California blocks AI safety bill

Welcome, AI enthusiasts.

The tug-of-war between AI acceleration and safety just took a brand new turn — with California vetoing a controversial AI bill set to shake up the tech landscape.

Is that this a decisive victory for Silicon Valley and Big Tech, or is the AI regulatory battle just getting began? Let’s get into it…

In today’s AI rundown:

• California’s controversial AI safety bill vetoed

• OpenAI secures SoftBank funding as Apple exits raise

• Unlock multiple ChatGPT tools in a single chat

• Liquid AI unveils efficient latest LFM models

• 5 latest AI tools & 4 latest AI jobs

• More AI & tech news

Read time: 4 minutes

LATEST DEVELOPMENTS

AI REGULATION

❌ California’s controversial AI safety bill vetoed

The Rundown: California Governor Gavin Newsom just vetoed S.B. 1047, a groundbreaking AI safety bill that might have imposed stricter regulations on Silicon Valley AI firms and the discharge of latest models within the state.

The main points:

• The bill would have required safety testing for AI models before their public release and held AI corporations accountable for any ‘severe harm’ (over $500M in damages) caused.

• Tech giants, including OpenAI and Google, VCs, and politicians like Nancy Pelosi lobbied heavily against the bill, arguing it will stifle innovation.

• The bill had notable support from Elon Musk, Anthropic, the ‘Godfather of AI’ Geoffrey Hinton, and over 120 Hollywood actors, directors, and employees.

• Newsom said the bill was ‘well-intentioned’ but flawed, vowing to seek the advice of with AI experts to craft guardrails for future laws efforts.

Why it matters: Because the U.S. federal government continues to lag in AI regulation, states are stepping as much as fill the void. While S.B. 1047 is shelved for now, the controversy over AI governance is way from settled—and can likely proceed to pit AI safety advocates against those pushing for rapid development throughout Silicon Valley.

TOGETHER WITH INNOVATING WITH AI

💼 Start your profession as an AI Consultant

The Rundown: Innovating with AI’s latest program, AI Consultancy Project, equips AI enthusiasts with all of the resources to capitalize on the rapidly growing AI consulting market – which is about to 8x to $54.7B by 2032.

This system offers:

• Tools and framework to seek out clients and deliver top-notch services

• A 6-month roadmap to construct a 6-figure AI consulting business

• Student landing their first AI client in as little as 3 days

Click here to request early access to The AI Consultancy Project.

OPENAI

💰 OpenAI secures SoftBank funding as Apple exits raise

The Rundown: Despite Apple reportedly now not participating in OpenAI’s upcoming funding round, the AI giant has secured billions of dollars from Japanese investment giant Softbank, Microsoft, and Thrive Capital.

The main points:

• OpenAI is rumored to be raising as much as $6.5B via convertible notes, at an eye-popping $150B valuation.

• Microsoft plans to participate with an extra $1B, adding to its previous $13B investment within the AI giant.

• Investment firm Thrive Capital can also be investing $1B, with a reported option so as to add an extra $1B the next yr based on revenue goals.

• The Wall Street Journal reported that Apple isn’t any longer involved within the funding round, despite partnerships with OpenAI and its inclusion in Apple Intelligence.

• The raise comes amid OpenAI’s controversial restructuring to a for-profit entity, with Sam Altman denying rumors that he’ll receive equity within the move.

Why it matters: OpenAI’s latest raise and for-profit turn is one other saga in its convoluted and controversial business structure. Despite the recent high-profile departures and continued drama, the ChatGPT maker remains to be clearly seen as a top horse to bet on within the AI boom—and there isn’t a shortage of major players who want in.

AI TRAINING

🧰 Unlock multiple ChatGPT tools in a single chat

The Rundown: ChatGPT’s latest shortcut feature permits you to immediately switch between image generation, web search, and advanced reasoning tools directly in a single chat—avoiding the necessity to reset chats.

Step-by-step:

1. Start a brand new chat in ChatGPT and kind “https://www.therundown.ai/” within the input field.

2. Select from three options: Picture (DALL-E), Search (web), or Reason (GPT-o1).

3. For images, use “/picture PLUS: OpenAI’s funding round rumors heat up” (e.g., “/picture quantum computer”).

4. For web searches, use “/search [query]” (e.g., “/search quantum computer”).

5. For complex reasoning, use “/reason [task]” (e.g., “/reason Explain quantum computing”).

Pro tip: When using the /search command, try adding “latest” or a particular yr to your prompt.

PRESENTED BY SECTION

🏆 Construct winning AI applications

The Rundown: Join Section and Ed Ortega of Machine + Partners on Oct. 29 for a free event tailored to leaders seeking to construct AI applications.

On this session, you’ll learn how one can:

• Prioritize which AI projects to tackle first

• Avoid AI “traps” and construct winning AI products

• Get beyond the “hype” and get real ROI with AI

RSVP free of charge today and begin making AI work for your corporation.

LIQUID AI

💧 Liquid AI unveils efficient latest LFM models

The Rundown: Liquid AI just introduced a brand new series of AI models called Liquid Foundation Models (LFMs), difficult the normal transformer architecture while achieving state-of-the-art performance and enhanced memory efficiency at smaller model sizes.

The main points:

• The corporate released its LFMs in 1.3B, 3B, and 40B parameter sizes, based on a brand new architecture utilizing computational units rooted in dynamical systems slightly than traditional transformers.

• The models surpass transformer-based counterparts like Meta’s Llama 3.2 and Microsoft’s Phi-3.5 on major benchmarks like MMLU.

• LFMs require significantly less memory for inference, particularly with long-context tasks — supporting as much as 32k tokens while maintaining memory efficiency.

• The models usually are not open-source and are only currently available via the corporate’s Lambda (Chat UI and API) and on Perplexity AI.

Why it matters: Liquid AI’s LFMs are a major shakeup from the transformer architecture standard that has dominated models since 2017. The benchmarks show that there may be multiple formula for achieving state-of-the-art AI performance—and will open latest possibilities for more efficient and accessible AI systems.

NEW TOOLS & JOBS

Trending AI Tools

• 🎤 Udio Lyric Editor – Create and refine song lyrics based on melody

• 📷 Expression Editor – Easily edit facial expressions

• 🚀 PandaETL – Automate document processes with AI and data

• 🤖 Gaia – Train and deploy neural machine translation models

• 🔍 Lumona – AI search engine leveraging social media insights

Recent AI Job Opportunities

• 👷‍♂️ Waymo – Principal Engineer

• 🤖 Weights & Biases – AI Engineer

• ⚙️ Sanctuary AI – Controls Software Engineer

• 💼 DeepL – Enterprise Sales Manager

QUICK HITS

Google agreed to take a position $1B into Thailand to expand AI and cloud infrastructure in Southeast Asia, aiming to construct latest data centers amid increasing regional competition.

TikTok parent company ByteDance is reportedly planning to develop a brand new AI model primarily using Huawei chips, diversifying from U.S. suppliers like Nvidia to counteract export restrictions.

Artisan AI secured $7.3M in seed funding for its sales-focused AI virtual employees, with its first AI assistant Ava already assisting over 120 corporations on the platform.

Luma Labs upgraded its Dream Machine AI video model speed, allowing for full-quality generations in under 20 seconds.

Qodo announced a $40M funding round for its AI-powered code testing software, with plans to expand services and goal larger enterprise clients.

AI reading coach startup Ello launched ‘Storytime’, a brand new feature allowing kids to create personalized stories using AI.

THAT’S A WRAP

See you soon,

Rowan, Joey, Zach, and Alvaro—aka The Rundown Team