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šŸ¤– AI reels from Silicon Valley Bank's collapse

PLUS: How much Microsoft spends on running ChatGPT

Author

Jameson Zaballos
March 14, 2023

Happy AI Tuesday.

Our hearts go out to any startup affected by the recent SVB news (covered later in this article.)

Weā€™re glad your funds are safe.

šŸ¤– Top Stories

šŸ¤Æ How much Microsoft spends on powering ChatGPT

Source: Microsoft

9-figures. Hundreds of millions of dollars.

Thatā€™s how much it costs to build the core infrastructure for ChatGPT.

In case you were wondering.

Microsoft has an ungodly amount of AI infrastructure. Good thing, too. That's infrastructure to power ChatGPT, Bing AI, Github Copilotā€¦you get the idea.

Want a visualization? They needed tens of thousands of localized GPUs to make it happen.

Trust us, add this one to your reading list. Their blog post outlines the massive technical challenge behind building for AI at scale.

Whatā€™s that quote about selling pickaxes during a gold rush?

šŸ˜¬ AI is already making healthcare decisions

Hi, Iā€™m your new AI doctor, and, well, itā€™s not looking good.

An AI might be making your healthcare decisions without you even knowing it.

An investigative report from Statnews revealed just how much insurance companies use AI. Those decisions are behind the scenes, about coverage and when to cut it off from patients.

Medicare Advantage is a program in the US offering lower cost healthcare coverage for senior citizens. The tradeoff is there is much more leeway for the program to deny coverage to patients.

The report outlines how companies calculate coverage based on historical data, using AI. Let's say AI calculates that a 67-year-old woman with a certain set of conditions needs 13 days of recovery from a procedure. Thatā€™s what the program offers. Regardless of the actual recovery time. And appeals can take years.

Now, Data science is no new concept to insurance companies. Actuarial medicine is an old profession.

What's new is the role of AI. Healthcare is controversial enough. Applying AI-based decision making is a step in a new direction.

ā™„ļø AI startups everywhere breathe sigh of relief

As a lot of you noticed, there wasnā€™t a lot of AI news over the weekend.

Thatā€™s because Silicon Valley bank collapsed.

Itā€™s not the biggest bank in the world. But it banked with A TON of startups. So when it failed Friday, and the FDIC took it over, a lot of them panicked.

Why the panic?

See, the FDIC insures any bank account up to $250k. An account will receive that amount of money, from the FDIC, if a bank fails.

Most startups keep more than that in cash.

Startups went from ā€œthings are fineā€ to ā€œI canā€™t pay my employees next weekā€ in about 24 hours.

The community responded well. OpenAI CEO Sam Altman personally offered to send money to affected companies, too.

Now, thankfully, the Fed stepped in and guaranteed all deposits.

Every customer will have full access to their funds, no matter how large.

But many say startups - job creators - held their collective breaths over the weekend.

Weā€™re glad that these companies are okay.

šŸ˜Ž AI tools, links, guides

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šŸ¤– Got feedback for us?

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