⛔ Google pauses Gemini’s image generator

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Friday’s top story: Google has paused its text-to-image model after it was generating inaccurate historical images.

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🌤️ This Morning on AI Tool Report

1. ⛔ Google pauses Gemini’s image generator

2. 💰 Reddit to make $66M from AI this year

3. 💹 NVIDIA near $2 trillion market value amid AI surge

4. 🚀 Stability AI to launch OpenAI rival

5. ✍️ Google launches AI-writing feature

Read Time: 5 minutes

FINANCE

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TEXT-TO-IMAGE

⛔ Google pauses Gemini’s image generator 

Out Report: Google has temporarily paused its text-to-image tool—powered by Gemini (formerly Bard)—after users discovered it was creating historically inaccurate images.

🔑 Key Points:

• Google launched its Gemini-powered image generation tool earlier this month to compete with OpenAI’s DALL·E 3 and Microsoft’s Copilot text-to-image generators.

• After several text prompts generated images with historical inaccuracies, Google was quick to apologize, and then pause the tool to “fix the issues immediately.”

• Google has previously declared that they take “representation and bias seriously” but have since admitted that “historical contexts have more nuance to them."

• While they plan to re-release an improved version soon, they’ve only paused the text-to-image tool, other Gemini functionalities and features remain fully operational.

🤨 Why you should care: Google’s embarrassing debacle underscores the need to refine and address potential AI development biases, particularly regarding historical accuracy and responsible representation.

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SECTOR

💰 Reddit to make $66M from AI this year

• Reddit has filed its IPO (under the name “RDDT”) with details revealing that it expects “$66.4M of revenue to be recognized” by the 31st of December 2024.

• A contributing factor to this valuation is their data licensing arrangements, which have a combined contract value of $203M over the next two to three years.

• It was also revealed that Sam Altman is Reddit's 3rd largest shareholder, sparking rumors that OpenAI could be in the $60M content licensing agreement (previously thought to be Google).

• With 267.5M weekly users, 1B posts, and over 16B comments, Reddit is attractive to AI vendors—like Google and OpenAI—who can use this conversational data to train their AI models.

  Do you think OpenAI is Reddit's mystery AI content partner?

  ✅ Yes. If Altman has shares in Reddit, he will be negotiating a contract to use its content for OpenAI ❌ No. Rumors that Google is partnering with Reddit are too strong for it to be OpenAI

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MARKET VALUATION

💹 NVIDIA near $2 trillion market value amid AI surge

• NVIDIA shares have increased by 16.4%, taking its market value to nearly $2 trillion—after reporting quarterly profits of $12.3B—as demand for AI chips soars.

• As a result, NVIDIA is now the 3rd most valuable company in the US (after Microsoft and Apple) and the 4th most valuable company in the world (after Microsoft, Apple, and Saudi Aramco).

• It also means that Jensen Huang (NVIDIA co-founder) is now worth $69.2B, making him the 21st richest man in the world, according to the Bloomberg Billionaires Index.

• This is no surprise, as NVIDIA currently controls 80% of the AI chip market, but Sam Altman’s rumored $7 trillion chip manufacturing project could change this.

PRODUCT LAUNCH

🚀 Stability AI to launch OpenAI rival

• Stability AI has announced it's about to launch ‘Stable Diffusion 3’ (SD3), a more powerful version of its existing text-to-image model (Stable Diffusion 2.0).

• The new version will work on various hardware without API access, and promises improved handling of complex prompts and generation of high-quality images.

• It's built on a similar architecture to Sora (OpenAI’s text-to-video model), which has triggered rumors that a text-to-video version might be coming soon.

• Although it’s not out yet, you can join a waitlist for an early preview, as Stability AI wants users to test the model and provide feedback before its official release.

AI FEATURE

✍️ Google launches AI-writing feature

• Despite temporarily pausing its text-to-image tool, Google has announced that it's extending the existing “Help Me Write” Gmail feature to its US Chrome users.

• The feature can be found in Chrome settings, under the “Experimental AI” page, and once enabled, users can right-click on any webpage text and select “Help Me Write.”

• When activated, it uses Gemini AI to analyze the context of a webpage and provides tailored, context-based writing suggestions for emails, reviews, or product information inquiries.

• It's only available on Mac and Windows PCs in the US (for English-language websites), and Google has established that it will not use any data collected for model training purposes.

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