Musk’s xAI shows there’s more money on the sidelines for AI startups

Equity

TechCrunch

Founders, Silicon Valley, Finance, Ipo, Vc, Technology, Business News, Startups, Business, Venture Capital, News, Stock Market, Entrepreneurship, Techcrunch

4.2 • 365 Ratings

🗓️ 29 April 2024

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

We’re off to an AI-heavy start to the week. OpenAI has a new deal with the Financial Times that caught our eye. Sure, it’s another content licensing deal, but there appears to be a bit more in the tie-up than just content flowing one way, and money the other. On this early-week episode of Equity, we also dug into the xAI news that TechCrunch broke recently; namely that Musk’s AI enterprise is not looking to raise $3 billion on a $15 billion valuation. No, it’s now looking for $6 billion at an $18 billion valuation. That’s a lot of capital. But there was even more to chat about, including the EU handing Apple even more bad news in the form of placing iPadOS under its DMA rules that should force third-party app stores on the tablet line in time. And Tesla got some good news in China, though just how impactful it will prove is not 100% certain at this juncture. And to close out, the Times has a fascinating look at pace at which venture capitalists are putting money into AI startups. Given the ability of OpenAI to land big deals with Microsoft money, is it enough?

Transcript

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0:00.0	Hello and welcome back to Equity, the Tech Runch
0:13.9	podcast about the business of startups where we unpack the
0:17.3	numbers and the nuance behind the headlines.
0:20.1	This is Alex, good morning.
0:21.4	Today is April 29th, 2024.
0:24.7	Welcome to the week.
0:25.9	Welcome to our Monday show.
0:27.3	We're going to talk about the weekend and take a very short look ahead
0:30.5	at the week that is to come.
0:32.3	On the show today, we have of course stocks and
0:34.5	crypto lots to talk about there. Then a new open AI content deal, the
0:39.4	latest Tesla news from China, the European Union and Apple scrapping over iPad OS, and then finally I want to ask
0:47.4	our startups raising enough money. Let's talk about it.
0:50.8	Let's start with my favorite thing in the entire world which is the stock market.
0:58.1	If you spend that globe shares are higher over in Asia today lots of eyes on what the Japanese
1:04.2	yen is doing after a recently lost value against the dollar,
1:07.8	keep an eye on that.
1:08.8	Shares are higher in Europe and they are set to rise here in the US at the open.
1:14.4	How is that for green across the board for a Monday?
1:17.4	Now the individual stock that is making the biggest news this morning is Tesla.
1:21.8	It is far higher in pre-market trading. More on the
1:25.2	why behind that in just a second. But first earnings, there are a lot of names
	...

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