GIBBI, Today

Oct 30, 2024

Stories:

Elon Musk’s artificial intelligence startup xAI is seeking new funding at a roughly $40 billion valuation, just months after a separate financing for the startup brought in $6 billion
The company’s valuation was $24 billion including dollars raised during its last funding round in May, meaning the latest deal would represent a substantial increase. The money raised in the company’s new round would be added to its $40 billion valuation
Musk has sought to compete with OpenAI, the current AI leader, most recently valued at $157 billion. Musk, a co-founder of OpenAI, broke ranks with the startup and in recent years has criticized its approach to building AI
GIBBI View: One recommendation if you funded or are going to fund an AI company or your company name includes AI, I can guarantee you that you’re going to be funded because we’re in AI boom, so I’m trying to create my own AI Startup to get funded but I’ve not achieved yet

NBA All-Star and Olympic gold medalist Anthony Davis is launching production banner Jakm3n Productions, looking to work on projects across the film, TV and gaming spaces
Jakm3n has set key executives in Arik Burks and Keith Chamberlain as COO and CAO, respectively
The company has also announced that it will co-finance and co-produce Toonz Media Group’s animated feature Pierre the Pigeon-Hawk
GIBBI View: This month I reported that Charles Barkley, Derek Jeter and Rob Gronkowski created their own production companies, so now the athletes and former athletes are investing their money in a best way possible; I’ve predicted that in 5 to 10 years from now we’ll see several athletes to become billionaires

Sony Interactive Entertainment (SIE) has closed Firewalk Studios following the sunsetting of its live services game “Concord” in September. The PlayStation owner has also decided to shutter studio Neon Koi
While PlayStation took “Concord” offline Sept. 6, the company had indicated the possibility that the Firewalk-produced game could return in some form in the future. PlayStation’s decision to shut down Firewalk comes just over a year and a half after acquiring the studio
These studio closures come five months after Hulst and Hideaki Nishino took over as CEOs of PlayStation and on the heels of Sony’s studio Bungie laying off more than 200 employees in August
GIBBI View: This is something normal when you signed new CEOs in your company because they want to implement their “vision” and want to bring their talent to improve the company

Actor and director Olivia Wilde, famous for in “Tron: Legacy” and “Don’t Worry Darling,” quietly launched venture firm Proximity Ventures late last year
She launched the early- and growth-stage investment fund with Neil Sirni, formerly of Roc Nation’s venture division Arrive; Jason Mack, formerly of Mack Ventures; and Santi White, the musician also known as Santigold
The firm plans to invest in companies that are in the consumer and enterprise sectors. The firm has already inked four investments, including Pendulum Therapeutics, a biotech company
GIBBI View: Like the athletes now the actors and singers are investing in a better way their money and famous people like Rihana and Ryan Reynolds funded their own companies and created their own investment firms and now they’re billionaries, so sooner than later we’ll see athletes and/or actors/singers as the wealthiest people in the world

OpenAI is reportedly working with TSMC and Broadcom to build an in-house AI chip — and beginning to use AMD chips alongside Nvidia’s to train its AI
OpenAI has — at least for now — abandoned plans to establish a network of factories for chip manufacturing. Instead, the company will focus on in-house chip design
OpenAI has for months been working with Broadcom to create an AI chip for running models, which could arrive as soon as 2026
GIBBI View: Yesterday I reported that Meta was developing its own AI Search Engine and now OpenAI is planning to build its first AI Chip, so these two news make me think that both companies are trying to diversify and are creating their own super-app, so my prediction is that in 5 to 10 years from now we’ll see several super-app that will be created and dominated for tech companies (Amazon, Tesla, Apple, Meta, Google, etc)

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