The Future Beckons with Ive and Altman’s Billion-Dollar Vision

Funding for innovative AI projects continues to flow with Jony Ive and Sam Altman coming together to build AI products. Also, Meta adjusted its strategy on AI generated content.

All this and more in today’s newsletter

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• Apple design guru Jony Ive teamed up with OpenAI CEO Sam Altman to develop what they’re calling the “iPhone of AI.” Their ambitious project aims to create innovative hardware suitable for the era of artificial intelligence. While no deal was agreed upon initially, they are now in advanced discussions with various venture capital firms, including Thrive Capital and Emerson Collective, to secure around $1 billion in funding for their yet-to-be-named startup.

• Meta Platforms Inc., the parent company of Facebook and Instagram, has made significant changes to its content policies regarding AI-generated content. Instead of outright removal, Meta will now label misleading AI-generated content to provide transparency. This shift in approach comes after criticism from the Oversight Board, which recommended labeling rather than removal. Starting in May, AI-generated content on Meta platforms will be labeled as ‘Made with AI’ to indicate its origin.

• Jamie Dimon, the CEO and chairman of JPMorgan Chase, believes that artificial intelligence (AI) could have a profound impact on society, possibly rivaling major technological inventions of the past. In his annual letter to shareholders, Dimon stated that the consequences of AI might be as transformational as inventions like the printing press, steam engine, electricity, computing, and the Internet.

• Taiwan Semiconductor Manufacturing Company (TSMC), the world’s most valuable chipmaker, is set to produce its most advanced chips in Arizona. This development comes after receiving a multibillion-dollar subsidy pledge from the US government, part of President Joe Biden’s efforts to boost domestic computer chip production. TSMC aims to begin producing two-nanometer chips at a new factory in Phoenix, Arizona, by 2028.

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