Entrepreneur Elon Musk is preparing to launch a startup that will compete with Openai, the creator of Chatgpt, a media report unveiled. According to quoted knowledgeable sources, the owner of Twitter and Tesla is already assembling a team of developers and talking to investors.
Tech investor Elon Musk is putting effort into founding a startup that will rival the company behind the Chatgpt artificial intelligence (AI) assistant, Openai, the Financial Times revealed on Friday, citing people familiar with the billionaire’s intentions.
The publication claims Musk is now recruiting AI engineers while also holding talks with some investors in Spacex and Tesla, two of his best known business enterprises along with Twitter, about backing the new venture, Reuters quoted the report.
Companies like Microsoft-funded Openai and Google’s parent, Alphabet, have been working to incorporate AI into their offerings despite calls from regulators to introduce comprehensive rules for the technology before its widely implemented.
The news of Musk’s new plan comes weeks after a group of AI researchers and executives, including himself, urged for a six-month pause in developing systems more powerful than Openai’s latest GPT-4 model, warning about potential risks to society.
In fact, Elon Musk was one of the founders of Openai, launched as a non-profit in 2015, and initially co-chaired it. The investor stepped from its board in 2018. In March 2023, he registered a company called X.AI Corp in Nevada, although it’s unclear if the firm is linked to the reported efforts.
The Financial Times also wrote that the entrepreneur has secured thousands of graphics processing units (GPUs) from chip manufacturer Nvidia. The hardware is need to power AI applications. Last month, Nvidia’s chief technology officer was quoted as saying that artificial intelligence is more useful than cryptocurrency mining.
Do you think Elon Musk is preparing to establish an AI-focused startup? Tell us in the comments section below.
Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
Entrepreneur Elon Musk is preparing to launch a startup that will compete with Openai, the creator of Chatgpt, a media report unveiled. According to quoted knowledgeable sources, the owner of Twitter and Tesla is already assembling a team of developers and talking to investors.
Tech investor Elon Musk is putting effort into founding a startup that will rival the company behind the Chatgpt artificial intelligence (AI) assistant, Openai, the Financial Times revealed on Friday, citing people familiar with the billionaire’s intentions.
The publication claims Musk is now recruiting AI engineers while also holding talks with some investors in Spacex and Tesla, two of his best known business enterprises along with Twitter, about backing the new venture, Reuters quoted the report.
Companies like Microsoft-funded Openai and Google’s parent, Alphabet, have been working to incorporate AI into their offerings despite calls from regulators to introduce comprehensive rules for the technology before its widely implemented.
The news of Musk’s new plan comes weeks after a group of AI researchers and executives, including himself, urged for a six-month pause in developing systems more powerful than Openai’s latest GPT-4 model, warning about potential risks to society.
In fact, Elon Musk was one of the founders of Openai, launched as a non-profit in 2015, and initially co-chaired it. The investor stepped from its board in 2018. In March 2023, he registered a company called X.AI Corp in Nevada, although it’s unclear if the firm is linked to the reported efforts.
The Financial Times also wrote that the entrepreneur has secured thousands of graphics processing units (GPUs) from chip manufacturer Nvidia. The hardware is need to power AI applications. Last month, Nvidia’s chief technology officer was quoted as saying that artificial intelligence is more useful than cryptocurrency mining.
Do you think Elon Musk is preparing to establish an AI-focused startup? Tell us in the comments section below.
Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Following the Shapella hard fork on April 12, 2023, approximately 332,368 ether, valued at around $699 million, has been withdrawn. Despite these withdrawals, liquid staking protocols like Lido, Rocketpool, and others have experienced an increase in ether deposits over the last 30 days. Since March 14, a total of 281,498 ether worth $592 million have been added to these protocols.
As of April 15, 2023, there’s $53.68 billion total value locked (TVL) across various decentralized finance (defi) protocols. Around $16.96 billion or 31% of today’s defi TVL is in staked ether. Lido’s TVL stands at approximately $12.74 billion, accounting for 23.74% of defi’s locked value. The rising price of ethereum (ETH), above the $2,100 per unit range, along with deposits into ETH-based liquid staking protocols have contributed to an increase in value for these platforms.
For instance, Lido’s TVL has grown by 18.02% over the past 30 days; Coinbase’s liquid staking protocol has risen by 16.51% within the same period. Rocketpool’s TVL has surged by 22.48%, while Stakewise has expanded by 15.83%. Archive data from March 14, 2023, shows that 7,749,372 ETH were locked in liquid staking platforms; as of April 15, that number is up to 8,030,870 ETH – an addition of 281,498 ether in just one month.
Simultaneously, since the Shapella hard fork integration, a total of 332,368 ether has been withdrawn from the validator queue. Current pending withdrawals account for about 1.48 million ether worth of funds. The annual percentage rate (APR) for staking ETH currently sits at around 4.98% today. Presently, the Beacon chain contract holds 18,386,887 ETH, valued at $38.67 billion.
Approximately 81% of ETH validators have updated their withdrawal addresses, while 18.5% have not, as per Nansen statistics. The three entities with the highest number of withdrawals are Kraken, Binance, and Coinbase. It is speculated that Kraken and Coinbase have initiated a large portion of these withdrawals due to issues with U.S. regulators concerning liquid staking protocols.
What do you think the future holds for liquid staking protocols? Will their growth continue or will regulatory concerns and market volatility impact their popularity in the months to come? Share your thoughts in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
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