Here’s a last burst of news before a large number of people check out for the next few days - enjoy!
HSBC estimates OpenAI must secure roughly $207B by 2030 to counter mounting losses amid soaring demand. The report puts OpenAI under pressure to revisit its funding strategy as the current model shows signs of strain.
Apple is marking a comeback by reclaiming smartphone leadership with its iPhone 17 series, overtaking competitors like Samsung. In parallel, OpenAI has improved ChatGPT by integrating voice responses directly within chats, providing a smoother, more natural user interaction.
Meanwhile, sparks are flying in the chip arena as Google is reportedly developing its Tensor Processing Units to challenge Nvidias long-held supremacy in AI chip technology. A MIT study further underscores the evolving landscape by forecasting that nearly 12% of US jobs might be automated by AI.
On the investment front, Carles Reina, known for backing ElevenLabs, has launched a $15M solo GP fund targeting early-stage AI, defense, and robotics ventures. Additionally, Procure AI secured a $13M seed round to scale its procurement automation solutions across Europe. Disruptions remain a concern as several London councils have been hit by a cyberattack, and Character.AI has introduced a Stories feature to provide underage users a safer chat experience.