OpenAI aims to stay ahead of rivals with new GPT-5 technology
OpenAI has launched GPT-5, a major ChatGPT upgrade that's faster, more accurate, and better at reasoning. It powers the free version, enabling human-like conversations and rapid app creation. OpenAI also released open-source models, seeks $40 billion funding, and faces a copyright lawsuit.
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Mint
3 hours ago
- Mint
Gamblers now bet on AI models like racehorses
Now that AI developers are getting paid like pro athletes, it's fitting that fans are placing big bets on how well they're doing their jobs. On Kalshi, Polymarket and other sites where people wager 'predictions" on real-world events, gamblers lay down millions each month on their picks for AI's top model. The AI arms race is playing out in plain sight on social media, ranking sites and obscure corners of the internet where enthusiasts hunt for clues. The constant buzz makes the topic appealing for wagers, though not every scrap of information is meaningful. Foster McCoy made $10,000 in a few hours in early August by betting against the success of OpenAI's GPT-5 release. The 27-year-old day trader noticed people were misreading an online ranking site that appeared to hype GPT-5, so he put $4,500 on its competitor, Google's Gemini, to be 'Best AI This Month." As more bettors fell in line with his call, he cashed out. That's just another day for McCoy, who has traded $3.2 million on Kalshi since the start of 2025—making $170,000. He's part of a growing contingent of bettors making hundreds of trades a week on AI markets, on a range of wagers such as 'Best AI at the end of 2025," 'AI regulation becomes federal law this year," and 'Will [Chief Executive] Sam Altman be granted an equity stake in OpenAI this year?" Trading volume across AI prediction markets has surged to around $20 million this month. Kalshi, the only platform currently available in the U.S., is seeing 10 times the volume on AI trades compared with the start of the year, a spokesman says. Each bet, or 'contract," is priced in cents to reflect the odds: McCoy bought thousands of Gemini contracts at around 40 cents, meaning it had a 40% chance of winning. If the bet had settled and Gemini won, McCoy's 40 cents would become a dollar. If Gemini lost, McCoy would lose it all. But much of the action happens before the final outcome. As more people piled into the Gemini bet, the contract price rose. McCoy sold when it had reached 87 cents. It's like betting on a sports match, only with the option to cash out when the odds rise in favor of your bet. 'You're just betting against what the other guy knows," says McCoy, who credits his success to 'being chronically online." He trades from home on a triple-monitor setup tuned to the holy trinity of AI betting: X, Discord and LMArena, a leaderboard where people rate AI model performance in blind tests. Social-media beefs can be gold for gamblers. After GPT-5's debut, a flurry of Elon Musk posts claiming the superiority of his xAI Grok chatbot sent the 'Grok to Win" market up more than 500% within hours. Before long, it had fallen nearly all the way back down. Bettors end up down rabbit holes hunting for more obscure tidbits. Harvard undergraduate Rishab Jain often scans X accounts of lesser-known researchers. The day before GPT-5's release, OpenAI's Sam Altman posted an image of the Death Star from 'Star Wars." When a researcher from Google's DeepMind replied with an image of the killer globe under attack, Jain read it as a sign of confidence from Gemini's makers. Jain also scrapes source files from Google's apps and monitors public GitHub repositories tied to its products, looking for back-end changes that might signal a soon-to-be-released Gemini model. 'I'm almost obsessively up-to-date with what's going on in this world," Jain says. 'Google has so many products that need to integrate a new model before it officially launches, and you can see those changes happening in the back end if you know where to look." Since starting in June, he has won $3,500. Strategies vary. Some bet on the big industry players, others buy low on less-known or soon-to-be-updated models. Some compare odds on Kalshi and Polymarket to find arbitrage opportunities in the odds. As volume for these AI trades continues to grow, the incentive for good information will only increase, and the squeeze on casual bettors will get tighter, says Robin Hanson, a professor of economics at George Mason University. 'When you have better information in these kinds of markets, you can make better decisions," Hanson says. 'If you know a little more, you make more money." For now, the markets still draw a mix of sharks like McCoy and Jain along with casual bettors. 'I'm just a dude that likes tech and has some time and money," says James Cole, a 35-year-old who recently shut down a company he founded. 'I'm speculating with mostly instinct and 10 minutes of research." He says he's up for the year…so far. Write to Ben Raab at
