We recently compiled a list of 10 AI News Investors Should Not Miss. In this article, we’ll take a look at where Micron Technology, Inc. (NASDAQ:MU) stands in relation to other AI stocks.
Known as the “godfather of artificial intelligence,” Professor Geoffrey Hinton, a British-Canadian computer scientist, recently warned that the pace of technological change today is much faster than initially expected. As a result, there is a 10-20% chance that artificial intelligence will wipe out humanity in the next three decades. Previously, he said there was only a 10% chance the technology would achieve this.
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Despite these warnings, companies are racing to take the lead in the AI arms race. OpenAI, for example, which is also known as the company that started the race itself, recently presented its intention to revamp its structure. The company said it would create a public benefit corporation to facilitate raising additional capital.
Reuters reported the news in September, which sparked a debate among business watchdogs and tech moguls over whether the company would be able to fairly allocate its assets to the nonprofit arm lucrative and whether the company would be able to strike a balance between making a profit. and fostering the public good as it develops AI.
“We once again need to raise more capital than we imagined. Investors want to support us but, at this scale of capital, they need conventional equity and fewer bespoke structural measures. The hundreds of billions of dollars that major companies are now investing in AI development shows what it will really take for OpenAI to continue pursuing its mission.”
The company plans to transform its for-profit branch into a Delaware public benefit corporation (PBC), aligning its structure with that of competitors such as Anthropic and Musk’s xAI, which use a similar structure and recently raised billions of dollars in funding.
“The key to the announcement is that the for-profit side of OpenAI will manage and control the operations and activities of OpenAI. This is the crucial step the company must take in order to continue fundraising” , Luria said, while adding that this decision “did not require OpenAI to be made public”.
For this article, we selected AI stocks by looking through news articles, stock analyses, and press releases. These stocks are also popular among hedge funds.
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