logo
OpenAI staffers to sell $6 billion in stock to SoftBank, other investors, Bloomberg News reports

OpenAI staffers to sell $6 billion in stock to SoftBank, other investors, Bloomberg News reports

CNA2 days ago
Present and former OpenAI employees are looking to sell nearly $6 billion worth of the ChatGPT maker's shares to an investor group comprising SoftBank Group, among others, valuing it at $500 billion, Bloomberg News reported on Friday.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

NDR 2025: Developing human qualities key priority for schools in age of AI, says PM Wong
NDR 2025: Developing human qualities key priority for schools in age of AI, says PM Wong

Straits Times

time4 hours ago

  • Straits Times

NDR 2025: Developing human qualities key priority for schools in age of AI, says PM Wong

Sign up now: Get ST's newsletters delivered to your inbox In this age of AI, what really matters are human qualities that machines cannot replicate, PM Lawrence Wong said. Follow our live coverage here. SINGAPORE – Schools are working to help students become discerning users of technology, amid growing concerns that they may rely too much on artificial intelligence and take short-cuts. Prime Minister Lawrence Wong said there is unease that students may not make the effort to learn and master the fundamentals. Ultimately, the concern is that they may never learn how to think for themselves, he said on Aug 17 at his second National Day Rally at the ITE College Central in Ang Mo Kio. He cited an example of a teacher who noticed that his students' essays improved almost overnight, and later found out they had used AI chatbot ChatGPT to improve their writing. Earlier in his speech, he had spoken about how AI , which he called 'the defining technology of our time,' has begun to reshape Singapore's economy, changing companies and jobs at every level of society. While schools are working to strengthen their digital skills, in this age of AI, what really matters are human qualities that machines cannot replicate, PM Wong said. The Government is doing more to develop students' character, values, empathy and a sense of purpose, he said, preparing them not for exams but for life. More allied educators and teacher-counsellors are being deployed across schools and schools are also placing greater emphasis on character and citizenship education, he added. He said: 'This is the key priority for our school leaders and educators – and I hope parents will give them their full support.' The Government wants students to have the curiosity to keep learning, the empathy to care for those around them and the confidence and resilience to take on the challenges life throws at them, he added. With technology advancing so quickly, some parents may feel the need to start their children earlier to help them learn faster and cover more content from a younger age, he noted. But learning has never been just about packing in more content and knowledge, he said. 'It's about developing the ability to think, to solve problems and to keep learning throughout life.' The reality is that Singaporeans now live in a digital age, and there are huge upsides to being digitally connected, PM Wong said. These include greater access to knowledge, more avenues to express themselves and new ways to connect. While Singaporeans must make full use of these technologies, they must also be clear-eyed about the downsides and manage them carefully. This means striking the right balance between protecting youth from potential harms and equipping and empowering them to fully exploit the benefits of technology, he said. As children grow older, they will need to navigate the digital world with confidence, he said. Singapore must help them build 'digital resilience' so they understand the risks and gain the skills and know-how, and learn to use technology safely and effectively, PM Wong said. In schools, teachers play an important role in teaching students about cyberwellness and instilling good digital habits, he added. More importantly, they help students become discerning and responsible users of technology, he said. 'That means not to blindly trust everything the internet or AI says. But to question, reflect and form their own judgements.' PM Wong said the teacher who realised his students had used ChatGPT could have banned the chatbot outright but instead turned it into a learning opportunity. He got the class to read and discuss the AI-generated essays, and challenged them to not just accept what the AI had given them but to critique it and find ways to make it better. PM Wong said: 'That's the kind of teaching no AI can ever replace.' Another educator Ms Francesca Lau – a Chinese teacher at Corporation Primary - created an AI chatbot to help her pupils practise Mandarin and get feedback, said PM Wong. Ms Francesca Lau, a Chinese teacher at Corporation Primary, created an AI chatbot to help her pupils practise Mandarin and get feedback. PHOTO: MDDI Efforts are also underway to strengthen digital skills of students at the tertiary level, he said, not just for those studying computer science or engineering but for all disciplines. He said: 'In the past, digital skills meant knowing how to use a word processor or a spreadsheet. Now we are teaching students to build and use AI models – to generate ideas and solve problems in their field. 'This way, they will be better equipped for a world where technology is embedded in every profession.' Watch PM Wong's National Day Rally speech here:

One of America's Largest Semiconductor Companies Set to be Nationalized as Trump Admin Launches Its Own 'Manhattan Project'
One of America's Largest Semiconductor Companies Set to be Nationalized as Trump Admin Launches Its Own 'Manhattan Project'

