VOLUME 59

AI just seems to be all the craze these days.

— Jacob Pace

OpenAI Closes $6.6B Round at $157 Billion Valuation

What happened: OpenAI has raised $6.6 billion in a funding round led by Thrive Capital, with participation from tech giants like Microsoft and NVIDIA, pushing its valuation to $157 billion. This makes OpenAI one of the most valuable private companies globally. The company, known for its leading generative AI platform, ChatGPT, now supports over 250 million weekly active users

What’s next: The newly raised funds will be deployed to scale up OpenAI's frontier research in artificial general intelligence (AGI) and enhance its computational infrastructure. The company aims to make its tools more accessible for businesses and consumers, with a focus on improving AI models for various industries like education, healthcare, and creative fields. OpenAI also plans to invest heavily in cloud computing resources, particularly through its partnership with Microsoft Azure, which will allow it to meet the growing demand for AI-powered applications

Meta AI Nears 500M Users

What happened: Mark Zuckerberg revealed at Meta Connect 2024 that Meta AI is approaching 500 million monthly active users, driven primarily by integration into services like WhatsApp, Instagram and Messenger. Meta AI’s rapid adoption reflects its strong foothold in markets like India, where WhatsApp alone has over 500 million users.

Why it matters: Meta is leveraging its massive user base on platforms like WhatsApp to drive AI adoption, effectively using these platforms as a “trojan horse” for AI tools. By embedding AI capabilities such as generative responses and photo-editing features across its ecosystem, Meta is positioning itself to become a major player in the AI race, competing with giants like OpenAI​.

Discord Opens its Developer Ecosystem

What happened: Discord has opened its platform to developers, allowing them to create, monetize, and expand apps and games within the Discord ecosystem. By cutting platform fees to 15% (from 30%) for the first $1 million in sales, Discord is incentivizing developers to build on the platform​.

Why it matters: Developers are key to expanding Discord’s offerings beyond communication. By providing tools and monetization opportunities, Discord can attract a broader range of applications and services, solidifying its role as a multi-purpose platform​.

Taylor Lorenz Leaves Washington Post, Launches Substack

What happened: Notorious internet culture reporter Taylor Lorenz has left The Washington Post to launch User Magazine on Substack. The move comes after a series of controversies related to her reporting style and remarks about political figures​.

Industry reaction: Lorenz’s departure has stirred discussions about the future of journalism, with many seeing her shift to Substack as part of a broader trend where journalists leave traditional outlets to build personal brands. Critics and supporters alike are debating whether this move signals greater freedom or a risk of losing institutional credibility