⚡AI-mazing News, ChatGPT Wrote the Deal Maybe… and Our Inaugural Newsletter

📌 Research highlights: Precisely armed and robotic

Microscopic robotic systems have been forced to function without arms up until now. Recently, scientists created a glass needle that is ultrasonically activated and can be linked to a robotic arm. They are able to pump, mix, and trap particles while using tiny volumes of liquid.

🚀 Industry news: ChatGPT wrote this deal, maybe?

Microsoft has announced a deal with OpenAI for 10 billion dollars. This partnership will see the two companies working together to develop cutting-edge AI technologies and bring them to market.

According to those familiar with the matter, the transaction includes additional investors and would value OpenAI at an astounding $29 billion in an era of revised valuations. This information was provided by Semafor. Although term sheets offered to potential investors suggested that the purchase was intended to be closed by the end of 2022, whether the agreement has been concluded is still being determined.

Until it recovers its investment, Microsoft will reportedly receive 75% of OpenAI's income; at that point, the corporation would take a 49% ownership position in the company.

🛠️ In a bid to “steal” or instead to get ahead of the pack in the future of AI, Microsoft and OpenAI structured this deal, viz:

• First Close Partners (FCP) initially get all profits until the principal is paid back, e.g. Y Combinator, Khosla Ventures, Sequoia, Andreessen Horowitz, etc.

• After the principal has been paid back, 25% goes to employees and FCP Cap paydown

• And here is where things get bonkers, once the $10b is paid, Microsoft leeches another 49% in OpenAI earnings, with OpenAI employees getting the other 41%, with 8% going to early investors and 2% to ChatGPT

• After all the above, will OpenAI get 100% of the profits, yeap, you heard that right, OpenAI is keeping one hunnit

• So, wait a minute, why would Microsoft invest $10b only to give up profits later? Well, Satya Nadella, Microsoft’s CEO, is placing a bet that they would be able to take over or lead the entire artificial intelligence industry once they integrate the technology into its products, not just Bing, but gaming, in which Microsoft has significant tentacles.

🧙‍♂️ Policy and regulation: You shall not pass!

New York City has banned the use of ChatGPT in public schools, citing concerns over the potential adverse effects on students' privacy and data security. The largest school district in the nation, managed by the Department of Education of New York City, stated this week that it was concerned about harmful effects on student learning and concerns over the safety and veracity of information.

The well-known conversational AI model maker, OpenAI, has updated ChatGPT to increase its accuracy. Even though ChatGPT may be more precise now, its knowledge only goes as far as 2021 data.

AI and society: Bing chilling…Bing chilling❗

ChatGPT, the language model developed by OpenAI, will soon be deployed on Bing, Microsoft's web browser. This will allow users to access the powerful AI technology and receive more accurate and relevant search results.

As per sources with direct knowledge of the plans, Microsoft is getting ready to roll out a version of its Bing search engine that answers some search questions rather than merely providing a list of links using the ChatGPT artificial intelligence. Microsoft is hoping that the new capability, which might be live by the end of March, will enable it to bypass Google, a considerably more powerful search competitor.