Source: Fortune
Summary
Fortune’s daily newsletter highlights various news stories, including the inside story of how Demis Hassabis lost the CEO role at DeepMind, OpenAI’s plateauing revenues, and the lack of profits at AI labs. Additionally, the newsletter mentions the ongoing tensions between Iran and the US, the current state of US unemployment, and the Federal Reserve’s recent actions.
Our Reading
The numbers tell one story.
Demis Hassabis is out as CEO of DeepMind. OpenAI’s revenue growth has stalled. AI labs are struggling to turn a profit. Meanwhile, the US and Iran engage in a high-stakes standoff. The US unemployment rate would be 5% if people weren’t giving up on work. The Fed’s Warsh wins a round against his critics.
The CEO shuffle at DeepMind is just the latest sign that AI labs are still figuring out how to make money.
