Sam Altman rejoins OpenAI as CEO | FrontEdge $10 million raise

ARTIFICIAL INTELLIGENCE

Sam Altman rejoins OpenAI as CEO

Wednesday morning began with OpenAI releasing a statement that it has reached an agreement in principle for Sam Altman to return as CEO with a new initial board of Bret Taylor (Chair), Larry Summers, and Adam D’Angelo.

This ended the chain of events that started on Friday last week when Sam Altman was dismissed from the company he co-founded.

Here is a recap:

Fri: OpenAI fires Sam Altman and appoints Mira Murati interim CEO

Sat: Microsoft/OpenAI investors try to get him back

Sun: OpenAI hires Emmett Shear as interim CEO/Microsoft hires Altman

Mon: ~750/780 OpenAI employees tell board to resign

Tue: Altman in talks with the board over return

Wed: Altman back as CEO with new board appointed

Elon Musk says xAI’s chatbot ‘Grok’ will launch to X Premium+ subscribers next week

First released on November 4 to select testers, Grok is Musk’s answer to OpenAI’s ChatGPT, Google’s Bard. Elon Musk says the chatbot could launch next week. The addition could help juice sign-ups for X’s Premium subscription….read more

ChatGPT voice now available to all free users

OpenAI announced that ChatGPT voice is now available to all free users. This feature was only made available to ChatGPT Plus and Enterprise users when it was first introduced in September this year…..read more

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INVESTMENTS

FrontEdge Secures $10 Million in Funding to Fuel African Cross-Border Trade Growth

FrontEdge, a Nigerian fintech operating out of Lagos, has successfully raised $10 million in a seed round, with over 70% contributed through debt financing. The funding aims to drive the expansion of African cross-border trade. Established in 2021 by Moni Alli, a former McKinsey consultant with a background in digital transformations for tier-one banks, FrontEdge specializes in providing SME exporters and importers with working capital and software tools for seamless cross-border and international transactions…..read more

Cameroonian Health Startup Waspito Secures $2.5 Million Seed Extension to Expand Telemedicine Services

Cameroonian health startup Waspito has successfully raised a $2.5 million seed extension in a funding round led by DP World, with participation from investors including Newtown Partners, Saviu Ventures, AAIC Investment, Axian Ventures, and CFAO’s Health54. This brings to $5.2 million raised since last year’s $2.7 million.

This funding will support Waspito’s growth initiatives, particularly in expanding its telemedicine services in the Francophone region. The startup, founded in early 2020 by Jean Lobe Lobe, focuses on providing accessible healthcare services through its health-focused social network……read more

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SOCIAL MEDIA

Now everyone can download Instagram Reels from public accounts

Instagram boss Adam Mosseri shared on his broadcast channel that the ability to save reels posted by all public accounts to your camera roll is now available globally.

After some testing, Mosseri announced this was live in the US in June, and now it’s everywhere. Similar to TikTok, downloads are available under the share button, and any reel you download will be watermarked with the poster’s Instagram name...…..read more

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OTHER STORIES

Binance sees $956 million in outflows after Zhao steps down to settle US probe

Investors pulled about $956 million from crypto exchange Binance over the past 24 hours after its chief, Changpeng Zhao, stepped down and faced prison time after pleading guilty to settle a years-long U.S. illicit finance probe.

The deal, in which Binance will pay $4.3 billion to U.S. authorities, raises questions over the future of the world's largest crypto exchange and marks another blow for an industry beset by scandals. Zhao has been replaced by Richard Teng, a senior Binance executive who joined in 2021, the company said.…….read more