AI Investing Frenzy Continues. Over $1.8B Invested In Just One Week.
Startup with Backing from Tech Titans Gates and Schmidt Raises $1.3 Billion.
This is The Copilot - we are the AI newsletter that founders, funders, and everyone in between reads.
It is Thursday, July 6, and we have seven fascinating topics to cover.
💸 AI Money Flow - Venture Funding Insights
🤯 The Impact Number
✅ Question of The Week
🧐 Weekly Highlights
💰A Product Idea Worth Thinking About
🌶️ The Social Buzz - Politicians Cheating on Their Wives (AI-Generated)
💸 AI Money Trail - Venture Funding Insights
June 29 - July 5
Over $1.8 billion is invested in AI startups in just one week.
Runway ML closed a $141 million funding round to continue building “text-to-video” AI models.
Try out their Gen-2 Model to create video scenes with text prompts.
See the short 1-minute video by Runway ML:
The real winner this week was - Inflection AI for closing a monster $1.3 billion funding round.
Inflection AI is building a personal AI for everyone - Pi. Create your own AI and play with it here.
Bill Gates and Eric Schmidt are investors in Inflection AI, which is co-founded by:
Mustafa Suleyman, co-founder of DeepMind (acquired by Google).
Reid Hoffman, co-founder of LinkedIn and partner at Greylock.
Karén Simonyan, previously principal scientist at DeepMind.
Inflection AI is building the largest AI training cluster in the world with 22,000 Nvidia H100 GPUs.
🤯 The Impact Number
The total number of MidJourney users.
1.5 Million to 2.5 Million users are active at any given time, generating images.
Another fun fact → Midjourney is bootstrapped team of 11 people. It has not raised any venture funding, and the only way to interact with Midjourney is via Discord.
For those who don’t know, Midjourney is the popular AI software that creates realistic images based on text descriptions or prompts. Below is a Midjourney image of an angry Dalai Lama looking at the current world situation.
🗳️ Last Week’s Poll
✅ Question of The Week
Please vote to see the result in next week’s issue.
AI For Good
If AI could significantly advance progress in one of two fields, which should it prioritize?
🧐 The Highlights
OpenAI Creates a New Team To Control Superintelligent AI. Led by Ilya Sutskever and Jan Leike, the new team will have access to 20% of the compute the company has secured to enable superintelligence alignment. (Read More)
MIT Educates National Security Leaders on Artificial Intelligence. The three-day course brought leaders from every branch of the U.S. military and foreign military leaders from NATO. (Read More)
AI is Taking Over Coding Tasks Faster Than Anyone Expects. According to Emad Mostaque, Stability AI CEO, 41% of all code on Github is AI-generated right now. Mostaque predicts, “There will be no programmers in five years.” (Read More)
The United Nations Security Council To Discuss AI’s Impact on World Peace. The UN Security Council will hold a first-ever meeting on July 18 on the potential threats of artificial intelligence to international peace and security. (Read More)
ZenPrompts releases a free and sophisticated prompt design and engineering tool. The tool lets users compare prompts across multiple GPT models, create a prompt portfolio to share their prompts, and more.
UT Austin Researchers Create Mind Reading AI
💰 A Product Idea Worth Thinking About - ChatGPT Personal Finance
An app that connects with a user’s credit card and bank accounts (easily done with Plaid), analyzes spend, vendors, buying patterns, etc., then recommends alternate merchants to save cost or improve quality/experience, provides targetted discounts, and shares other spend optimization or credit card reward maximization techniques using ChatGPT or similar large language models.
Personal finance software is a $1.7B category. The availability of large language models gives product builders an opportunity to infuse intelligence into the category.
ChatGPT Personal Finance
🌶️ The Social Buzz
An AI disinfo campaign just before election day, could definitely swing an election. The right AI images or video at the right time could tank the market, cause a riot, or send someone into a pizza shop with a gun
Chris Christie cheating on his wife:
— JustinTBrown (@JuuustinBrown)
May 26, 2023
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That’s it for this week. See you again next week.