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:

• OpenAI Raises $6.6 Billion in Funding

• Google is Working on a New OpenAI o1 Rival

• Accenture and NVIDIA's Partnership Powers Innovation

• Amazon Launches New Fire Tablets with AI Features

• And more AI news….

Top Developments

OpenAI

OpenAI Raises $6.6 Billion in Funding

The Gist: OpenAI has become a heavyweight in the tech world, raising $6.6 billion in funding, which values the company at a whopping $157 billion. This move is set to strengthen their position in AI research and expand their innovative tools for users.

Key Details:

• The funding round was led by Thrive Capital and included big names like Microsoft, Nvidia, and SoftBank.

• OpenAI saw a skyrocketing $300 million in revenue last month, a jaw-dropping 1,700% increase from last year.

• They've gathered a huge user base, boasting 250 million weekly active users and millions of paying subscribers.

• Recent executive departures hint at potential organizational changes as the board considers shifting OpenAI's structure to a for-profit model.

Gemini

Google is Working on a New OpenAI o1 Rival

The Gist: Google is working on a new AI for its Gemini platform that mimics human reasoning, much like OpenAI's recent upgrades to ChatGPT. The goal is to create a system that takes its time to respond, enhancing its problem-solving abilities.

Key Details:

• Google's AI is set to focus on multi-step problem solving, particularly in math and coding.

• The new models will use a "chain-of-thought prompting" approach, allowing the AI to evaluate different responses internally before answering.

• While there's no launch date, recent developments indicate Google is ramping up its efforts to keep up with competitors like OpenAI and Microsoft.

• Ethical considerations and internal conflicts within Google are currently slowing down the process.

Nvidia

Accelerating AI: Accenture and NVIDIA's Partnership Powers Innovation

The Gist: Accenture and NVIDIA are teaming up to supercharge AI adoption in businesses, focusing on innovative applications of generative AI with their new dedicated group. They aim to revolutionize how companies operate by employing advanced AI technologies.

Key Details:

• Accenture created the NVIDIA Business Group to help businesses utilize agentic AI that can autonomously create workflows.

• The partnership is projected to train over 30,000 professionals worldwide in adopting these advanced AI systems.

• A notable project includes launching Indonesia's first sovereign AI with Telco Indosat Group, enhancing data governance within financial services.

• Accenture is expanding its AI Engineering Hubs globally, adding new locations in Singapore, Tokyo, Malaga, and London to support AI technology scaling.

Quick Gist

Character.ai has shifted its focus from developing large language models to enhancing its consumer chatbot platform after securing a $4 billion deal with Google, which also involved the departure of key staff (Read More).

Google has launched experimental access to its Gemini Nano model on Android devices for app developers, enabling AI-enhanced features and customisation, currently limited to the Pixel 9 series (Read More).

Meta has confirmed that images and videos shared with its AI, including those from Ray-Ban smart glasses, may be used for training purposes without an opt-out option for users (Read More).

Meta is testing the integration of AI-generated content, including personalized images of users, into Facebook and Instagram feeds as part of its "Imagine Me" feature (Read More).

Microsoft announced a €4.3 billion investment in Italy to expand its cloud and AI data center infrastructure and provide digital skills training for over 1 million Italians by 2025 (Read More).

OpenAI has asked its investors to avoid funding five competing AI startups, including one founded by its co-founder, amid its recent $6.6 billion funding round and a shift towards a for-profit model, raising concerns about adherence to its original ethical principles (Read More).

Amazon launched three new Fire HD 8 tablets featuring generative AI tools, with significant price discounts during the October Prime Day event (Read More).

THAT’S IT FOR TODAY!