GPT-4 Turbo, lower prices, custom GPTs announced at OpenAI's DevDay
Bay Area Times
November 07, 2023
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Top stories today:
- GPT-4 Turbo, lower prices, custom GPTs announced
- WeWork files for bankruptcy in U.S., Canada
- SpaceX's revenue expected at $9B in 2023, $15B in 2024
- Israel may take security responsibility of Gaza post-war
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0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 close (4 PM ET / 1 PM PT).
All times are ET.
1. GPT-4 Turbo, lower prices, custom GPTs announced at OpenAI's DevDay
Pricing for OpenAI's APIs was cut across the board:
GPT-4 Turbo has a 128K context window, vs. 8K and 32K of GPT-4 and 100K of Anthropic's Claude-2.
Trained on information until April 2023, vs. Sep. 2021 of GPT-4.
Available in preview, rollout over the next few weeks.
The new Assistants API will help developers build AI agents within their apps.
100M weekly active users (WAUs) are on ChatGPT.
OpenAI is promising to defend clients against copyright lawsuits in what it's calling Copyright Shield.
DALL-E 3 and new text-to-speech APIs were also announced.
GPT Builder allows anyone to create their own chatbots
A GPT App Store will be available soon, and creators will get paid everytime someone uses their GPT
Our view: OpenAI is killing startups and expanding its moat
Like Apple, OpenAI is launching features and killing startups at the same time. Be careful building products that are mere features of OpenAI's products.
The GPT App Store brings further gains of scale/networks effects to ChatGPT, enhancing OpenAI's moat over its competitors.
Watch OpenAI's DevDay Keynote
2. WeWork files for bankruptcy in U.S., Canada
Once valued at $47B, the stock was -99.8% from its 2021 high, before being halted:
92% of secured noteholders agreed to convert their $3B in debt into equity.
Equity holders will likely being wiped out.
$13B in lease obligations will be renegotiated.
WeWork had been trying to reduce leases, but never managed to reach profitability
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4. SpaceX's revenue expected at $9B in 2023, $15B in 2024
Forward P/S of 10, based on the most recent valuation of $150B.
5. Israel may take security responsibility of Gaza post-war, says Netanyahu, as Gaza City surrounding continues
Netanyahu: Israel may have security responsibility of Gaza post-war.
U.S. plans $320M in precision weapons transfer to Israel.
Blinken arrives in Tokyo for G-7 meeting focused on war.
Iran's president to attend Gaza summit in Saudi Arabia.
“Tactical little pauses” to be considered by Israel.
6. Interesting videos, posts, and memes
7. Other headlines
AI
Intel in lead to receive $3B-$4B for Chips Act microchips facilities.
YouTube will test AI comment summarizer, conversational tool.
GM halts production of Cruise driverless van.
Meta bars political advertisers from using gen AI ads tools.
Flipkart founder to launch AI-as-a-service startup.
Aleph Alpha raising $500M Series B from Lidl owner, others.
Tech
Shein targets $90B valuation in U.S. IPO.
Replit receives $20M investment from Craft Ventures.
Instagram crosses 1M paid subscriptions to creators.
Bumble CEO Whitney Herd to step down, replaced by Slack CEO.
X CEO Yaccarino goes after video deals with NFL, NBA, others.
iMac 27” not in plans for Apple.
Klarna revenue +30% to $0.55B in Q3.
Sportradar: NBA player tracking measures usage like never before.*
Sidebar is a leadership program that accelerates your career.*
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Tech & law
Airbnb gets $835M seized by Italy for allegedly not paying taxes.
Epic v. Google: 1st day of trial.
Biotech
Longevity: WaPo profiles the industry.
Marijuana use correlated with heart attack, failure.
Neuralink: a detailed look at Elon's brain implant startup.
Mogling Bio gets funding from Kizoo for CDC42 rejuvenation tech.
Business
Saudi Aramco's net profit -23% to $32.6B in Q3.
FOMC's Kashkari not convinced rate hikes are over.
China outspending U.S. in loans to other countries by 30%.
Music copyright globally +14% to $41.5B in 2022.
Citadel: 100K college applications for 300 positions.
Crypto
U.S. politics
Election day: what to watch for.
Senate GOP wants border security measures tied to Ukraine aid.
Trump testifies in NY fraud trial.
DOJ: Trump's belief that election was stolen not relevant.
Some Democrats worry about Trump's lead in polls.
World
China acquires global network of ports.
Putin to run in March 2024 presidential election with little opposition.
Zelensky: “irresponsible” to hold elections during wartime.
Plan B Passport: learn how you can obtain one.*
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