Seeking Alpha’s roundup of statements, announcements, and remarks that could impact the technology sector.
- Disney (DIS) said it has agreed to invest $1 billion in OpenAI (OPENAI) along with allowing its characters to be used in fan videos generated by OpenAI’s Sora app.
Under the agreement, Disney will grant a three-year license to Sora that will allow users to access 200 Disney characters to create short videos. The deal does not cover any Disney character voices or talent likeness.
In addition to its $1 billion investment, Disney will also receive warrants to buy additional equity and become an OpenAI customer, according to the companies.
“Technological innovation has continually shaped the evolution of entertainment, bringing with it new ways to create and share great stories with the world,” Disney CEO Robert Iger said in the statement.
“The rapid advancement of artificial intelligence marks an important moment for our industry, and through this collaboration with OpenAI we will thoughtfully and responsibly extend the reach of our storytelling through generative AI, while respecting and protecting creators and their works,” Iger added.
OpenAI, which was co-founded by Tesla (TSLA) CEO Elon Musk, counts Microsoft (MSFT) as a major backer.
- Rivian (RIVN) said it’s developed its own chip to replace Nvidia’s (NVDA) as part of an effort to equip its vehicles with enhanced autonomous driving capabilities.
The EV maker will equip its new R2 SUVs with Rivian Autonomy Processor 1 chips, along with a new lidar sensor and AI model developments. The chips will be produced by Taiwan Semiconductor (TSM).
“This is not a bet one takes lightly, this is a huge commitment that’s taken us years,” Rivian CEO RJ Scaringe told Bloomberg. “Usually, you can’t lower cost and improve performance. But here, we improved performance dramatically and simultaneously lowered cost by hundreds of dollars per vehicle.”
Starting in 2027, Rivian will begin offering software aimed at allowing drivers to operate the vehicle without needing to keep their hands on the wheel and eyes on the road, Bloomberg said.