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- 💰 OpenAI Reaches $100bn by 2029?
Plus: State of Crypto Report 2024
Read time: 5 minutes
AI and crypto are getting crazier by the day! An AI agent just made a $150 million meme coin, and AI is shaking up the entire crypto world. What is truly happening? Let’s find out with us.
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AI REPORT
💰 State of Crypto Report 2024
The 2024 State of Crypto report shows how much has changed in just two years—crypto is now a key policy topic, with major tech upgrades and evolving trends among builders and users.
Key takeaways:
Crypto activity reaches record levels: Active crypto addresses have surged, led by Solana, NEAR, and Base. With 30-60 million monthly active users, global mobile wallet adoption continues to grow.
Crypto becomes a political issue: Crypto is now a key topic ahead of the U.S. election, with swing states like Pennsylvania and Wisconsin showing increased interest. Bitcoin and Ethereum ETP approvals and bipartisan support for the FIT21 Act mark major policy milestones.
Stablecoins secure product-market fit: Stablecoins are driving global payments, processing over twice the volume of Visa. With 99% pegged to the USD, they reinforce the dollar’s influence globally.
AI and crypto converge: 34% of crypto projects now integrate AI, addressing key AI challenges like democratizing access to compute power.
New onchain apps emerge: Lower transaction costs have enabled new applications like social networks, NFTs, and blockchain-based games, expanding crypto’s reach.
Why it matters: The crypto world has made big progress in policy, technology, and user growth. Stablecoins are stronger, new apps are emerging, and AI is becoming part of crypto. One great new product could change everything, just like ChatGPT did.
TODAY IN AI
AI HIGHLIGHTS
💻 Nvidia quietly launched Llama-3.1-Nemotron-70B-Instruct AI model outperforming OpenAI GPT-4o and Anthropic Claude 3.5 Sonnet in benchmarks signaling shift from hardware to software.
🤖 Ministral 3B and 8B models offer 128000 token context window for on-device tasks like translation and robotics available through La Platforme.
🎵 Adobe's Project Super Sonic uses AI to create video sound effects from text prompts object recognition and voice imitation
🎭 AI-generated deep fakes of politicians like Kamala Harris and Donald Trump flood the internet raising concerns about voter confusion in upcoming elections
📱 Apple introduces new iPad mini with A17 Pro chip offering 30% CPU boost 25% GPU jump and Apple Intelligence starting at $499 available October 23
💎 Marc Andreessen sent $50,000 worth of Bitcoin to the AI agent Truth Terminal, and the coin rapidly increased in value, reaching $150M. In reality, humans were behind the meme coin, not the AI.
DAILY AI FUNDRAISING
PropTech startup Lamarr.AI raised $1.1 million in pre-seed funding to launch its innovative building diagnostics technology. Backed by Hazelview Ventures, it uses AI and drones to detect building defects faster, reducing costs and carbon emissions.
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AI QUICK HITS
🔥 A fireside chat with Sam Altman OpenAI CEO at Harvard University (Link)
🎥 A24's ‘The Legend of Ochi’ director shuts down AI rumors (Link)
💧 Gatorade uses AI to design your personalized squeeze bottle (Link)
🛡️ Anthropic introduces new safeguards in Responsible Scaling Policy (Link)
🛑 NYT sends ‘cease and desist’ to AI startup Perplexity over content use (Link)
AI CHART
OpenAI’s projected revenues have recently surfaced, giving us a glimpse of their growth plans. Here are some key takeaways from their latest numbers and what they could mean for the future of AI.
ChatGPT leads revenue: ChatGPT already makes 75% of OpenAI’s revenue, with strong growth expected, including from business use.
Slow API growth: OpenAI's API revenue is projected to grow slowly, from $1 billion to $3 billion by 2026, raising questions about future model performance.
New products in 2025: OpenAI expects to launch new products in 2025, potentially doubling API revenue. Exciting possibilities like search or partnerships could be on the way.
These projections offer a fascinating peek into OpenAI’s future. ChatGPT is the clear leader for now, but new products in 2025 could open up even bigger opportunities. Keep an eye on what happens next!
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The AI Fire Team
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