At Metaverse Event, Meta’s Zuckerberg Unveils Work to Improve How Humans Chat to AI

Small toy figures are seen in front of displayed Facebook's new rebrand logo Meta in this illustration taken, October 28, 2021. (Reuters)
Small toy figures are seen in front of displayed Facebook's new rebrand logo Meta in this illustration taken, October 28, 2021. (Reuters)
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At Metaverse Event, Meta’s Zuckerberg Unveils Work to Improve How Humans Chat to AI

Small toy figures are seen in front of displayed Facebook's new rebrand logo Meta in this illustration taken, October 28, 2021. (Reuters)
Small toy figures are seen in front of displayed Facebook's new rebrand logo Meta in this illustration taken, October 28, 2021. (Reuters)

Facebook-owner Meta is working on AI research to allow people to have more natural conversations with voice assistants, CEO Mark Zuckerberg said on Wednesday, a step towards how people will communicate with AI in the metaverse.

The company's Project CAIRaoke is "a fully end-to-end neural model for building on-device assistants," said Zuckerberg, speaking at Meta's live-streamed artificial intelligence event.

Zuckerberg is betting that the metaverse, a futuristic idea of virtual environments where users can work, socialize and play, will be the successor to the mobile internet.

The social media company, which recently lost a third of its market value after a dismal earnings report, has invested heavily in its new focus on building the metaverse and changed its name to reflect this ambition. This month Meta reported a 2021 net loss of $10.2 billion from its Reality Labs, the company's augmented and virtual reality business.

Meta also recently announced its research team has built a new artificial intelligence supercomputer that it thinks will be the fastest in the world when completed in mid-2022.



OpenAI to Raise $40 Billion to Boost AI Efforts

A keyboard is placed in front of a displayed OpenAI logo in this illustration taken February 21, 2023. (Reuters)
A keyboard is placed in front of a displayed OpenAI logo in this illustration taken February 21, 2023. (Reuters)
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OpenAI to Raise $40 Billion to Boost AI Efforts

A keyboard is placed in front of a displayed OpenAI logo in this illustration taken February 21, 2023. (Reuters)
A keyboard is placed in front of a displayed OpenAI logo in this illustration taken February 21, 2023. (Reuters)

OpenAI said on Monday it would raise $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation to advance AI research, expand computational infrastructure and enhance its tools.

SoftBank would provide 75% of the funding, according to a person familiar with the matter, with the remainder coming from Microsoft, Coatue Management, Altimeter Capital and Thrive Capital.

OpenAI said it looks to deliver increasingly powerful tools for the 500 million people who use ChatGPT every week.

Investor enthusiasm for the artificial intelligence sector has surged significantly in recent years, driven by widespread adoption of chatbots and the emergence of sophisticated AI agents.

Enterprises have integrated AI solutions to streamline their operations and enhance customer experiences, while venture capital firms compete to back promising AI startups.

San Francisco-based OpenAI had closed a $6.6 billion funding round in October, which valued the company at $157 billion. The new funding round would nearly double the valuation of the AI startup.

"OpenAI has very ambitious plans on many fronts and needs a lot of capital to achieve these goals," D.A. Davidson & Co analyst Gil Luria said.

"The list of investors wanting to support that scope has shrunk and may be largely limited to SoftBank, which itself may not have the necessary capital."

OpenAI is partnering with SoftBank and Oracle to establish a network of data centers under the $500-billion Stargate project, aimed at powering artificial intelligence workloads in the United States.

Microsoft-backed OpenAI also plans to revamp its structure, saying it would create a public benefit corporation to attract more investment and resources while balancing shareholder interests with public benefits.

OpenAI must transition to a for-profit company by the end of the year to secure the full $40 billion funding led by SoftBank, a person familiar with the matter told Reuters on Friday.

With the latest funding, OpenAI will join the ranks of the most valuable private companies, such as SpaceX, China's ByteDance and Stripe.