News18
5 hours ago
- News18
US Big Tech Firms Accused Of Bending H-1B Rules With Newspaper Job Listings: Report
Last Updated: In recent months, big tech companies such as OpenAI and Instacart have put job ads, asking applicants to send their resumes to the immigration or 'global mobility' departments. Companies that hire H-1B foreign workers and want to sponsor them for a green card must advertise those jobs to American workers. But a media report said that the job ads placed in local newspapers are aimed at immigrants instead. In recent months, big tech companies such as OpenAI and Instacart have put job advertisements in the San Francisco Chronicle, asking applicants to send their resumes to the immigration or 'global mobility" departments, Newsweek reported. a website that looks for H-1B job postings to share with Americans, told Newsweek that most Americans don't even realise big tech firms are regularly discriminating against them. 'At a time when unemployment for college graduates is shifting sharply upward, it is important to call out hiring discrimination that could keep Americans unemployed," they said. also said that recruitment for these roles is done separately from the firms' standard recruitment process. 'These unusual application methods are likely to drive fewer applications than normal processes like posting ads on the company job board or on mainstream career sites like LinkedIn," they said. Another tech company, Instacart, advertised several jobs and also asked applicants to apply through a similar department. Udemy, the online learning platform, posted a job for a Director of Marketing Analytics and Data Science, telling applicants to send their resumes to 'immigration@ according to the Newsweek report. The H-1B program lets US companies, especially tech firms, hire skilled foreign workers for specialised jobs. A large number of H-1B visas go to Indian nationals each year, and the programme is an important way for many students from US universities to move into full-time jobs. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
6 hours ago
- Mint
Fired by Elon Musk, ex-Twitter CEO Parag Agrawal launches AI startup, Deep Research API
Former Chief Executive Officer of Twitter (now known as X), Parag Agrawal, in a social media post announced that he has launched a new artificial intelligence (AI) venture named 'Deep Research API' in efforts to take over ChatGPT in the world AI development race. In the post, Agrawal said that the first goal of the venture is to 'outperform' both humans and all leading models including GPT-5 from Open AI. He also called the target two of the hardest benchmarks to beat in the industry. "We launched our Deep Research API - it's the first to outperform both humans and all leading models including GPT-5 on two of the hardest benchmarks," said Agrawal in his post on LinkedIn. The former Twitter boss also highlighted that his company is already powering millions of research tasks on a daily basis for ambitious startups and public enterprise companies. Parag Agrawal is the founder of the AI startup, Parallel Web Systems Inc., which is based in Palo Alto, California, United States. He said that the company offers automation facilities which companies use to carry out traditionally-human workflows with 'exceeding human-level accuracy. "We already power millions of research tasks every day, across ambitious startups and public enterprises," said Agrawal in his post. Parag Agrawal is well-known in the industry for serving as the CEO of the social media giant, Twitter. Elon Musk fired Agrawal after taking over the company in 2022. Agrawal started out his career as a Researcher at Microsoft in 2006, and after a few months, he shifted to the same position at Yahoo. In 2009, he again returned to Microsoft Corp.; however, after a brief run with the company, he joined the US-based telecom giant, AT&T. In October 2011, Agrawal finally joined Twitter as a Distinguished Software Engineer and after serving for over six years, he became the Chief Technology Officer (CTO) of the global giant. After spending over four years as the company's CTO, Parag Agrawal was promoted to the CEO role in November 2021. According to his LinkedIn profile, Parag Agrawal was from the Atomic Energy Central School in India, and later finished his graduation from the Indian Institute of Technology, Bombay with a Bachelor's in Technology in Computer Science and Engineering. Agrawal in 2005 finished his Doctor of Philosophy (PhD) in Computer Science from the Stanford University in United States.
