10.3.2024

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OpenAI Doubles Valuation

Leading artificial intelligence startup OpenAI raised $6.6B in the largest venture capital round in history, doubling its market valuation to $157B. Thrive Capital led the round with $1B, alongside Microsoft, Nvidia, SoftBank, and more. The funds are contingent upon the company's transition from a nonprofit to a for-profit entity within two years. Investors were also asked to avoid funding major rivals in the industry.

The fundraising round comes amid departures of high-profile executives in recent months (see list) and continued tumult over the direction of the company. Launched in 2015 as a nonprofit focused on researching general artificial intelligence, the company has shifted toward designing and launching products since its groundbreaking release of ChatGPT in November 2022. Former employees have cited safety issues with OpenAI's newest AI models as a major source of division within the company.

ChatGPT claims over 250 million monthly users and 10 million paid subscribers at an annualized revenue of $4B amid billions in losses. Watch an overview here.

Mouse Brain Aging

Researchers have identified a gene explaining why mouse brains slowly lose the ability to regenerate neurons as they age, according to a new study. The findings raise hopes for potential treatments that rejuvenate brain cells in humans and slow or even halt some forms of neurodegeneration.

As brains age, they may rely on specialized neural stem cells to produce new neurons—a process known as neurogenesis. Over time, these stem cells can become inactive, resulting in cognitive decline and preventing recovery from things like strokes. In the study, researchers used CRISPR gene editing (watch overview) to search through roughly 23,000 genes and probe their impact on brain aging in mice. The group zeroed in on one specific gene, Slc2a4, involved in the metabolism of glucose. 

The findings suggest the presence of glucose around old neural stem cells may contribute to their inactivity and add to the body of research between metabolism and age-related cognitive decline (see example).

Perry Doctor Pleads Guilty

A California doctor pleaded guilty yesterday to conspiracy to distribute ketamine to the late actor Matthew Perry. Dr. Mark Chavez is one of five people charged in the “Friends” actor's death (see previous write-up).

Chavez acknowledges operating a now-defunct ketamine clinic, which he used to sell drug-infused lozenges to Perry’s physician. The two allegedly conspired on how much to charge Perry for the hallucinogen, with others—including a friend of the actor and his personal assistant—also charged in the alleged scheme. Ketamine is a Schedule III controlled substance; the levels found in Perry’s bloodstream at the time of his death were on par with those used on patients during general anesthesia. 

There are an estimated 500-750 ketamine clinics throughout the US, wherein physicians administer the drug to treat depression, anxiety, and pain. Overdose deaths solely from ketamine are rare; most related deaths are attributed to the drug being combined with other substances. 

In partnership with EnergyX

Last Day to Join GM on This 'Unlisted' Stock

In partnership with EnergyX

Meeting the Projected 20X Lithium Demand

Each EV battery needs ~70 kg of lithium—10,000x the amount of a smartphone. With more than 1 billion EVs projected on roads by 2050, current lithium production can’t meet soaring demand. 

Enter EnergyX. Their tech can extract up to 300% more lithium than traditional methods, earning them $100M+ of investments from GM and others. They also just announced Project Lonestar, a US lithium plant supported by a $5M DOE grant. Join EnergyX as a shareholder before their raise ends tonight at midnight PST.*

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