What Did OpenAI Do This Week? - 18/06/2023 [+20 LINKS]
OPENAI SHAKING ITS MONEYMAKER FOR LESS
While the EU launched the AI Act (see below), OpenAI and prospects of AI drove some BIG money news this week, all while meeting big media leaders to stave off future copyright issues. The Nikkei closed above 33,000 for the first time in 33 years, led by SoftBank Group Corp jumping 5.25% on reports of an OpenAI partnership and a flood of investment in chip-related companies. Microsoft, OpenAI’s number one investor, notched up a record-high valuation of nearly $2.6 trillion.
On the flip side, OpenAI announced the company was cutting prices when the company released new GPT-3.5-turbo and GPT-4 versions with a new coding feature called “function calling” which allows developers to describe functions. Put another way, the move now makes it much easier to develop things like chatbots that are capable of leveraging external tools, transforming natural language into database queries, and extracting structured data from text. Here’s what else you get for the new cost (GPT-3.5-TURBO-16k input tokens now cost 25% less, which means $0.0015 per 1K input tokens and $0.002 per 1K output tokens, equates to roughly 700 pages per US dollar):
OpenAI says the reduction was made possible by increased efficiency in its systems — a key area of focus for the startup as the company spends hundreds of millions of dollars on R&D and infrastructure and definitely has nothing to do with the masses more competition OpenAI is facing(!).
Oh, and Forbes loves them some WDODTW:
SO WHAT?
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