Welcome to Get The Gist, where every weekday we share an easy-to-read summary of the latest and greatest developments in AI—news, innovations, and trends—all delivered in under 5 minutes! ⏱

In today’s edition:

• Adobe Previews New Firefly AI Video Model

• OpenAI's Jaw-Dropping $150 Billion Valuation and New AI Model

• Oracle Launches World’s First Zettascale Cloud Computing Super Clusters

• Meta Faces Backlash in Australia and India

• And more AI news….

Top Developments

Adobe

Adobe Previews New Firefly AI Video Model

The Gist: Adobe has introduced the Firefly Video Model, a new tool that enhances video creation with AI, designed to be user-friendly and ethically sourced while offering impressive quality. It aims to streamline workflow for video editors and creators, making it easier to produce captivating content.

Key Details:

• Firefly Video allows text-to-video and image-to-video capabilities, delivering high-quality clips in under two minutes.

• Despite its promise, some Adobe Stock creators are concerned about having their work used in AI generations without full consent.

• The model not only generates videos but also includes AI editing features for tasks like removing unwanted objects and smoothing transitions.

• A standout feature, Generative Extend, helps match video cuts to audio, ensuring seamless edits for enhanced storytelling.

OpenAI

OpenAI's Jaw-Dropping $150 Billion Valuation and New AI Model

The Gist: OpenAI is making headlines with its bid to raise $6.5 billion, driving its valuation to a jaw-dropping $150 billion, while also hinting at an exciting new AI model set to launch soon.

Key Details:

• Thrive Capital is set to lead the investment round, with Microsoft expected to contribute funds as well.

• Other potential investors mentioned include tech giants Apple and Nvidia.

• OpenAI is negotiating a $5 billion debt deal to enhance its financial flexibility.

• The company’s ChatGPT continues to gain popularity, boasting 200 million weekly users as of late August.

Oracle

Oracle's AI Superclusters: A Game Changer for Cloud Computing

The Gist: Oracle has launched the world’s first zettascale cloud computing clusters powered by NVIDIA, offering unmatched performance capabilities for businesses tackling massive AI workloads. This innovation redefines what’s possible in AI computing and sets Oracle apart in the cloud race.

Key Details:

• Oracle's new infrastructure features up to 131,072 NVIDIA GPUs, providing a staggering 2.4 zettaFLOPS of processing power.

• This development is crucial for advanced AI research, especially in industries like healthcare, ensuring data sovereignty.

• With a partnership with OpenAI, Oracle is positioned as the go-to platform for cutting-edge AI innovations and model training.

• The collaboration with AWS now enables Oracle Database services on AWS infrastructure, offering customers more flexible options.

Quick Gist

Gems, a tool for creating custom experts for Gemini, has launched on mobile alongside a redesign of the Gemini homepage to simplify user interaction, reflecting ongoing updates and improvements in Google's generative AI technology (Read More).

Microsoft and NVIDIA have collaborated to introduce Azure Confidential VMs with NVIDIA H100 GPUs, providing an innovative security platform for AI workloads that safeguards sensitive data and models through comprehensive end-to-end protections (Read More).

Two Italian ice cream makers are creatively leveraging AI technology in their business while emphasizing the continued importance of their traditional craftsmanship in dessert creation (Read More).

A study presented at the 2024 World Conference on Lung Cancer demonstrates that Qure.ai's AI-powered qXR system can detect lung cancer nodules up to three years before symptoms arise, potentially improving early diagnosis and patient survival rates (Read More).

Meta is facing backlash in Australia and India for scraping public posts on Facebook and Instagram to train its AI model without user consent, prompting calls for stronger privacy protections and an opt-out option similar to that offered in the European Union (Read More).

Ireland's Data Protection Commission has launched an investigation into Google’s AI development to determine if the company violated EU data privacy regulations regarding the processing of personal data (Read More).

THAT’S IT FOR TODAY!