Questions
Some days, I only have questions:
Is the Chinese technology sector lagging behind the United States technology sector?
The United States is arguably the most powerful leader in technology innovation.
Is China capable of competing with the United States now?
When we speak in terms of competition, what does this mean?
What does technology competition mean?
How does a technology competition influence geopolitics? How does it influence US-China bilateral relations?
Is OpenAI the most important technology company in the world?1
Are there any companies that pose the greatest threat to the United States technology sector?
Is technology a matter of national security?
Does technology help or hinder humanity’s long-term health?
Artificial Intelligence
OpenAI Seeks New Valuation of Up to $90 Billion in Sale of Existing Shares (Wall Street Journal)
OpenAI is talking to investors about a share sale that would value the artificial intelligence startup behind ChatGPT at between $80 billion and $90 billion, roughly triple its level earlier this year.
The startup, which is 49% owned by Microsoft, has told investors that it expects to reach $1 billion in revenue this year and generate many billions more in 2024, people familiar with the discussion said.
OpenAI Seeks $90 Billion Valuation in Possible Share Sale, WSJ Says (Bloomberg)
OpenAI, the creator of ChatGPT, is talking to investors about a potential share sale that would value the startup at $80 billion to $90 billion, the Wall Street Journal reported.
Such a valuation would be almost three times what the artificial intelligence startup was valued at earlier this year, the Journal said, citing unidentified people familiar with the discussions.
US-China Relations
China-US relations: American businesses welcome, Chinese Vice-President Han Zheng tells Henry Paulson in Beijing (South China Morning Post)
Beijing sent a welcoming message to US companies during a visit by American banker and former treasury secretary Henry Paulson, while urging Washington to expand “positive” policies and cut “negative” ones.
Paulson, founder of the US-China policy think tank the Paulson Institute, was received on Tuesday by Chinese Vice-President Han Zheng and top diplomat Wang Yi, with the Chinese side expressing hopes to “bring bilateral ties back on the track of sound and steady growth” with Washington.
TikTok Employees Say Executive Moves to U.S. Show China Parent’s Influence (Wall Street Journal)
TikTok has spent the past three years trying to convince U.S. lawmakers it can operate independently in this country from its China-based parent company, ByteDance. After recent personnel moves, some employees aren’t so sure.
Since the start of the year, a string of high-level executives have transferred from ByteDance to TikTok, taking on some of the top jobs in the popular video-sharing app’s moneymaking operations. Some moved to the U.S. from ByteDance’s Beijing headquarters.
Photo by Zetong Li on Unsplash
OpenAI is what’s referred to as a “capped” for-profit company. A capped for-profit company limits the maximum return for investors. OpenAI is not a non-profit company. OpenAI is a capped for-profit company.
OpenAI is seeking a $90 billion valuation for a possible share sale.