OpenAI eyes $500 billion valuation in potential employee share sale: Report
Bloomberg was first to report the news.
The Microsoft-backed company aims to raise billions through the sale, with existing investors, including Thrive Capital, expressing interest in buying some of the employee shares, the source said.
Thrive Capital declined to comment on a Reuters request.
Separately, OpenAI is still in the process of raising $40 billion in a new funding round led by SoftBank Group at a $300 billion valuation to advance AI research, expand computational infrastructure and enhance its tools.
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Hindustan Times
23 minutes ago
- Hindustan Times
Decoding UK's OSA, ChatGPT adds emotional support, and pondering Windows' future
The UK's newly updated enforcements for the Online Safety Act (OSA) are worth having a conversation about, this week. Most of the online media coverage would lead you to believe that it's a new act that's been passed into a new law, but it isn't — the Online Safety Act received Royal Assent on 26 October 2023, some provisions came into force on 10 January 2024, while additional elements took effect on 1 April 2024. We're talking about this now, because the critical age verification requirements took effect on 25 July 2025, which means all online platforms accessible in that part of the world are legally required to implement "highly effective" age assurance measures. In fact, this will not have a UK-only fallout, because it could potentially reshape the digital landscape globally, much in the way the GDPR or General Data Protection Regulation of 2016 has had on how online platforms and services collect and handle user data, in subsequent regulations worldwide. OpenAI The mandatory age verification measures that came into place late last month, are meant to provide a substantial legal assurance of a user's age and consent, the idea being to reduce access to content such as pornography, or anything that encourages self-harm, suicide or eating disorders for instance, on the World Wide Web. Apple There are two sides to this coin. Tech companies and content creators are alarmed by the OSA's new sweeping requirements. If any site accessible in the UK—including social media, search engines, music sites, and adult content providers— does not enforce age checks to prevent children from seeing harmful content, they now face potential fines up to 10% of their revenue for non-compliance. This could very well pressure them into implementing invasive verification systems. Depending how a specific platform does it, methods include scanning your face, credit card, or an identity document, if you want to access content. UK's regulators have been at it for a while, a recent case in point being the Investigatory Powers Act, which we decoded in my Tech Tonic column recently which would have forced tech companies to disable active encryption methods, putting user data at significant risk. There are privacy and access implications of this, something digital rights advocates warn about, detailing that these measures have the potential to create an unprecedented surveillance infrastructure, with these massive databases of personal and biometric information inevitably vulnerable to breaches and misuse. Users must now choose between privacy and access, fundamentally altering the internet's traditionally open nature. 'The Act, which is now coming in enforcement stages exemplifies how well-intended laws can cause unintended consequences on other aspects of technologies. The mandatory use of accredited technology is bound to weaken end-to-end encryption which is the hallmark of a free digital society without which commerce or personal communications systems cannot work. Any of the current age verification methods cannot be imposed without addressing biometric surveillance creep, data breaches and misuse, and increased centralization of user data,' explains a spokesperson of Software Freedom Law Centre India ( in a conversation with us. 'The OSA's age assurance rules require platforms to use facial scans, upload IDs, or verify age through banking or telecom data. These measures raise serious privacy concerns and discourage online anonymity. Larger platforms are testing third-party software for this, but the risk does not disappear, it spreads. User data could now sit with multiple external vendors, increasing the chances of leaks or misuse,' points out Vikram Jeet Singh, Partner at BTG Advaya, a law firm. Possible global implications cannot be ignored, considering the OSA's impact extends far beyond British borders, potentially influencing online speech frameworks worldwide. There can be an argument that while it is effective in some form, it breaks the right to privacy and free speech, while also compromising cybersecurity. Countries such as India, already grappling with content regulation challenges, are likely to be closely watching the UK's approach as a potential model, or cautionary tale. The precedent set by Britain's age verification requirements could normalise similar measures globally, which alongside a fragmented internet where access to information depends