OpenAI nears $10 billion funding round completion
OpenAI is close to finalizing a deal to raise approximately $10 billion from venture investors, which would increase the total from its latest funding round to over $120 billion. The financing, co-led by firms including Abu Dhabi’s MGX and Andreessen Horowitz, is expected to close next week, according to OpenAI Chief Financial Officer Sarah Friar. Meanwhile, Thai AI startup Amity has secured $100 million in funding as it prepares for an IPO and expands its product offerings.
Arm Holdings to Launch Own Chips, Targets $15 Billion Sales
Arm Holdings Plc will begin selling its own chips for the first time, targeting approximately $15 billion in annual sales within five years. Meta Platforms Inc. will be the first major customer for the AGI CPU, which features up to 136 cores and consumes 300 watts of electricity, with production handled by Taiwan Semiconductor Manufacturing Co. This new venture is expected to surpass Arm's existing intellectual property sales, contributing to a projected total revenue of around $25 billion by 2031.
Chinese AI Stocks Surge on Rising Token Consumption
Chinese artificial intelligence service stocks experienced a rally following state media reports of a 57% increase in token consumption from March 16–22 compared to the previous period, significantly outpacing the 7.4% growth in the US. Shares of Knowledge Atlas Technology JSC Ltd. rose as much as 8% in Hong Kong, while data-center operators like Beijing Sinnet Technology Co. and GDS Holdings Ltd. also advanced amid expectations of continued demand. The surge in token usage, which measures data units processed by AI models, is being viewed as a key metric for monetizing AI offerings, according to Liu Liehong, head of the National Data Administration.
OpenAI discontinues Sora AI app and Disney partnership
OpenAI has discontinued its Sora AI video-generation app and ended its partnership with Disney, citing a strategic shift to focus on core artificial intelligence products. Launched in 2024, Sora allowed users to create videos featuring Disney characters under a three-year licensing agreement, which has now been terminated. OpenAI plans to redirect its resources towards developing robotics technologies, while assuring that its image-making tools on ChatGPT remain unaffected by this closure.
Amazon's Zoox to Launch Paid Robotaxi Service in 2023
Amazon's Zoox is set to launch its paid robotaxi service in Austin, Texas, and Miami, Florida, later this year, following nearly two years of testing in these cities. The company is also expanding its service areas in San Francisco and Las Vegas, with the San Francisco area quadrupling in size and Las Vegas doubling its destinations. Zoox has reported nearly two million autonomous miles driven and over 350,000 riders carried to date, while it awaits federal exemptions to begin offering paid rides.
