Tag: Funding

OpenAI CEO Sam Altman warns Silicon Valley investors that there is too much hype surrounding the short-term value of AI technology. Although the long-term potential is underhyped, Altman states that much work needs to be done before they can start the model. Despite this, the company recently raised $495 million in funding and is valued at $27-29 billion.

B2B startup Finch secures $3.5m in a fresh funding round led by Intuit Ventures, as it becomes the go-to source for unified APIs for businesses. The company is growing its customer base with its secure API that integrates directory, payroll, and benefits data across 200 systems. Finch connects 10,000 US employers and has seen its revenue shoot up by 12 times.

OpenAI CEO confirms that the company has no plans to go public soon due to possible conflicts with investor expectations. As AI technology grows, Altman emphasizes the need for regulation and acknowledges its potential threat to jobs in various sectors. Altman's global tour includes visits to Qatar, India, and South Korea, where he will address the rapid growth of AI technology. The EU is currently working on laws to govern AI, requiring companies such as OpenAI to disclose copyrighted material used to train their systems, which Altman has not disclosed.

LlamaIndex is an open-source project created by former Uber research scientist, Jerry Liu, which aims to unleash the potential of large language models such as GPT-3 and GPT-4. The unique framework enables developers to integrate personal or organizational data with LLMs, which can assist with question answering, summarization, and insight extraction. Since launching, LlamaIndex has already obtained 200,000 monthly downloads and raised $8.3m in seed funding last month. An enterprise version is scheduled to launch later in the year.

Three California universities named as top schools in the US to produce startup founders with the highest funding for their ventures since 2022. Stanford University leads the list with 472 funded graduates. Other colleges from California, such as UC Berkeley and USC, have also made it to the top 10. Despite a slowdown in venture capital funding, early-stage startups seem to be thriving.