On Monday, leading AI company OpenAI launched the latest version of its large language model (LLM) named “GPT-4o,” showing off its ability to receive “any combination of text, audio, and image and generates any combination of test, audio, and image outputs.”

The company boasts response times it claims are similar to human conversations and claims it has improved audio and visual comprehension. Demonstrations on their website include the new model singing lullabies, translating between languages, holding full-length conversations using sarcasm, commenting on the demonstrator’s room, among other things.

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The new update comes one year and two months after the GPT-4 update.

In his blog post on the update, OpenAI CEO Sam Altman wrote, “a key part of our mission is to put very capable AI tools in the hands of people for free (or at a great price). I am very proud that we’ve made the best model in the world available for free in ChatGPT, without ads or anything like that.”

The new update allows developers access to the API at half the price and twice the speed of the previous GPT-4 Turbo.

A February Goingvc article stated that the AI industry has doubled its value to $240 billion in three years, citing data from AltIndex. While industry leaders like OpenAI and Anthropic have received massive portions of this funding, there are a litany of smaller more narrowly-focused startups in the industry.

In an interview, Sam Altman warned AI entrepreneurs that their next update (GPT-5) could “steamroll” them.

Among seven leading stock performers, which have been dubbed the “magnificent seven,” nearly all are positioned for growth based on developments with AI.

Though OpenAI and Microsoft have a dramatic history, they plan to build a $100 billion dollar supercomputer named “stargate” together.

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