International Business Times

time6 hours ago

  • International Business Times

One of America's Largest Semiconductor Companies Set to be Nationalized as Trump Admin Launches Its Own 'Manhattan Project'

The Trump administration has kicked off its own version of a "Manhattan Project" following reports that one of the country's biggest companies may be taken over by the government. Intel, the largest semiconductor fabricator in the U.S., has been in discussions with Donald Trump regarding a possible government ownership stake. Although the exact share being sought by Intel has not yet been disclosed, government takeovers of private companies are generally considered a measure of last resort during times of crisis. During the 2008 financial meltdown, the U.S. government took control of several banks, and in World War II it took control of several major logistics companies across the United States. Trump's Big New Project Intel's CEO Lip-Bu Tan X The latest move stems from concerns that the U.S. is overly dependent on TSMC, a Taiwan-based chipmaker, even as China continues to issue threats of invading the island. Such an invasion could cripple America's ability to compete in the rapidly expanding semiconductor market, especially as demand soars due to artificial intelligence. Although Intel's AI chips lag behind those produced by NVIDIA and AMD, the company holds a strategic advantage because it both designs and manufactures its own products. Semiconductor Wikimedia Commons Trump's plan is aimed at strengthening national security by bringing chip production back to U.S. soil. "This feels like the Manhattan Project - or the run-up to World War II," MIT AI computer scientist Dave Blundin said. "It's every bit as important as the space race was, as the nuclear arms race was. Actually, it's more important." Intel's cutting-edge semiconductor manufacturing capabilities could help the U.S. reduce its dependence on overseas chip factories—particularly those in Taiwan, which controls over 60 percent of the global market—while supporting artificial intelligence, national defense, and the broader economy. Intel Reuters Negotiations are still underway, with details continuing to take shape. According to a source cited by Bloomberg, the plan would involve the U.S. government purchasing a stake in the company. However, another insider stressed that these discussions are not guaranteed to result in an agreement and could end without a deal. Tech and AI specialists speaking on Diamandis' Moonshots podcast compared the initiative to a modern-day "Manhattan Project," describing it as a kind of "national survival strategy." "The reason the US needs to protect Taiwan fundamentally... is because the fabs are there. If the fabs all move to the US, then why would the US defend Taiwan?" Blundin said. Concerns Grow Over Nationalization Some have voiced concerns over the move to nationalize the company, with one observer noting: "They're putting the whole industry on a kind of war footing, like mobilization for conflict, except the battleground is supply chains and chip fabs." Donald Trump X In a statement to Bloomberg, Intel declined to address its talks with the Trump administration but said it remains "deeply committed to supporting President Trump's efforts to strengthen US technology and manufacturing leadership." "We look forward to continuing our work with the Trump administration to advance these shared priorities, but we are not going to comment on rumors or speculation," the company added. The move comes after two AI firms agreed last week to give 15 percent of their chip sales revenue from China to the U.S. government in return for export permits. According to three people with knowledge of the matter, NVIDIA and Advanced Micro Devices (AMD) struck this first-of-its-kind agreement with the White House to market and distribute their semiconductors in China. The agreement could generate over $2 billion for the U.S. government, though Trump has not specified how those funds would be allocated, according to the New York Times.

Canadian home sales rise for fourth straight month as buyers return
Canadian home sales rise for fourth straight month as buyers return

Business Times

time8 hours ago

  • Business Times

Canadian home sales rise for fourth straight month as buyers return

[OTTAWA] Canadian home sales rose for a fourth straight month as growing confidence the economy will weather US tariffs draws more buyers back into the market. National home sales were up 3.8 per cent in July from June, bringing the total gain in transactions since March to 11.2 per cent, according to data released on Friday (Aug 15) by the Canadian Real Estate Association. That boost was led by the country's largest city, Toronto, which has now seen transactions rebound 35.5 per cent since March, though the total number remains low by historical standards. Prospective homebuyers have been returning to a market that has tipped more in their favour. The total number of properties up for sale across the country last month was 10.1 per cent higher than last year. And the benchmark price was C$688,700 (S$639,464), unchanged from the month before and 3.4 per cent lower than a year earlier. That decrease was smaller than in June, and the board expects year-over-year declines to continue shrinking, it said in a statement. 'The shock and maybe the dread that we felt back in February, March and April, seems to have faded,' Shaun Cathcart, the real estate board's senior economist, said in an interview. 'If they're not concerned about their future employment the way they were maybe five months ago, I think we're going to see more people come off the sidelines.' Fears of recession from US President Donald Trump's trade war slowed Canada's economy and its housing market in the first part of 2025. But economic growth has held up, in large part because much of the pain from tariffs has been confined to industries singled out for levies, including autos, steel and aluminum. BLOOMBERG

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store