousands of dockworkers along the East Coast and Gulf Coast are on strike for the first time since 1977 — partly due to robots.
Nvidia and 6 other firms that could get in on OpenAI’s next big funding round
Amid a spate of executive resignations and reports that it’s spending more than it’s making, OpenAI is reportedly preparing to close a $6.5 billion funding round that could value the artificial intelligence startup at $150 billion.
AI’s thirst for energy has another nuclear plant coming online
The Department on Energy closed on a $1.52 billion loan to Holtec Palisades on Monday in a first-of-its-kind effort to fund the restoration of a nuclear power plant in Michigan.
TikTok’s owner will use Huawei chips for a new AI model as China cracks down on Nvidia
As the U.S. escalates export controls on China, TikTok’s owner is reportedly planning to use a homegrown chipmaker for an artificial intelligence model it’s developing.