OpenAI co-founder's Safe Superintelligence startup inhales $1B in funding
(2024/09/05)
- Reference: 1725543907
- News link: https://www.theregister.co.uk/2024/09/05/ssi_funding/
- Source link:
Wondering if the AI bubble is set to pop? Safe Superintelligence (SSI) has just scored more than $1 billion in investor funding.
SSI was co-founded earlier this year by former OpenAI Chief Scientist Ilya Sutskever, and its employee numbers have barely cracked double digits. That hasn't stopped investors from pouring cash into the startup, and yesterday, [1]SSI announced it had taken in $1 billion in funding .
The plan, [2]according to Reuters , is to spend the money on hiring staff and buying computing power.
[3]
Exactly what those resources will do remains unclear at this stage. SSI intends to build safe superintelligence, describing it as "the most important technical problem of our time."
[4]
[5]
According to the company: "We are assembling a lean, cracked team of the world's best engineers and researchers dedicated to focusing on SSI and nothing else."
Yes, that's correct; a company that has just inhaled $1 billion in funding is using gaming slang to describe the caliber of employees it's seeking. We're sure that the AI it will eventually develop is going to be positively skibidi. Or whatever the word is when SSI finally delivers something.
[6]Not-so-OpenAI allegedly never bothered to report 2023 data breach
[7]OpenAI co-founder Ilya Sutskever's new startup aims to create 'safe superintelligence'
[8]OpenAI sets up safety group in wake of high-profile exits
[9]AI might be coming for your job, but Sam Altman can't go on dinner dates anymore
In May 2024, Sutskever [10]announced he was leaving OpenAI and professed himself "excited for what comes next." Sutskever also said: "I'm confident that OpenAI will build AGI that is both safe and beneficial."
However, he still clearly felt the need to start another AI company with the stated goal of building a safe superintelligence.
[11]
Some estimates put the value of SSI at $5 billion following the investment, although the company itself has not commented. It is, however, an eye-watering sum to be poured into a business that has been around for just a few months, with barely enough employees to fill a minibus.
The investment amount clearly indicates the AI bubble has not popped just yet as investors fearful of missing out on the next big thing inject cash into development of the technology.
However, even though Sutskever has somewhat of a track record thanks to his time at OpenAI, for every billion-dollar bet made, others will inevitably fail. ®
Get our [12]Tech Resources
[1] https://x.com/ssi/status/1831325643226890379
[2] https://www.reuters.com/technology/artificial-intelligence/openai-co-founder-sutskevers-new-safety-focused-ai-startup-ssi-raises-1-billion-2024-09-04/
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2ZtnVoesilpP9azlCbOfFEgAAAUY&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZtnVoesilpP9azlCbOfFEgAAAUY&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZtnVoesilpP9azlCbOfFEgAAAUY&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[6] https://www.theregister.com/2024/07/08/infosec_in_brief/
[7] https://www.theregister.com/2024/06/20/ilya_sutskever_safe_superintelligence/
[8] https://www.theregister.com/2024/05/28/openai_establishes_new_safety_group/
[9] https://www.theregister.com/2024/05/20/openai_safety_culture/
[10] https://www.theregister.com/2024/05/15/openai_cofounder_ilya_sutskever_leaves/
[11] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZtnVoesilpP9azlCbOfFEgAAAUY&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[12] https://whitepapers.theregister.com/
SSI was co-founded earlier this year by former OpenAI Chief Scientist Ilya Sutskever, and its employee numbers have barely cracked double digits. That hasn't stopped investors from pouring cash into the startup, and yesterday, [1]SSI announced it had taken in $1 billion in funding .
The plan, [2]according to Reuters , is to spend the money on hiring staff and buying computing power.
[3]
Exactly what those resources will do remains unclear at this stage. SSI intends to build safe superintelligence, describing it as "the most important technical problem of our time."
[4]
[5]
According to the company: "We are assembling a lean, cracked team of the world's best engineers and researchers dedicated to focusing on SSI and nothing else."
Yes, that's correct; a company that has just inhaled $1 billion in funding is using gaming slang to describe the caliber of employees it's seeking. We're sure that the AI it will eventually develop is going to be positively skibidi. Or whatever the word is when SSI finally delivers something.