on geography, also depends on a willingness to submit to digital surveillance. This is something the spokesperson details, 'Such laws generally have global ripple effects like the GDPR. Companies may choose to adopt UK-compliant policies to avoid the costs related to fragmentation. Countries will emulate such provisions to curb dissent and justify surveillance under the guise of child protection or moral regulation by the state.' What's the way forward? The UK's now complete Online Safety Act effectively represents a watershed moment for internet governance, confronted with often opposing scenarios of fundamental questions about digital rights and any government's commitment to protecting children. The intent of the UK government is commendable, in terms of what it is trying to achieve — the internet as a safe space for children. However, the immediate surge in VPN downloads in the UK on the Apple App Store and Google Play Store suggest, citizens aren't likely to play along. Does that potentially undermine the Act's effectiveness? EMOTIONAL SUPPORT OpenAI says that they are updating ChatGPT (irrespective of which model you use specifically) giving it an ability to detect mental or emotional distress. The AI company wants ChatGPT to work better for users when they want guidance and perhaps a pep talk, than pure facts or information. 'I'm feeling stuck—help me untangle my thoughts' is an example OpenAI mentions, among others, to indicate the GPT models will be more capable of listening to the reasoning of a user's thoughts, rather than just tokenise those words into a response. Newly added are also gentle reminders during long sessions to encourage breaks. OpenAI isn't building this out of its own hat, but instead suggests they've worked with over 90 physicians across over 30 countries (including psychiatrists, paediatricians, and general practitioners) to build custom rubrics for evaluating complex, multi-turn conversations, as well as engaging human-computer-interaction (HCI) researchers and clinicians to give feedback on how well they've identified concerning behaviours, as well as convening an advisory group of experts in mental health, youth development, and HCI. The company admits they haven't gotten it right earlier, case in point being an update earlier this year, which made the model respond in a tone that was too agreeable, bordering on saying what sounded nice instead of what was actually helpful. MAKING NOTES Notes In what is usually the most difficult quarter for iPhone sales, with the spectre of the traditional September refresh looming large, Apple has reported Q3 earnings higher than expectations. The company has reported quarterly revenue of $94 billion, up 10 percent year over year, a June quarter revenue record, and beating $89.3 billion expectations. Apple CEO Tim Cook again emphasised the importance of India, for Apple's growth trajectory. 'The world of mousing and keyboarding around will feel as alien as it does to Gen Z [using] MS-DOS,' the words of David Weston, Microsoft's Corporate Vice President of Enterprise & Security in what is apparently the first of Microsoft's 'Windows 2030 Vision' video series. What does this mean? Since he doesn't elaborate any further than this breadcrumb, I'll lay out the possibility for you — another attempt at Windows which is overloaded with AI, perhaps even more within the OS itself and the apps you use on the computing device, with some element of agentic features that'll utilise natural language understanding and context from a user's data as well as what's on the screen. Ready for the future? MEET'S GETTING SMART Google Meet Google Meet is getting a rather interesting new feature, and it may seem like there's some sorcery to it, instead it is more of attention to details. Google says that if you are now joining a Meet call from your own device such as a laptop, the video meeting platform can detect when you may be doing so in a large conference room-esque physical space. In an attempt to reduce or totally eliminate the problem of sound echo on such a call, Meet will suggest joining the call using something called a 'Companion Mode'. Mind you, this presently only works if you are joining a meet call from your laptop on the Google Chrome web browser — and rolls out for all Google Workspace customers with Google Meet hardware devices. Meet uses your laptop's microphone to intelligently know when you are in a room using an ultrasonic signal. 'This wayfinding feature helps ensure a seamless, echo-free start to your meeting. When you join using the highlighted Companion mode button, you will also be automatically checked into the correct room,' says Google, in an official post. Basically, this will require your Google Workspace admins (basically, your organisation's IT folks) to enable 'Proximity Detection' that will allow that hardware to detect nearby devices, as a feature on the Google Meet Hardware installed in a conference room (for this I am sure there will be typical inertia reasoned around 'compatibility' and 'security' to mask ineptitude). At this point, based on my experiences with IT folks, easier said than done. End of the story.
