Wondering if the AI bubble is set to pop? Safe Superintelligence (SSI) has just scored more than $1 billion in investor funding.
SSI was co-founded earlier this year by former OpenAI Chief Scientist Ilya Sutskever, and its employee numbers have barely cracked double digits. That hasn't stopped investors from pouring cash into the startup, and yesterday, SSI announced it had taken in $1 billion in funding.
The plan, according to Reuters, is to spend the money on hiring staff and buying computing power.
Exactly what those resources will do remains unclear at this stage. SSI intends to build safe superintelligence, describing it as "the most important technical problem of our time."
According to the company: "We are assembling a lean, cracked team of the world's best engineers and researchers dedicated to focusing on SSI and nothing else."
Yes, that's correct; a company that has just inhaled $1 billion in funding is using gaming slang to describe the caliber of employees it's seeking. We're sure that the AI it will eventually develop is going to be positively skibidi. Or whatever the word is when SSI finally delivers something.
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In May 2024, Sutskever announced he was leaving OpenAI and professed himself "excited for what comes next." Sutskever also said: "I'm confident that OpenAI will build AGI that is both safe and beneficial."
However, he still clearly felt the need to start another AI company with the stated goal of building a safe superintelligence.
Some estimates put the value of SSI at $5 billion following the investment, although the company itself has not commented. It is, however, an eye-watering sum to be poured into a business that has been around for just a few months, with barely enough employees to fill a minibus.
The investment amount clearly indicates the AI bubble has not popped just yet as investors fearful of missing out on the next big thing inject cash into development of the technology.
However, even though Sutskever has somewhat of a track record thanks to his time at OpenAI, for every billion-dollar bet made, others will inevitably fail. ®