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- 🤖🔥 SoftBank’s $500M Bet on OpenAI, 1,700% Revenue Surge, Altman Urges Biden for AI Data Centers!
🤖🔥 SoftBank’s $500M Bet on OpenAI, 1,700% Revenue Surge, Altman Urges Biden for AI Data Centers!
OpenAI’s revenue soars 1,700% to $300M/month, as SoftBank invests $500M. CEO Sam Altman calls for AI data centers to stay competitive!
Himanshu Maggu
October 01, 2024
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Welcome back! This is The AI Takeover, read this daily so you don’t get left behind by AI! In todays newsletter:
- 🚨 SoftBank Bets Big: $500M Investment in OpenAI!
- 🚨 OpenAI Sees 1,700% Revenue Surge, Seeks $7B Funding!
- 🚨 Sam Altman Urges Biden to Build Power-Hungry AI Data Centers!
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NEWS
SoftBank Bets Big: $500M Investment in OpenAI!
SoftBank aims to invest $500 million in OpenAI's funding round, potentially raising its valuation to $150 billion. Microsoft will also join this round, showcasing OpenAI's impressive 1,700% revenue growth, despite anticipated losses of $5 billion. This investment highlights the growing interest and confidence in OpenAI's future in the AI landscape.
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NEWS
OpenAI Sees 1,700% Revenue Surge, Seeks $7B Funding!
OpenAI's latest financial reports show impressive growth, with monthly revenues hitting $300 million—up 1,700% since early 2023. The company projects annual sales of $3.7 billion but anticipates a loss of about $5 billion this year due to high operational expenses. To support its expansion, OpenAI is pursuing $7 billion in a new funding round, aiming for a valuation of $150 billion.
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NEWS
Sam Altman Urges Biden to Build Power-Hungry AI Data Centers!
OpenAI CEO Sam Altman is advocating for the Biden administration to establish AI data centers that require up to five gigawatts of power, ensuring the U.S. maintains its technological edge over China. The proposal includes building several data centers across the country. Additionally, major tech companies like Microsoft and Amazon are pursuing nuclear power agreements to bolster their AI operations.
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