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Tuesday, January 2, 2024

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TECHPRESSO

OpenAI's revenues soared 5,700% last year

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Good morning! This is your daily ☕️ Techpresso.


On this day, 20 years ago, NASA's Stardust spacecraft soared past Comet Wild 2, capturing precious samples that were later delivered back to our planet.


In today's Techpresso:

📈 OpenAI's revenues soared 5,700% last year

🔒 US pressured Netherlands to block chipmaking machine shipments

🚗 Tesla's record year

🧬 We are about to enter the golden age of gene therapy

🎓 Nobel prize winner cautions on rush into STEM after rise of AI

🎁 + 8 other news you might like

🔮 + 6 handpicked research papers and tools

📈 OpenAI's revenues soared 5,700% last yearLINK

  • OpenAI's annualized revenue increased by 20% in two months, reaching over $1.6 billion despite CEO Sam Altman's brief firing and reinstatement.
  • The company's strong financial performance includes a significant year-over-year growth from $28 million to $1.6 billion in annual revenue.
  • OpenAI is planning to raise more funding, aiming for a $100 billion valuation, and is exploring custom chip production with a potential initial funding of $8-$10 billion.

    • 🔒 US pressured Netherlands to block chipmaking machine shipmentsLINK

  • The US asked ASML to halt some chipmaking machine shipments to China before a January 2024 ban after revelation that China used their tech in Huawei's processors.
  • ASML, known for its advanced lithography machines, was allowed to sell less advanced DUV (deep ultraviolet) machines to China until the end of 2023, but not the cutting-edge EUV (extreme ultraviolet) machines.
  • While ASML is facing restrictions, Nvidia apparently figured out a way to go around the US export restrictions on China by releasing a nerfed version of its GPUs.

    • 🚗 Tesla's record yearLINK

  • Tesla surpassed its annual target by delivering 1.81 million electric vehicles in 2023, slightly over the 1.8 million goal.
  • Most of Tesla's sales were thanks to its Model 3 and Model Y, which made up more than 96% of its total vehicle production and deliveries.
  • Despite competition, Tesla's performance in the Chinese market contributed significantly to its record year, even as the company faced challenges like factory shutdowns and reduced profit margins.

    • 🧬 We are about to enter the golden age of gene therapyLINK

  • Gene therapy advancements have led to the FDA-approved CRISPR-based treatment Casgevy for blood disorders, signaling increased potential for treating various genetic conditions.
  • Future gene editing tools aim to increase precision and reduce risks, with techniques such as base and prime editing being developed as alternatives to CRISPR-Cas9.
  • Cost and ethical considerations pose challenges to the widespread adoption of gene therapies, despite the promising future and potential benefits of these treatments.

    • 🎓 Nobel prize winner cautions on rush into STEM after rise of AILINK

  • Nobel laureate Christopher Pissarides warned that focusing heavily on STEM subjects could lead to skills that AI will soon perform.
  • Jobs with "empathetic" skills, like those in hospitality and healthcare, are expected to remain in demand despite AI advancements.
  • Pissarides suggested valuing personal care and social relationship jobs, rather than looking down on them.

    • Other news you might like

    Fidelity reduces its valuation of Musk's Twitter by 11%, as advertiser pullout from the platform impacts projected 2023 ad sales revenue.LINK

    Brad Smith commended the UK's CMA as "tough and fair" after Microsoft revised the Activision Blizzard deal, securing approval despite initial resistance and harsh criticism.LINK

    In California, self-driving cars can't get moving violation tickets, sparking calls for updated laws and better regulation.LINK

    Apple may have to enable iPhone sideloading in the US, as global regulatory pressures mount.LINK

    Humane's AI Pin now boasts water resistance, enduring sweat and light rain, after thorough durability testing.LINK

    Bitcoin surges above $45,000, reaching a 21-month high, spurred by optimism for a potential U.S. spot bitcoin ETF approval.LINK

    HSBC is launching the Zing app to compete in international payments, targeting both HSBC and non-HSBC customers, expanding beyond the UK soon.LINK

    Baidu dropped its $3.6 billion acquisition of YY Live due to unmet regulatory approvals, seeking to diversify beyond search amid stiff competition and modest revenue growth.LINK

    Latest research and tools

    Mathematical Introduction to Deep Learning: Methods, Implementations, and Theory: the paper explains the mathematical concepts behind deep learning, how they're put into practice, and the underlying theories.LINK

    uBlacklist: an easy-to-use browser extension that lets you block specific websites from showing up in your Google search results, with options for syncing and subscribing to shared blocklists.LINK

    Fish shell 3.7.0: a command-line shell that has enhanced its history features, improved performance, introduced multi-key sequence timeout settings, and made numerous bug fixes in its last update before a planned rewrite in Rust.LINK

    Zig cookbook: a resource providing examples of common programming tasks in Zig to help developers write better code.LINK

    Hook: a tool that lets you edit and tweak your C/C++ program while it's running, helping you experiment faster without recompiling every time.LINK

    Framework for identification of chaotic systems with symbolic regression: the paper presents a method for recognizing chaotic systems using a type of equation-based model-finding.LINK


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