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:

• Sam Altman Set to Receive $10.5 Billion OpenAI Share

• Top Executives, Including CTO Mira Murati, Leave OpenAI

• Meta Launches its AI-Packed Orion AR Glasses

• Anthropic Unveiles Contextual Retrieval

• And more AI news….

Top Developments

OpenAI

OpenAI CEO Sam Altman Poised for $10.5 Billion Payday!

The Gist: OpenAI is changing its structure from a nonprofit to a for-profit model to attract investors, which could lead to a future IPO and a massive financial gain for CEO Sam Altman.

Key Details:

• OpenAI plans to transition under a new structure while maintaining a minority stake for its current nonprofit board.

• The company is targeting a $150 billion valuation, which hinges on this shift.

• Altman's potential stake in the new entity could be worth $10.5 billion based on the projected valuation.

• The restructuring has faced criticism, notably from co-founder Elon Musk, who is concerned about the organization's commitment to its original mission.

OpenAI

Top Executives, Including CTO Mira Murati, Leave OpenAI

The Gist: OpenAI is experiencing a wave of notable executive departures, including CTO Mira Murati, who announced her decision to leave after reflecting on her desire for new personal exploration. This follows a turbulent period for the AI company marked by leadership changes.

Key Details:

• Mira Murati, along with other top executives, is leaving OpenAI amicably, emphasizing her need for personal growth.

• CEO Sam Altman confirmed the departures, highlighting that such changes are common in fast-growing companies, even if this situation feels unusual.

• The exits follow a series of high-profile resignations from OpenAI, including co-founder Greg Brockman and safety team leader Ilya Sutskever.

• Murati spoke positively about her time at OpenAI, noting it as a leader in AI innovation despite the challenges faced during her tenure.

Meta

Meta Launches its AI-Packed Orion AR Glasses

The Gist: Meta has just launched its Orion AR glasses, packed with AI capabilities aimed at redefining how we interact with technology in mixed and virtual realities. These glasses not only look sleek but also promise a new level of convenience and user engagement.

Key Details:

• The Orion glasses feature incredible voice, eye, and hand-tracking technology, making navigation simple and intuitive.

• Meta is revamping its Ray-Ban collection, enabling real-time translation and smarter interactions using voice commands without a wake phrase.

• The new Meta Quest 3S headset is set for pre-order, offering immersive VR experiences at competitive prices.

• A fresh wave of updates to virtual environments includes better avatars and new co-watching features tailor-made for social interactions.

Quick Gist

Meta unveiled its open-source Llama 3.2 models, featuring smaller, multimodal capabilities for text and image processing, designed for wider accessibility and competitive performance against leading AI systems (Read More).

Anthropic unveiled Contextual Retrieval, a new technique that significantly enhances AI systems' interaction with large knowledge bases by reducing context loss and retrieval failures, touted as a transformative advancement in AI data management (Read More).

Apple's upcoming on-device AI model, Apple Intelligence, will require 4 GB of storage and be available on select devices with iOS 18.1 as a beta service (Read More).

Google reportedly paid $2.7 billion to rehire AI expert Noam Shazeer, who left in frustration over the company's AI development approach (Read More).

Over 100 companies, including Adobe and Microsoft, have signed the EU's Artificial Intelligence Pact, committing to voluntary pledges aimed at responsible AI development and governance (Read More).

OpenAI is considering a logo rebrand to a simple "O" or zero, sparking mixed reactions from employees regarding its design, as the company approaches significant milestones in artificial general intelligence and market valuation (Read More).

Microsoft is developing a news presenter-like version of Copilot that will aggregate daily information and news autonomously for users, reflecting a broader trend among AI assistants (Read More).

THAT’S IT FOR TODAY!