Skip to content
TechVibe

TechVibe

  • Home
  • Web3
  • Technology
  • Health
  • Business
  • Sports
    • Cricket
    • Football
  • Press Release
  • Contact Us
  • Toggle search form

Rephrase the title:Microsoft-Backed OpenAI Hits $80 Billion Valuation in Groundbreaking Deal

Posted on February 19, 2024 By Haley Bennett

Rephrase and rearrange the whole content into a news article. I want you to respond only in language English. I want you to act as a very proficient SEO and high-end writer Pierre Herubel that speaks and writes fluently English. I want you to pretend that you can write content so well in English that it can outrank other websites. Make sure there is zero plagiarism.:

Microsoft-backed OpenAI has successfully concluded a deal, elevating the valuation of the artificial intelligence company to an impressive $80 billion or more, according to sources cited by the New York Times on Friday, Feb. 16.

The transaction involves the sale of existing shares through a tender offer led by venture firm Thrive Capital. Unlike a conventional funding round aimed at raising capital for business operations, this deal enables employees to cash out their shares, per Reuters. This follows Thrive Capital, Sequoia Capital, Andreessen Horowitz, and K2 Global’s tender offer early last year, which valued OpenAI at $29 billion.

Meanwhile, OpenAI CEO Sam Altman is seeking funding for a semiconductor business to increase global chip-building capacity to enhance AI technologies. According to a Wall Street Journal Report, sources claim the OpenAI CEO is in talks with investors, including the UAE government, to fund a massive tech initiative that would increase chip-building capacity and AI power and cost several trillion dollars. One person estimated the project may take $5 trillion to $7 trillion.

US Court Rejects OpenAI’s ‘GPT’ Trademark Application

This development comes following a setback OpenAI encountered in its pursuit of trademark ‘GPT’ as the US Patent and Trademark Office (PTO) rejected the application, citing the term’s broad and generic nature. TechTimes earlier reported that the recent denial, disclosed discreetly last week, marks a continuing effort by OpenAI to shield the acronym since the introduction of its ChatGPT chatbot in November 2022.

Despite OpenAI contesting the PTO’s position on the descriptiveness of “GPT,” the federal agency remains resolute in refusing the trademark. “GPT” refers to a “generative pre-trained transformer,” denoting a suite of neural network models capable of human-like text and image generation.

OpenAI’s legal representatives argue that the technical nature of the “generative pre-trained transformer” renders it unfamiliar to the general public, emphasizing the ongoing debate over the balance between safeguarding intellectual property and ensuring widespread comprehension of technical terms in the dynamic AI landscape.

Read Also: TikTok Launches Native App for Apple’s Vision Pro Headset, Elevating VR Entertainment

OpenAI Debuts AI-Powered Text-to-Video Generator

Last week, OpenAI introduced Sora, an innovative AI model capable of producing minute-long videos from text prompts. Named after the Japanese word for “sky,” Sora joins the league of text-to-video models alongside companies like Meta and Google, distinguishing itself with the unique capability to generate videos of up to 60 seconds in length.

Introducing Sora, our text-to-video model.

Sora can create videos of up to 60 seconds featuring highly detailed scenes, complex camera motion, and multiple characters with vibrant emotions. https://t.co/7j2JN27M3W

Prompt: “Beautiful, snowy… pic.twitter.com/ruTEWn87vf

— OpenAI (@OpenAI) February 15, 2024

While the technology demonstrates impressive scene generation, public access is temporarily withheld pending thorough evaluations to prevent misuse amid rising concerns over various risks AI-powered tools pose. Professor Oren Etzioni from the University of Washington, who specializes in artificial intelligence and is the founder of True Media, has raised significant concerns, particularly related to the potential impact on closely contested elections. Moreover, there is a broader backlash from artists and creative professionals fearing job displacement due to the widespread adoption of generative AI.

OpenAI, in response to these concerns, underscores its collaboration with experts in misinformation, hateful content, and bias to thoroughly assess the implications of its tool before a public release. Addressing fears of misuse, the tech firm is actively developing detection tools capable of identifying videos generated by Sora and embedding metadata to aid in their identification.

Related Article: UN Urges Tech Giants to Stop Profiting from Toxic Content Fueling Antisemitism, Racism

byline-quincy

ⓒ 2024 TECHTIMES.com All rights reserved. Do not reproduce without permission.

Haley Bennett

I have over 10 years of experience in the cryptocurrency industry and I have been on the list of the top authors on LinkedIn for the past 5 years. I have a wealth of knowledge to share with my readers, and my goal is to help them navigate the ever-changing world of cryptocurrencies.

Health Tags:AI, Artificial Intelligence, Business, chatgpt, Microsoft, OpenAI, Sam Altman

Post navigation

Previous Post: Rephrase the title:Explore one of the oldest Indian city: 10 must-visit places in Patna with friends
Next Post: Rephrase the title:How to watch WPL 2024 opening ceremony? Date, time, venue details and performers

Related Posts

Rephrase the title:Meta’s New XR Headset Unveiled, Reports Claim It Looks like Apple’s Vision Pro Health
AIS Healthcare and Grifols Partner for Joint Study to Enhance Patient Care through Advanced Infusion Care Health
Rephrase the title:Nintendo Switch 2 Leak: GameShark ‘Accidentally’ Reveals Release Date of Upcoming Console—but When Is It? Health
FDA Urgently Warns: 26 Eye Drops Recalled Due to Potential Blindness Risk! Health
Temporary Closure of Hyundai Asan Factory for Construction of an Advanced EV Plant Health
23andMe Genetic Testing Company Confirms Data Breach, 14,000 Customer Accounts and Ancestry Data Accessed by Hackers Health

Recent Posts

  • Robin Open Social-Fi: Revolutionizes Gaming with Innovative Integration and Global Partnerships
  • $GUMMY Set to Launch New Meta On Staking on Solana
  • BinoStake.io: Transforming Crypto Investments On BNB Chain with Liquid Staking Solutions
  • Mocaverse to Develop Decentralized Social Layer
  • Expansion of Web3 Fueled by Hong Kong’s Financial Secretary

Categories

  • Business
  • Cricket
  • Football
  • Health
  • Press Release
  • Technology
  • Web3

About Us

Welcome to TechVibe9, where the rhythm of technology meets innovation! We are a group of tech enthusiasts on a mission to uncover and showcase the latest in the tech world.

Mail Us : support@techvibe9.com

Latest Post

  • Robin Open Social-Fi: Revolutionizes Gaming with Innovative Integration and Global Partnerships
  • $GUMMY Set to Launch New Meta On Staking on Solana
  • BinoStake.io: Transforming Crypto Investments On BNB Chain with Liquid Staking Solutions

Helpful Links

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms & Conditions

Copyright © TechVibe9

Powered by PressBook Masonry Dark