OpenAI has announced ‘The Stargate Project,’ a new company set to invest $500 billion into AI infrastructure over the next four years

The data centers will be exclusively used by OpenAI as it expands its generative AI compute portfolio. Of the total investment, $100bn will be deployed ‘immediately.’

SoftBank, OpenAI, Oracle, and Abu Dhabi’s MGX are the equity investors in Stargate, with SoftBank having financial responsibility and OpenAI having operational responsibility. SoftBank’s Masayoshi Son will serve as chairman.

The buildout is currently underway, starting in Texas – likely Oracle’s project in Abilene, Texas, which is itself leased from Crusoe. — Read More

When you live in tech bubble central, signs of a tech bubble become easier to spot every time. Drive to Silicon Valley on any of the Bay Area’s main arteries right now, and you’ll notice nearly every billboard pumping a product “driven by AI.”

On the same drive five years ago, you’d see the same scene with the word “blockchain.” Ten years ago: “big data.” Twenty-five years ago: literally any word followed by “.com.” Each one in turn, for all its promise, became a punchline.

It’s not a question of whether the Silicon Valley machine was wrong on any of these technologies. Especially not the dotcom thing. Heck, the entire internet had just dropped into our laps in the 1990s; you can’t blame anyone for dreaming about creating all the stuff we now take for granted. It’s a question of impatience: all the investors, startup shysters and panicked CEOs that rush in when a promising new technology emerges are eager for immediate results. — Read More

And how it could fizzle.

Artificial intelligence is already making people rich. Jensen Huang, the co-founder and CEO of chip company Nvidia, which controls 80 percent of the data-center AI chip market, has seen his net worth explode from a mere $4 billion five years ago to a staggering $83.1 billion as of March 24 on the back of bottomless demand for his company’s product.

ChatGPT maker OpenAI is reportedly valued at $86 billion, with rivals Anthropic and Inflection at $15 billion and $4 billion as of their most recent funding rounds. While OpenAI CEO Sam Altman says he owns no shares in the company, it’s possible, even likely, that other AI founders and execs have joined the three commas club by now, at least on paper.

But some researchers think this is only the beginning — that AI won’t just make a few techies wildly rich, the way social networking, smartphones, and personal computers did before. Believers in a growth explosion argue that AI is set to make society much, much richer by causing economic growth at a scale it has never experienced before. — Read More

A 39-year-old entrepreneur named Rocky Yu founded AGI House, the baller hacker crib for young AI entrepreneurs, in a $68 million mansion in Hillsborough, California. Talking shop and working on their AI startups is the highlight instead of chillin’ in the massive mansion. — Read More

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The world of venture capital (VC) and startup fundraising can be daunting. The complex terminology, intricate strategies, and fast-paced dynamics require a deep and nuanced understanding. That’s where Foundational VC GPT comes in – an innovative platform designed to guide you through this intricate world with ease and precision. Whether you’re a budding entrepreneur, a venture capitalist in the making, or simply someone intrigued by the VC ecosystem, our AI-powered platform is here to answer your questions and guide you on your journey. — Read More

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Mistral AI was founded only four weeks ago, by a trio of AI researchers. The company has yet to develop its first product. It hopes to take on OpenAI with actual open-sourced models and data sets, setting itself apart by targeting enterprises instead of consumers. — Read More

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Humans are good at analyzing things. Machines are even better. Machines can analyze a set of data and find patterns in it for a multitude of use cases, whether it’s fraud or spam detection, forecasting the ETA of your delivery or predicting which TikTok video to show you next. They are getting smarter at these tasks. This is called “Analytical AI,” or traditional AI. 

But humans are not only good at analyzing things—we are also good at creating. We write poetry, design products, make games and crank out code. Up until recently, machines had no chance of competing with humans at creative work—they were relegated to analysis and rote cognitive labor. But machines are just starting to get good at creating sensical and beautiful things. This new category is called “Generative AI,” meaning the machine is generating something new rather than analyzing something that already exists. 

Generative AI is well on the way to becoming not just faster and cheaper, but better in some cases than what humans create by hand. Every industry that requires humans to create original work—from social media to gaming, advertising to architecture, coding to graphic design, product design to law, marketing to sales—is up for reinvention. Read More

I’ve spent 25 years watching, trading and investing in the stock market. The repetition of patterns is amazing. In every generation we see new bubbles, which form when a new innovation comes along and everyone gets excited about the future. The crowd gets swept away on a wave of madness, fueled by the recent gains they’ve seen for themselves (or for others) and all other considerations go out the window. Get me in, I don’t care how, I can’t miss out on this.

In December, ChatGPT began to spread like wildfire on social media. A handful of art-related AI programs like DALL-E 2 also began to proliferate on Instagram and some of the more image-oriented sites, but ChatGPT captured the imaginations (and nightmares) of the chattering class like nothing else we’ve ever seen.

Wall Street has begun to take notice of the AI theme for the stock market. It should be noted that trading programs based on earlier versions of AI have been around for decades, so the concept is a very comfortable one among analysts, traders and bankers at traditional firms. But now that there is retail investor interest in riding the wave, you’re going to see the assembly line lurch into action very rapidly. The switch has already been thrown. They’re pulling up their overalls and rolling up their sleeves. Funds, products, IPOs and strategies are being formulated in the dozens as we speak. This will hit the hundreds before we’re through. It’s merely stage one. Read More

The evaluation of the financial markets to predict their behaviour have been attempted using a number of approaches, to make smart and profitable investment decisions. Owing to the highly non-linear trends and inter-dependencies, it is often difficult to develop a statistical approach that elucidates the market behaviour entirely. To this end, we present a long-short term memory (LSTM) based model that leverages the sequential structure of the time-series data to provide an accurate market forecast. We then develop a decision making StockBot that buys/sells stocks at the end of the day with the goal of maximizing profits. We successfully demonstrate an accurate prediction model, as a result of which our StockBot can outpace the market and can strategize for gains that are 15 times higher than the most aggressive ETFs in the market. Read More