Welcome to AI Tool Report!

Thursday’s top story: OpenAI is in talks with Venture Capitalist firms to raise the biggest amount of funding in over a year, with a valuation of $1B.

🌤️ This Morning on AI Tool Report

1. 💸 OpenAI’s desperate funding race

2. ⚡ How to learn about AI and automation

3. 🤖 Google launches custom GPT alternative!

4. 📽️ How to create engaging video guides in under one hour

5. 🧑‍🤝‍🧑 How to create a community on Facebook using ChatGPT

6. 🎉 Google’s image-generator is back!

7. 📌 New AI pin: Better than Humane’s?

Read Time: 5 minutes

STOCK MARKETS

👇 AI stocks slid lower during Wednesday’s session as the market prepared for NVIDIA’s Q2 earnings release. NVIDIA beat analysts’ predictions and reported 122% revenue growth due to surging demand for data center chips. Despite this, the stock is currently trading 4.61% lower during the after-hours session. Learn more.

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FUNDING

💸 OpenAI’s desperate funding race

Our Report: OpenAI is in talks with Venture Capitalist (VC) firms to raise the largest amount of capital in over a year, valuing the company at $1B.

🔑 Key Points: 

• VC firm, Thrive Capital, will (reportedly) invest $1B and Microsoft is expected to participate, with OpenAI’s previous backers—Khosla Ventures, Infosys, and Y Combinator—also expected to chip in.

• If successful, this will be the biggest injection of capital OpenAI has seen since January 2023, when Microsoft—who holds a 43% stake in the company—invested $10B, making it a total of $13B since 2019.

• The $1B valuation is substantially higher than February’s valuation—when sales of employee shares showed that OpenAI was privately valued at $86B—and is the highest valuation of any AI start-up, to date.

🤔 Why you should care: If rumors are true, OpenAI has been in discussions to raise this capital since December 2023, because—with an annualized revenue of around $3.4B—it's dangerously on track to drop $5B by the end of this year (having spent $8.5B on AI training and staff), with experts describing its business model as “untenable,” and warning that if it wants to make it to 2026, it will need to raise more funds than any start-up ever has.

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2. AI Video Cut transforms long videos into viral shorts with AI

3. MakeMyAnime creates anime animations with AI

4. AI Ease creates professional AI headshots

5. VoiceGen generates realistic AI voices

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CHATBOTS

🤖 Google launches custom GPT alternative!

Our Report: Google has announced it's days away from allowing its paying users to build Gems—custom Gemini chatbots, that can be tailored to specific tasks, like being a gym buddy or a cooking partner, for example—a concept it first introduced in May, at their I/O developer conference.

🔑 Key Points: 

• Creating a Gem is similar to building a custom GPT: Users describe what they need and instruct it to complete specific tasks, which it will remember, so they don’t have to re-type prompts, it will remain bespoke.

• Google is offering those who don’t want to build a custom chatbot from scratch, premade Gems, which include a learning coach, a brainstormer, a career guide, a coding partner, and a writing editor.

• The ability to create Gems, or use the premade versions, will be available to Gemini Advanced, Gemini Business, and Gemini Enterprise users in over 150 countries and “most” languages “over the coming days.”

🤔 Why you should care: With the launch of Gems, Google has followed (quite far behind) the footsteps of OpenAI, which launched its custom GPT chatbot feature in November last year, although OpenAI has gone a step further by letting its users share their custom GPTs in the ChatGPT store.

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Written guides are a waste of time, right?

FAQs, training materials, onboarding docs, how-to guides, and feature notes take weeks to write. They always need updating, are often off-brand, and take whole teams of people to create.

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• Quickly whip up videos (with no skills needed)

• Edit in real-time

• Share with anyone, anywhere

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Thursday’s Prompt: How to create a community on Facebook using ChatGPT

Type this prompt into ChatGPT:

Results: After typing this prompt, you will get copy that you can post on Facebook to foster a sense of community and encourage your ideal customers to engage with your brand.

P.S. Use the Prompt Engineer GPT by AI Tool report to 10x your prompts.

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Explore how AI can help you meet deadlines consistently.

Subscribe to The AI Report for the full story and more premium insights and tactics!

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TEXT-TO-IMAGE

🎉 Google’s image-generator is back!

• Over the “coming days”, Google will release an updated version of its Gemini-powered text-to-image generator—Imagen 3—in English, to Gemini Advanced, Business, and Enterprise users.

• It originally released the image generator in February, but swiftly pulled it after users reported it was generating historically inaccurate images, and since then it's been testing its capabilities through its AI Test Kitchen.

• The updated model “performs favorably compared to other image generation models,” and has additional safeguards that prevent users from creating images of public figures, minors, or anything involving violence.

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WEARABLES

📌 New AI pin: Better than Humane’s?

• Plaud (creator of GPT-4o-powered wearable voice recorder, Plaud Note) is launching an AI Pin—NotePin—which records meetings, takes notes, and handles “tasks so you can concentrate on what drives value.”

• The pill-shaped wearable—which has taken inspiration from early Fitbits—can be worn as a pendant, pin, or watch, can continuously record for up to 20hrs, and is designed to “reshape the professional landscape”.

• It costs $169, is available for pre-order, and given the success of Plaud Note—which has shipped 200,000 units since April—is expected to outperform competitor wearables from the likes of Humane and Friend.

🎙️ Legally Represented: Boosting justice through AI

📢 Tuesday’s poll results are in…

Will other AI vendors follow Anthropic and publish their ‘top-secret’ system prompts?

👍 Yes: Transparency is a must within the AI industry, so they will follow suit to remain competitive: 80.69%

“Transparency is better. If hackers want to play with AI they will find the way regardless of what we do to prevent them.”

👎 No: This is playing into the hands of hackers, so publishing this information is irresponsible: 19.31%

“I think other firms will say certain things to make it seem like they're playing along, or they will announce some sort of new "keep humans safe" initiative" to make it sound like they're following along while keeping their prompts secret.”

We read your emails, comments, and poll replies daily.

Hit reply and tell us what you want more of!

Until next time, Martin & Liam.

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