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🐶 OpenAI could lose $5B in 2024

🐶 OpenAI could lose $5B in 2024

PLUS: Meta launches AI selfie Wizard

Barsee
25 Jul

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Hey, hi, hello,

It’s Barsee, again. Happy Thursday, AI family, and welcome back to AI Valley 🐶

In today’s edition:

💰 OpenAI could lose as much as $5B in 2024
🪄 Meta launches AI selfie Wizard
🔍️ Plus trending AI tools and resources

Ready, set, go…

🍦 MAIN SCOOP

💰 OpenAI could lose as much as $5B in 2024

What’s going on?

A new report from The Information claims OpenAI could face an astounding $5 billion loss this year and might run out of cash within the next 12 months.

So, what’s the deal?

A new report points out that OpenAI costs for AI training and inference could skyrocket to a whopping $7 billion this year, with staffing costs climbing to $1.5 billion.

That’s a huge jump compared to competitors like Amazon-backed Anthropic, which is looking at a 2024 burn rate of $2.7 billion.

What's wild is that just last year they were losing $540M a year. Now, those losses have skyrocketed 10x.

What does this mean for OpenAI?

If the report's legit, OpenAI needs to grab extra funds soon—either from private investors or by going public.

They’ve already nailed seven funding rounds and raked in over $11 billion, so they can do it again.

Why won’t they run out of cash?

Because AGI is like a future $5 trillion goldmine. Big companies are ready to throw billions at them to hit that jackpot. 💰

🚀 Lambda: distributed training on hundreds of NVIDIA GPUs made accessible *

Source: Lambda

Distributed training massively accelerates the speed of training, time-to-solution, and model accuracy.

With Lambda's 1-Click Clusters, ML Teams get immediate access to GPU clusters featuring 16 to 512 NVIDIA H100 Tensor Core GPUs, interconnected with NVIDIA Quantum-2 400Gb/s InfiniBand networking.

1-Click Clusters are rentable for weeks instead of months, with no long-term contract required.

🪄 Meta launches AI selfie Wizard

Source: Meta

What's going on?

Meta has unveiled the "Imagine Me" tool for Meta AI that can transform your selfies and simple prompts into AI self-images or portraits.

How to use it?

You need to type “Imagine Me” in the chats with Meta AI, add a prompt like “Imagine me as a hero" or “Imagine me in a surrealist painting,” and it will get the job done for you.

What’s the sauce behind it?

The real magic of “Meta Imagine Me” comes from Meta’s powerhouse Llama 405, which lets the tool grasp and interpret intricate prompts, delivering highly detailed and visually stunning images.

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🤝 THE LATEST IN

TECH

Inside the 78 minutes that took down millions of Windows machines (4 minute read)
The biggest-ever global outage: lessons for software engineers (4 minute read)
Apple Maps launches on the web to take on Google (1 minute read)

AI

Bing generative search launches, coming after Google, Perplexity (1 minute read)
Lambda launches on-demand H100 GPU Clusters, democratizing AI training access. *
Stability AI just announced “Video 4D” with dynamic 3D object viewing (2 minute read)
Kling AI announced its international release. Here’s how to get access (2 minute read)
Mark Zuckerberg imagines content creators making AI clones of themselves (1 minute read)
WhatsApp is testing a personalized chatbot store ‘AI Studio’ in iOS beta (2 minute read)

BUSINESS

12 killer wedges for your company’s growth (4 minute read)
CrowdStrike outage cost Fortune 500 $5.4B, mostly in health, banking, and airlines (2 minute read)
Every company should be owned by its employees (3 minute read)

💎 USEFUL AI GEMS

TRENDING TOOLS

Brilliant > Get smarter + sharper with bite-sized, interactive lessons in AI, logic, data, programming, and more (and you can start for free) *
Openplexity Pages > It allows Llama 3.1 405B to create, organize, and share information.
TidyRead > Let AI curate and summarize your feeds into a tidy digest delivered at your chosen time.
Invue Prep > Mock interviews with AI.

HOT FINDINGS

Is a Universal Basic Income system even possible?
What does money look like in an AI utopia?
5 easy ways to access GPT-4o Mini: The latest compact AI model by OpenAI (4 are free.)
14 different use cases of Claude 3.5 Sonnet.
Create incredible product images and videos using Freepik x Luma AI.