Time of India
42 minutes ago
- Time of India
JSW Neo Energy, Blackstone, other cos line up for Statkraft wind-down
JSW Neo Energy , Blackstone and KKR-backed Serentica Renewables have submitted binding financial bids for Statkraft's wind and solar energy assets in India on Wednesday, when the deadline for bids expired, according to sources aware of the matter. The bids were submitted after a three-month due diligence process. Norwegian government-owned Statkraft is exiting India and selling its assets in two lots. The first lot consists of the wind and solar assets. Bids for the second lot comprising hydro power assets are due on August 16. Adani Green Energy and Torrent Power are likely to bid for those, according to people cited earlier. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Statkraft has put a $1.5 billion enterprise value tag on the entire India portfolio. JSW Neo Energy, Blackstone and KKR declined to comment. Adani Green Energy and Torrent Power had not responded to ET's queries until press time. 'We were among the selected bidders for the Statkraft portfolio in April, post which we conducted our diligence. We are submitting our binding offers for Statkraft's wind and solar portfolio and are confident of closing this transaction,' said a Serentica spokesperson. Live Events Statkraft—Europe's largest renewable power company—announced its intention on October 23 last year to exit the Indian business. In a statement from its global chief executive officer Birgitte Ringstad Vartdal, the company said it was prioritising investments in Norway, Europe and South America. It had forayed into India in 2001. It owns wind and solar power assets in Rajasthan with 1.5 GW capacity. It also owns two operational hydro power plants at Malana and Allain Duhangan in Himachal Pradesh with both being 49:51 joint ventures with India's LNJ Bhilwara group. Its portfolio also includes two under construction hydropower assets at Tidong in Himachal Pradesh and Kedarnath in Uttarakhand, respectively. ET first reported on April 11 that as many as 15 entities including Adani Green Energy and Serentica Renewables were in the fray to acquire Statkraft's Indian assets.
Mint
an hour ago
- Mint
Mexico, Dominican Republic propose joint efforts to fight sargassum seaweed
MEXICO CITY, Aug 6 (Reuters) - The Dominican Republic's Foreign Minister Roberto Alvarez and top Mexican officials have proposed creating a bilateral roundtable to address the environmental impacts of sargassum seaweed on the countries' Caribbean coastlines, his office said on Wednesday. Hotel workers are struggling to keep beaches clean as mountains of pungent, decomposing sargassum accumulate on Caribbean coasts, releasing irritant gases, smothering marine ecosystems and hitting occupancy rates at seaside resorts. Atlantic sargassum blooms, a type of algae, have dramatically increased over the past decade, fueled by nutrient pollution exacerbated by deforestation, warmer ocean temperatures and changes in sea currents pushing the spread westwards into the Caribbean. "They proposed the creation of a bilateral inter-institutional roundtable between both countries' foreign and environment ministries to address the environmental threat posed by sargassum," the Dominican government said in a statement. The World Travel and Tourism Council estimates tourism could boost the economies of Mexico and the Dominican Republic by $281 billion and $21 billion respectively in 2025, both breaking fresh records and representing about 15% of GDP. In June, scientists at Mexico's UNAM university warned of sargassum levels close to double 2018 peaks, adding that some 10% - or 400,000 metric tons - could hit Caribbean coastlines throughout 2025. A quarter could arrive in Mexico, they said. Several nations are looking to repurpose sargassum into usable materials such as biofuels, fertilizers and bioplastics, but removing toxins and heavy metals such as arsenic from the seaweed is costly and research remains in early stages. There has been limited funding for projects seeking to repurpose sargassum, and the unpredictability of its blooms remains a barrier to investors looking for consistent harvests. (Reporting by Sarah Morland; Editing by Jamie Freed)
