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Many OpenAI investors don't believe in the singularity. Microsoft is demanding revenue-share from OpenAI right now. They see the power of the technology and naturally decide to invest in it, even if they're unpersuaded on mass automation or singularity. They want it to sell more subscriptions, speed up software development. It's the myopic facebook mindset of 'this technology could sell us so many short-form video ads' and tbf, that is true. AI is making huge amounts of profit for Facebook right now. Tiktok makes enormous amounts of money (in China) based off its algorithms which include LLM tech. AI is highly profitable right now and it is a sure bet that there will be further highly profitable offshoots from LLM technology, besides the singularity. They just require lots of investment to tap and we are still in an early-growth phase of a new market, whereas video is a lot more mature.
Older versions of Claude Sonnet could easily snipe redditors per the /r/changemyview experiments, obviously AI can make huge amounts of money for businesses.
OpenAI is valued at a mere $500-830 billion. The market cap of gold and silver is about $35 trillion. If OpenAI valuations were genuinely driven by belief in the singularity, it'd be worth a lot more than shiny rocks! The lightcone contains a hell of a lot of gold, a company with singularity-pilled investors would get everything money can buy even if they are just one of a few leading competitors.
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