Tesla Halts Driving-Assistance Software Trial in China, Pending Approval 

A Tesla Model 3 vehicle drives using FSD (Full Self-Driving) in Encinitas, California, US, October 18, 2023. (Reuters)
A Tesla Model 3 vehicle drives using FSD (Full Self-Driving) in Encinitas, California, US, October 18, 2023. (Reuters)
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Tesla Halts Driving-Assistance Software Trial in China, Pending Approval 

A Tesla Model 3 vehicle drives using FSD (Full Self-Driving) in Encinitas, California, US, October 18, 2023. (Reuters)
A Tesla Model 3 vehicle drives using FSD (Full Self-Driving) in Encinitas, California, US, October 18, 2023. (Reuters)

Tesla said on Monday it would release its smart driving-assistance feature in China after completing regulatory approval, following complaints that a limited-time free trial of its Full Self-Driving service had been temporarily paused.

"All parties are actively advancing the relevant process and we will push it to you as soon as it is ready. We are also looking forward to it, please wait patiently," Tesla's customer support said on social media platform Weibo.

The message was posted as a comment under a feed of Tesla vice president Grace Tao's Weibo account.

The company said last Monday that it would launch the free trial of its FSD service in China between March 17 and April 16.

FSD is a suite of driving-assistance technologies developed with generative artificial intelligence to cope with more complicated traffic conditions.

Tesla is aiming for a full roll out of FSD this year, and is working with Chinese tech giant Baidu to improve the performance of the system, Reuters previously reported.

Tesla has offered such trials in the United States, where its FSD system does not require navigation maps to be accurate or up-to-date because local training of the AI helps the technology drive better.

But in China, Tesla has been unable to train the system with data from its 2 million EVs because of the country's data laws.

In late February, China's industry ministry issued new rules requiring autonomous driving-related over-the-air software upgrades to be subject to regulatory approval.



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.