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IBM, Meta launch pro-open source AI Alliance, in partnership with 50 others

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Top stories today:

  1. IBM, Meta launch pro-open source AI Alliance
  2. Mistral AI in final stages of raising $482M at ~$2B valuation
  3. Runway partners with Getty for enterprise AI video models

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. IBM, Meta launch pro-open source AI Alliance, in partnership with 50 others

Our view: NVIDIA, OpenAI, and Anthropic not being included in this is very telling

  • Leaders love closed-source, number 2's love open-source. If you are the dominant leader in a category, being closed-source helps you maximize your profits.

    • If you are not the leader, and especially if the software in question is not your business model (i.e. Meta's case), open source is a way to gather developer and user support around your platform, and hopefully take away market share from the leader.

    • You see this very clearly with iOS vs. Android.

2. Mistral AI in final stages of raising $482M at ~$2B valuation from a16z

  • €325M in equity, with €200M from a16z.

    • €120M in convertible debt from NVIDIA and Salesforce.

    • Each of the 3 co-founders is selling €1M+ in secondary.

  • Company founded in 2023.

Mistral's open-source 7B LLM, and its derivative Zephyr 7B, are the best 7B foundational models today

*Sponsored.

4. Runway partners with Getty Images for enterprise AI video models

  • Baseline video generation models with the possibility of fine-tuning.

  • Targeted at “Hollywood studios, advertising, media, broadcasting, and more.”

  • In private preview, interested parties must contact them.

5. ChatGPT “forever” prompt engineering that revealed training data no longer works

Last week, a Google Deepmind paper showed that ChatGPT’s training data could be extracted by asking it to repeat a word forever

6. Twilio cuts another 5% of workforce, now -37% since Sep. 2022 peak

7. NVIDIA H100 GPU shipments by customers: 2023 estimate

8. Interesting videos, posts, and memes

9. Other headlines

AI

  • Vast Data raises at $9B valuation, from $3.7B in 2021; at $100M+ ARR.

  • AssemblyAI raises $50M Series C to build speech AI models for enterprise.

  • Nous releases open-source vision model, worse than GPT-4V.

  • Gmail updates spam filter with RETVec AI.

  • OpenAI COO Brad Lightcap: interview on ChatGPT, Dev Day.

Tech

  • Zuckerberg sells $185M in Meta stock in Nov., first since Nov. 2021.

  • GTA VI coming in 2025, trailer leaks; GTA V launched in 2013.

  • Five9 looking for sale after failed $14.7B Zoom deal.

  • Messenger, Instagram cross-chatting to be disabled.

  • UK weighs age-gating pornography, ETA 1 year.

  • 23andme confirms hackers stole ancestry data on 6.9M users.

  • IBM's Condor quantum computer has 1K+ qubits.

  • Cybertruck, 2019 proposals vs. 2023 reality.

  • The CEO Report: become a better leader by subscribing, 100% free.*

  • Mercury Magazines: sign up to win a $250 Apple gift card!*

  • Flippa: get a FREE online business valuation.*

  • Danelfin: AI-powered stock-picking tool with up to a 94% win rate.*

*Sponsored.

Tech & law

  • Meta sued for €550M by Spanish media association for unfair competition.

  • Tesla 3 tax credit to fall from $7.5K to $3.75K from Jan.

Biotech

Business

  • Moody's cut China's credit outlook to negative on debt levels.

  • OPEC+ oil production cuts can continue past Q1: Saudi prince.

  • Banks struggle to monitor LinkedIn, Zoom even after $2B in WhatsApp fines.

  • 33% of Gen-Z say best way to achieve wealth is self-employment.

  • Virgin Galactic shares -18% after Branson won't invest more.

Crypto

  • Phoenix, crypto conglomerate, raises $371M in Abu Dhabi IPO.

  • Blur with 69% NFT trading market share in Nov., vs. 23% for OpenSea.

  • Michael Saylor's 175K BTC bet tops $2B in profits.

  • Crypto fund inflow hits $1.76B over 10 weeks, highest since Oct. 2021.

  • CoinDesk's Top 50 most influential.

U.S. politics

  • Treasury launches Counter-Fentanyl Strike Force.

  • Hunter Biden paid father $4K in 2018, attorney says it was for truck.

  • Christie qualifies for Wed's debate, after DeSantis, Haley, and Ramaswamy.

  • Doug Burgum drops out of presidential race.

  • George Santos cameo bought by Fetterman to troll Menendez.

World

  • Israel weighs flooding 800+ Hamas tunnels with seawater.

  • Putin to visit UAE, Saudi Arabia on Wed.

  • Zelensky invited to speak to senators at classified briefing.

  • U.S. discusses task force to guard ships in Red Sea near Yemen.

  • 30K+ Russian convicts who fought with Wagner return to homeland.

  • Plan B Passport: learn how you can obtain one.*

*Sponsored.

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