🗞️ Altman's next move

June 17, 2024   |   Read Online Brought to you by: Nebius AI Top stories today: Altman explores converting OpenAI into PBC Snowden criticizes OpenAI for adding former NSA head to board AI VC fundraising on track to be stable in Q2, with seed slowing down India set to become primary location in Asia for data centers Follow us on X | Instagram | Advertise to our 250K+ subscribers 0. Data and calendar All values as of 5 AM ET / 2 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT). All times are ET. 1. Altman explores converting OpenAI into PBC, as Microsoft execs agree OpenAI's legal structure. xAI and Anthropic already are Public Benefit Corporations, which can have side goals other than just profits. OpenAI board would have to agree, and the move would certainly attract the eyes of regulators and the IRS. "Some senior Microsoft executives" have been pushing for the move for years. Today, Microsoft is only a board observer, having no voting power over OpenAI. 2. Snowden criticizes OpenAI for adding former NSA head to board X: Edward Snowden. 3. Get up to 8 NVIDIA® H100, L40S, and V100 GPUs, CPU, and storage resources in minutes with Nebius AI.* Nebius AI. From 1 to 8 NVIDIA® H100, L40S, and V100 GPUs available via a self-service console User-friendly web console Resource management via API, CLI, Terraform, and VM access via SSH 24/7 technical support Detailed documentation Need more than 8 GPUs? Contact the Nebius AI sales team for the best offer. Learn more. *Sponsored. 4. AI VC fundraising on track to be stable in Q2, with seed slowing down $11.4B invested in 604 deals so far in Q2: Crunchbase. Seed/angel AI funding is running at $0.9B over 423 deals, vs. $1.5B and 956 deals in Q2 2023 Crunchbase. 5. India set to become primary location in Asia for data centers for Big Tech FT. Amazon, Microsoft, and Google are investing the most in new data centers FT. 6. TSMC ADRs trading at 21% premium to Taiwanese shares, as arbitrage trade fails Bloomberg. ADR is more accessible to foreign investors and included in many indexes and ETFs. Taiwan shares need special regulatory approval to be converted into the U.S. ADRs. 7. 52% in U.S. very uncomfortable with news being produced mostly by AI But 42% are comfortable with AI helping humans: Reuters Institute 2024 Digital News Report. Question for our readers: what do you think? Reply to this email and let us know. 8. Hong Kong, Singapore, 4 Swiss cities, NYC, London lead as most expensive cities Mercer's 2024 Cost of Living Survey. 9. Companies remain divided on office work policies WSJ. 10. Interesting videos, posts, and memes Elon gets paid, Apple's AI pop, OpenAI revenue rip, Macro debate & Inside Trump Fundraiser 11. Other headlines AI Apple Intelligence's features to be launched through 2025. Microsoft's Suleyman looking into OpenAI's code. Sakana AI in talks to raise $100M at $1B, pre-revenue. Athyna: hire incredible global talent with up to 80% savings vs. U.S. hires.* Nebius AI: Fight for the best price on your H100 GPU cluster.* *Sponsored. Disclaimer: Bay Area Times is a partner and user of Athyna. Tech Siri can be given new name in iOS 18. Bill Gates: ready to invest $B's into nuclear energy. Axios Pro: Deals Tracker does smarter analysis across VC, PE and M&A.* *Sponsored. Tech & law Apple, Meta likely to face charges over EU's Digital Markets Act. Meta pauses AI models launch in Europe after request by Irish regulator. Biotech Ozempic fueling purchase of smaller clothes. Communicable diseases significantly rising vs. 2019. Lethal bacteria STSS reaches 977 cases in Japan in 2024. Business China's real estate investment, home prices decline. Fed's Kashkari: if rate cut happens this year, it will be near year-end. Delaware biggest loser in Tesla's shareholder vote: WSJ. Crypto Gemini to pay $50M to settle NY fraud claims. Nigeria drops tax charge vs. Binance execs, other charges remain. VC funding in crypto hits $101B since 2014. Uniswap: simple, secure and lightning-fast swapping with the Uniswap web app.* *Sponsored. U.S. politics Corporate taxes: GOP wants to cut to 15-20%, Dems increase it to 28%. Biden team launches $50M pre-debate ad campaign. World Gaza doctor, journalist were housing Israeli hostages. Israeli army to pause some fighting in southern Gaza to help aid flow. Israel warns of "wider escalation" due to "Hezbollah's increasing agression." Houthis continue to use drones to attack ships in Red Sea. Ukraine, Russia close to peace deal in Apr. 2022: details. 8 IDF soldiers dead in Rafah in explosion. Was this newsletter forwarded to you? Sign up here. Liked it? Forward it to friends and get rewards (see below). Share Bay Area Times Share our newsletter with your friends and get free Bay Area Times rewards! 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