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OpenAI on pace to generate $1B+ in NTM revenue, China to approve first genAI tools for public use

The Information sources: OpenAI is on track to generate more than $1B in NTM revenue, up from ~$28M in 2022 and far ahead of prior revenue projections - Link

Bloomberg sources: The Chinese government will approve its first set of generative AI tools for public use as soon as this week; Baidu announced that Ernie Bot, its ChatGPT-like product, will be publicly available on 8/31 - Link

Hyperproof, a Seattle-based SaaS startup offering risk management and compliance tools, raised a $40M round led by Riverwood Capital - Link

Samsung launched an AI-powered food and recipe app called “Food” built on a database of 160K+ recipes on Whisk, which Samsung acquired in 2019 - Link

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Jason breaks down the exit market for LPs (8:57), Instacart and Klaviyo’s IPOs (22:13), writers suing OpenAI and Meta (50:15), and more! - Link

Mediafly, a Chicago-based startup building a sales enablement platform, raised $80M in a round led by BIP Ventures; the company counts Adobe, ADP, Honeywell, and others as customers - Link

Bloomberg sources: Apple is testing a 3D-printed version of its stainless steel Apple Watch Series 9 to ramp up production while lowering costs and increasing sustainability - Link

FT sources: Government-backed Chinese hackers infiltrated Japan’s national cybersecurity agency for up to nine months - Link

Sony is raising the price of PlayStation Plus subscriptions from $60 to $80/year for the Essential plan, from $100 to $135/year for the Extra plan, and from $120 to $160/year for the Premium plan starting on 9/6 - Link

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