Former OpenAI Scientist’s New AI Startup Raises $1 Billion for Safe Superintelligence

Author

Damon James
September 06, 2024

September 3rd, 2024

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Read Time: 10 Minutes

Today’s Menu

  • GPT-Next to Outclass GPT-4 by 100x, Says OpenAI Japan CEO

  • Bitcoin Struggles Amid Recession Fears and "Sell-on-Rise" Sentiment

Markets

Price

1 Day Change

Bitcoin

$54,103

.8% ⬆️

Ethereum

$2,292

1.3% ⬇️

Solana

$127

.7% ⬇️

TODAY IN AI

Former OpenAI Scientist’s New AI Startup Raises $1 Billion for Safe Superintelligence

Safe Superintelligence (SSI), a startup co-founded by ex-OpenAI chief scientist Ilya Sutskever, secured $1 billion in funding to develop AI systems surpassing human intelligence. SSI's focus is on AI safety, ensuring superintelligent AI is safe for humanity.

Co-founded just three months ago by Sutskever, Daniel Gross, and Daniel Levy, the company has rapidly grown to a $5 billion valuation. With only ten employees, SSI will use the funds to acquire computing power and talent, with backing from Andreessen Horowitz and Sequoia Capital.

I’m a huge believer in the fact that lean, highly leveraged businesses are the way of the future (and that companies with bloated headcounts are going to get crushed over the next decade).

Safe Superintelligence is 100% a direct attack on OpenAI after their leadership team fallout.

The LLM competition is really starting to heat up and $1B in funding goes a VERY long way.

Today In Crypto

Bitcoin Struggles Amid Recession Fears and "Sell-on-Rise" Sentiment

Bitcoin dropped below $57,000, erasing gains from its midweek rally. Trading around $56,800, BTC remains stuck in a downtrend driven by increasing U.S. recession risks. As of this morning it’s down to $54,000.

Despite weak economic data strengthening the case for Fed rate cuts, risk appetite appears limited. BTC has now fallen for 9 out of the last 11 days, struggling to break past its 200-day moving average.

Meanwhile, Blockstream Mining announced a third round of investment for its hashrate-backed tokenized note, seeking $31,000 per unit to offer a slice of its bitcoin mining rewards.

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