No Need to Fear, Safe Superintelligence Is Here

Author

Noel Moldvai
June 20, 2024

Good Morning! Things are stirring in the AI world as OpenAI co-founder Ilya Sutskever is up to no good announcing his new AI startup. Europe, on the other hand is trying to figure out how to compete with the US dominance on AI innovations and market share. Something that isnt AI… Lightspeed is the latest and greatest to jump on the secondary markets train.

TL;DR

  • OpenAI co-founder Ilya Sutskever launches new AI startup, Safe Superintelligence.

  • Europe seeks to stay competitive in the AI era.

  • AI hype stocks see significant declines this year.

  • Lightspeed Venture Partners pivots focus to secondary markets.

OpenAI co-founder, Ilya Sutskever has a new gig.

OpenAI co-founder Ilya Sutskever has launched a new AI startup, Safe Superintelligence (SSI), focused exclusively on AI safety. Joined by Daniel Gross and Daniel Levy, SSI aims to develop safe superintelligence without commercial pressures. Sutskever, who recently left OpenAI, was involved in the brief ousting of CEO Sam Altman but has since apologized.

Europe Seeks to stay Competitive in the AI Race

Peter Sarlin, CEO of Helsinki-based Silo AI, warns that AI dominance by US models may erode European social norms and economic value. Europe pushes for "AI sovereignty" to control its digital infrastructure, but lags behind US and China in AI capabilities. Investments in AI and supercomputers are increasing, but Europe's lack of major tech companies and venture capital funding remains a significant hurdle.

Most Hyped Up AI Stocks have Since Fallen

Stocks hyped by artificial intelligence last year have mostly declined in 2024. While high-profile companies like Nvidia have soared, many others have fallen as investors demand concrete results. This shift reflects a more discerning market, distinguishing between genuine AI beneficiaries and speculative hype.

Lightspeed Is Officially on the Secondaries Train

Lightspeed Venture Partners is shifting focus to the secondary market due to a venture capital slowdown. Applying to become a registered investment adviser, Lightspeed aims to trade secondary markets more extensively. This move addresses the need for liquidity amidst fundraising and exit challenges, reflecting broader trends in the venture capital landscape.

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Until next week!

-Noel