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- 🤖 GPT-4 for Everybody, 🐦 Twitter vs. Threads (legal), ☁️ Cloud Market Surge
🤖 GPT-4 for Everybody, 🐦 Twitter vs. Threads (legal), ☁️ Cloud Market Surge
OpenAI has released its GPT-4 model, an advanced text-generating AI, accessible via its paid API.
Kristoffer Lindström
July 07, 2023
Hello and greetings!
Here are today’s main headlines:
OpenAI Launches GPT-4 to Developers
Twitter vs. Meta Legal Battle Looms
Google Proposes Robots.txt for AI
Microsoft Eyes $3 Trillion Valuation
Cloud Market Surges Beyond $500B
and more...
🌐 Tech Companies
Twitter threatens to sue Meta, Instagram's parent company, over alleged intellectual property misappropriation for the new text-based social platform, Threads. Twitter claims Meta hired ex-Twitter employees, using their knowledge to create a competing app, thereby infringing on Twitter's trade secrets.
EU regulators have launched an official investigation into Amazon's proposed $1.7 billion acquisition of iRobot, the popular Roomba vacuum cleaners manufacturer. Concerns include potential competition restriction in the robot vacuum market and potential misuse of user data to Amazon's advantage in online marketplace services.
TikTok is venturing into music streaming with 'TikTok Music,' launched in Brazil and Indonesia, featuring comprehensive catalogs from major record companies and numerous user features.
Uber, DoorDash, and Grubhub are suing New York City over newly introduced minimum pay standards for food delivery workers. The companies claim regulators used flawed data to devise these rules, which require approximately $18 per hour of active delivery time, set to increase to $20 by 2025. They argue the higher wages will force them to hike prices, adversely affecting local restaurants and delivery personnel.
🚀 Startup Scene
SoftBank has invested $170 million in Japanese robotics company Telexistence as part of a Series B funding round. Telexistence, which creates AI-driven robotic arms for the retail and logistics sector, will utilize the capital to strengthen its global workforce. Along with the investment, a strategic partnership with SoftBank Robotic Group has been announced to enhance commercialization in North America.
🤖 AI Corner
OpenAI has released its GPT-4 model, an advanced text-generating AI, accessible via its paid API. This new model can process both text and image inputs, an upgrade from its predecessor GPT-3.5. Although the image understanding capability is currently limited to selected partners, OpenAI plans to extend this feature to all its users in the future.
Google is advocating for a machine-readable control mechanism akin to robots.txt, tailored for AI and research purposes. This initiative would give web publishers more control over their content. Google is inviting web publishers, academia, and civil society from around the globe to participate in discussions regarding creating such a standard.
Insight: We see this as an industry-wide move. Google's proposal for a new web standard could reshape the manner in which AI models are trained, promoting a more ethical and controlled use of online content, and potentially influencing AI advancement at large.
Novelists Paul Tremblay and Mona Awad have filed a lawsuit against OpenAI, alleging that the AI company used their copyrighted books for training its ChatGPT model without permission.
💰´Markets & Money
Stocks saw a significant downturn following the revelation of a heated labor market, fueling investor fears of prolonged Federal Reserve rate hikes. The Dow alone dropped 366 points, marking its biggest one-day decline since May.
June's private payroll data overshoots estimates with a 497,000-job gain, indicating potential further Federal Reserve rate hikes, causing stock market anxiety.
DigitalOcean, a cloud hosting company, is set to acquire AI development startup Paperspace for $111 million, enhancing its services with advanced AI tooling.
Morgan Stanley anticipates a 22% increase in Microsoft's value as the company leverages generative AI, positioning for a $3 trillion valuation.
💡Insights & Analysis
In 2022, worldwide revenue for public cloud services hit $545.8 billion, a 22.9% increase from 2021, according to the IDC. SaaS - Applications maintained its lead as the biggest source of revenue, and the top five providers, Microsoft, AWS, Salesforce, Google, and Oracle, accounted for 41% of the total, exhibiting 27.3% YoY growth.
Public markets shifted their valuation focus from growth to profitability in SaaS companies in 2022, significantly increasing the valuation of such companies. Top quartile firms are primarily valued on revenue growth, whereas bottom quartile companies are valued more on cash efficiency metrics, necessitating efficient growth.
⚡ Quick links
YouTube is testing a new lock screen feature for Premium users to avoid accidental video disruptions.
Apple plans an appointment-only rollout for its $3,500 Vision Pro mixed-reality headset in select US markets next year, with in-store demos and fitting tools for buyers.
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