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:

• Big Tech Eyes OpenAI

• Microsoft Unveils Powerful New AI Models

• Google Launches Advanced AI Image Generator

• Amazon Revamps Alexa with Anthropic’s Claude AI

• And more AI news….

Top Developments

OpenAI

Big Tech Eyes OpenAI in $100 Billion Funding Frenzy

The Gist: Nvidia, Apple, and Microsoft are all considering investing in OpenAI's latest funding round, highlighting the AI startup's critical role in the tech industry. The round could value OpenAI at over $100 billion.

Key Details:

• Nvidia is discussing a $100 million investment in OpenAI, while Thrive Capital plans to lead the round with $1 billion.

• Apple is incorporating OpenAI’s tech into its products, including a new AI suite for iPhones, while Microsoft has already invested $13 billion in the startup.

• The funding would allow OpenAI to expand its computing power and cover operational costs, further fueling its rapid growth.

Microsoft

Microsoft Unveils Powerful New AI Models

The Gist: Microsoft just dropped three open-source AI models in its Phi-3.5 series, giving developers powerful tools for tasks like reasoning, multilingual processing, and image analysis—all under a user-friendly MIT license.

Key Details:

• The Phi-3.5-mini-instruct model is compact yet powerful, optimized for quick reasoning tasks and outshining larger models in benchmarks.

• The Phi-3.5-MoE-instruct model uses a mixture-of-experts architecture, allowing it to tackle complex reasoning by activating relevant parameters as needed.

• The Phi-3.5-vision-instruct model combines text and image processing, excelling in tasks like image understanding and video summarization with a high context length.

Google

Google Launches Advanced AI Image Generator on Gemini

The Gist: Google Gemini just launched two exciting features: "Gems," which lets users create their own personalized AI experts, and "Imagen 3," a cutting-edge image generation model. These additions promise to help users tackle tasks more efficiently and creatively.

Key Details:

• Gems allows users to customize their AI experiences for any field, like coding or career advice, by providing instructions and naming their AI expert.

• Available on desktop and mobile, Gems can be accessed in over 150 countries and most languages.

• Imagen 3 boosts image generation with improved performance and built-in safeguards, including watermarks for AI images.

• Strict ethical guidelines ensure that no identifiable individuals or inappropriate content can be generated.

Quick Gist

Infosys has expanded its collaboration with NVIDIA to leverage AI-powered solutions through Infosys Topaz, aimed at enhancing telco customer experiences, streamlining operations, and accelerating service delivery (Read More).

Safran has acquired AI firm Preligens for 220 million euros, integrating it into Safran Electronics & Defense to enhance AI applications in aerospace, defense, and space sectors (Read More).

KBS is launching Korea's first radio program hosted by an AI DJ named 'Xenique,' which will air daily starting Tuesday on KBS CoolFM (Read More).

Amazon is revamping Alexa with Anthropic's Claude AI to enhance its capabilities and compete with ChatGPT, introducing a paid subscription model that includes new tasks like sending emails and ordering dinner (Read More).

Meta's Llama family of large language models has achieved over 350 million downloads, with a ten-fold increase year-on-year, driven by the recent release of Llama 3.1 and an expanding network of hosting and distribution partners (Read More).

Oprah Winfrey will host a special on ABC and Hulu titled "AI and the Future of Us," airing on September 12, featuring discussions with AI leaders about the technology's impact on society, jobs, and ethical concerns (Read More).

Google has expanded its AI-powered Q&A feature, powered by Gemini, to the Gmail app on Android, allowing users to efficiently search their inbox with specific queries (Read More).

Coinbase CEO Brian Armstrong announced the successful completion of the first crypto transaction entirely managed by AI agents, showcasing the potential for AI to autonomously execute financial transactions and participate in economic activities using crypto wallets (Read More).

Google is developing new features for Android Auto, including the ability to control car radio stations and support for local media, alongside hints of integrating Gemini Live for enhanced voice interactions (Read More).

THAT’S IT FOR TODAY!