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AI model mania and the new chip gold rush

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Apple has filed a lawsuit against OpenAI, alleging the artificial intelligence lab stole trade secrets from former Apple employees.

AI model mania and the new chip gold rush

Key takeaways

  • Apple sued OpenAI for allegedly stealing trade secrets from former Apple employees.
  • SK hynix raised $26.5 billion in its U.S. public listing to manufacture high-bandwidth memory chips.
  • SambaNova raised $1 billion in funding, valuing the inference chip startup at $11 billion.
  • Anthropic signed a $19 billion AI data center lease with TeraWulf.
  • Apple pledged to buy $30 billion worth of U.S.-made chips from Broadcom through 2031.

Apple has filed a lawsuit against OpenAI, alleging the artificial intelligence lab stole trade secrets from former Apple employees. Meanwhile, the AI chip boom is driving massive financial activity: South Korea's SK hynix raised $26.5 billion in a blockbuster U.S. public listing, SambaNova secured $1 billion in funding at an $11 billion valuation, and Amazon launched a $25 billion bond sale to fund its AI infrastructure. Additionally, Anthropic signed a $19 billion AI data center lease with TeraWulf, and Broadcom secured a $30 billion chip supply deal with Apple running through 2031.

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In their words

“The bet is no longer on whether the technology works. It is on how fast an economy can be rebuilt around the assumption that intelligence is cheap”
John Furrier, Tech visionary and co-founder of SiliconANGLE Media

By the numbers

$26.5B
Amount raised by SK hynix in U.S. IPO
$30B
Value of chips Apple pledged to buy from Broadcom
$11B
Valuation of SambaNova after raising a billion dollars
19-fold
Samsung's forecasted operating profit jump driven by memory demand
4,800
Jobs cut by Microsoft globally

How it unfolded

  1. last month Microsoft released a flurry of seven AI models
  2. Thursday evening SK hynix raised $26.5 billion in U.S. IPO
  3. Friday morning SK hynix shares opened 14% above asking price
  4. Friday Apple sued OpenAI over alleged trade secret theft

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Source: siliconangle

Tagged #United States #Alex Karp #Fidji Simo #Joshua Achiam

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