[6]Not-so-OpenAI allegedly never bothered to report 2023 data breach
[7]OpenAI co-founder Ilya Sutskever's new startup aims to create 'safe superintelligence'
[8]OpenAI sets up safety group in wake of high-profile exits
[9]AI might be coming for your job, but Sam Altman can't go on dinner dates anymore
In May 2024, Sutskever [10]announced he was leaving OpenAI and professed himself "excited for what comes next." Sutskever also said: "I'm confident that OpenAI will build AGI that is both safe and beneficial."
However, he still clearly felt the need to start another AI company with the stated goal of building a safe superintelligence.
[11]
Some estimates put the value of SSI at $5 billion following the investment, although the company itself has not commented. It is, however, an eye-watering sum to be poured into a business that has been around for just a few months, with barely enough employees to fill a minibus.
The investment amount clearly indicates the AI bubble has not popped just yet as investors fearful of missing out on the next big thing inject cash into development of the technology.
However, even though Sutskever has somewhat of a track record thanks to his time at OpenAI, for every billion-dollar bet made, others will inevitably fail. ®
Get our [12]Tech Resources
[1] https://x.com/ssi/status/1831325643226890379
[2] https://www.reuters.com/technology/artificial-intelligence/openai-co-founder-sutskevers-new-safety-focused-ai-startup-ssi-raises-1-billion-2024-09-04/
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2ZtnVoesilpP9azlCbOfFEgAAAUY&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZtnVoesilpP9azlCbOfFEgAAAUY&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33ZtnVoesilpP9azlCbOfFEgAAAUY&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[6] https://www.theregister.com/2024/07/08/infosec_in_brief/
[7] https://www.theregister.com/2024/06/20/ilya_sutskever_safe_superintelligence/
[8] https://www.theregister.com/2024/05/28/openai_establishes_new_safety_group/
[9] https://www.theregister.com/2024/05/20/openai_safety_culture/
[10] https://www.theregister.com/2024/05/15/openai_cofounder_ilya_sutskever_leaves/
[11] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44ZtnVoesilpP9azlCbOfFEgAAAUY&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[12] https://whitepapers.theregister.com/
Etc etc, insert yet more marketing bilge to make gormless investors drool......
cyberdemon
Don't forget to offer free cocaine and whisky at the funding pitch
Sure, I'm in.
Anonymous Coward
Computational power acquisition expertise consultant. ("Here's a nickel, kid. Get yourself a better computer." Position does require Unix experience.)
Re: Alright, boys and girls
Zippy´s Sausage Factory
Sounds good to me. Can I apply for the office of "senior sinecure technician"?
More of the same
glennsills@gmail.com
Who do these people think they are? Crypto Tech Bros?
Ian Johnston
Sounds like yet another undertaking of great advantage, but nobody to know what it is , except that it is something to do with AI. The original was probably apocryphal, but also [1]probably reflected real practice during the South Sea Bubble .
[1] https://www-users.cse.umn.edu/~odlyzko/doc/mania17b.pdf
Anonymous Coward
It's skibidi rizz! (per Richard)
So let's see here...
Plest
$800m on plush offices, bullshit PR stunts and press junkets.
$200m on cloud rental and 50 techies and devs to make it look like they're make some sort of effort.
Give it about 12 months and..."Well tech industry sometimes doesn't work out. We tried but you know how these things go. We've decided to sell the IP to OpenAi for $50m. Laters!"
Alright, boys and girls
I'm sick of reading about crapola AI startups that can't do anything useful being showered with billions by greedy, ignorant investors. Who's up to join my VapourAI project?
Vapour AI will hire the best technologists, designers, planners, and IT greybeards*. It will focus on exploring the boundaries of today's limited AI, and build VapourAI's knowledge base and intellectual property. Our aim is not another shallow AI product**, we will avoid and surpass the inaccurate, biased AI solutions of today*** with the aim of selling Vapour AI's thousands of employee years**** expertise into the impending market where those who have thrown money at AI will need to look for the expertise to advise on curtailing or doubling down on their existing investments. Etc etc, insert yet more marketing bilge to make gormless investors drool......
* For the avoidance of doubt this includes any lady Reg forum contributors. We may need a more investor-friendly term though.
** Let's avoid lawsuits, and state in our information memorandum "no product is currently offered or anticipated"
*** By virtue of not having a product
**** That's why we want greybeards, lots of us.