OpenAI’s historic funding round

$6.6 billion raised to build ever-larger AI models.

AuthorAuthor

Tak Lo & Daniel Akpobare
October 03, 2024

Hello and welcome to the Automated, your AI tour guide.

OpenAI just raised $6.6 billion to advance its mission to build larger AI models, making waves in Silicon Valley and beyond, but there’s a catch. Stick with us to find out!

Here’s what we have for you today:

  • 🤑 OpenAI’s historic funding round!

  • 😱 The dark side of Meta’s Ray-Ban glasses.

  • 🛠️ An ultimate list of 30+ AI website builders around the web.

  • 💼 7 ChatGPT prompts to know If your business idea is good.

  • 🤖 ChatGPT Prompt Of The Day: Draft an Ad Script.

🤑 OpenAI’s historic funding round!

OpenAI just secured a historic $6.6 billion funding round, pushing its valuation to $157 billion.

Thrive Capital, which threw in a cool $1 billion, led the round, and they reportedly scored an exclusive deal that other investors are not getting.

That deal allows them to invest another $1 billion next year at the same valuation if OpenAI meets a revenue goal.

So, what's the plan for all this cash?

It's all going toward the extremely expensive task of training cutting-edge AI models.

OpenAI has ambitious plans to develop a series of "reasoning" models, and those come with hefty costs, so funding rounds like this one are absolutely crucial.

But there’s a catch:

These funds are dependent on OpenAI restructuring itself as a for-profit company.

And it’s been reported that investors can demand their money back if OpenAI doesn't make the switch within two years.

On top of that, OpenAI has urged investors to steer clear of supporting competitors like Anthropic and Elon Musk's xAI.

Now, that’s a bold but rare move on OpenAI’s part. Competition is getting serious, wouldn’t you say?

💃 New Daily Content Series

We're thrilled to announce the launch of our new daily content series, "The Automated Show," which is available as a Podcast and on Instagram.

This is an exciting new way for you to stay up-to-date on the latest news and insights in the world of AI and automation.

For "The Automated Show" Daily Podcast, you can tune in every weekday for a fresh 1-minute episode covering top AI and automation stories, trends, and developments.

With "The Automated Show" Instagram Reels, we'll post one-minute video updates on our Instagram channel @theautomated_media.

These short, snackable Reels will complement the podcast by providing a visual overview of the latest AI innovations and applications.

Interested? We sure hope you are!😃

You can find "The Automated Show" podcast on Spotify, Apple Podcasts, and other major platforms.

Be sure to subscribe so you never miss an episode.

😱 The Dark Side of Meta’s Ray-Ban Glasses.

Who else would do anything to snag a pair of Meta’s Ray-Ban smart glasses? If that’s you, hold up—there’s something you need to know.

It turns out that using Meta’s AI features with these glasses means any photos or videos you share could be used to train their AI.  Yeah, you read that correctly.

Meta's policy guy, Emil Vazquez, confirmed that in the U.S. and Canada, your cute selfies, closet tours, random lunch pics—or worse, shots of your family—could be used to feed Meta's ever-expanding AI empire.

And it’s all tucked away in the fine print of their Privacy Policy (you know, the one no one actually reads).

Initially, when asked how they train their AI and whether your Ray-Ban footages are involved, Meta was silent—like crickets silent.

But now that they’ve finally responded – it’s… well, not exactly reassuring and creepier than we thought.

And here’s the kicker: there’s pretty much no way to opt out!

If you want to keep your photos and videos out of Meta’s AI training camp, your best bet is to avoid using the AI features entirely. A real downer, right?

What makes this scarier is Meta’s recent rollout of new AI features that make it easier to interact with the glasses.

There’s even a live video analysis feature that constantly feeds images into Meta’s AI. So, while you're going about your day, Meta’s AI is digesting all that data.

And don’t forget—Meta recently had to pay a whopping $1.4 billion to Texas over a facial recognition lawsuit.

So yeah, they've got a bit of a track record with privacy issues.

Oh, and if you like to chat while wearing the glasses, you should know that Meta also stores transcripts of your conversations by default. (Yeah, the Ray-Bans listen, too.)

You can opt-out if you want to, but it’s up to you to find that setting.

At the end of the day, Meta’s AI-powered Ray-Ban glasses might be pushing the future of smart eyewear, but they’re also a bit of a privacy minefield. 

Sure, you’ll look cool and futuristic, but Meta’s AI will be learning a lot more about you than you bargained for.

And it won’t just collect your data; it’ll also gather way more than you think and use it for purposes you’ll probably never find out about.

You should definitely read the full article—it’s packed with info you’ll want to know!

🧱Around The AI Block

  • BuyScout: Enhances your online shopping experience by providing product insights, facilitating chat interactions, tracking prices, and sending restock alerts.

  • Solidroad: An AI training and assessment platform.

  • PatternFast: The AI platform for instantly manufacturable apparel design and development.

  • Food Mood: Creates new recipes by mixing influences from two cuisines generated with the help of Google AI.

  • I/O Crossword: This unique crossword puzzle combines AI and word games for fun.

🤖ChatGPT Prompt Of The Day: Draft an Ad Script.

Generating compelling ads that can seamlessly blend into your content is very crucial. It ensures that your sponsors are happy and that your audience stays engaged.

Here's a prompt that can help you with that. 

Write a 30-second ad script for a [product] that will be promoted on a podcast episode. Execute this task as follows:

1. Identify the key features and benefits of the [product]. Understand what sets it apart from similar products in the market and why it would appeal to the podcast's audience.

2. Craft a concise and engaging script that highlights these key features while also aligning with the tone and style of the podcast. The script should be attention-grabbing, informative, and persuasive.

3. Incorporate a call to action that directs listeners on how they can learn more about or purchase the [product]. Make this call to action clear and easy to follow.

4. Review the script to ensure it fits within the 30-second time frame while delivering a compelling message. Make any necessary adjustments to optimize impact within the time constraint.

We've Compiled a List of Over 100 ChatGPT Power Prompts.

This should help streamline your interactions with ChatGPT and get the results you need more efficiently.

Best of all, It's free!

That's all we've got for you today.

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