Pondering Machines Lab, the secretive AI startup based by OpenAI’s former chief expertise officer Mira Murati, has closed a $2 billion seed round, in keeping with The Financial Times. The deal values the 6-month-old startup at $10 billion. 

The corporate’s work stays unclear. The startup has leveraged Murati’s status and different high-profile AI researchers who’ve joined the staff to draw buyers in what could possibly be the biggest seed spherical in historical past. In line with sources accustomed to the deal cited by the FT, Andreessen Horowitz led the spherical, with participation from Sarah Guo’s Conviction Companions. 

Murati left OpenAI last September after main the event of a number of the firm’s most distinguished AI merchandise, together with ChatGPT, DALL-E, and voice mode. A number of of her former OpenAI colleagues have joined the brand new startup, together with co-founder John Schulman.

Murati is one in every of a handful of executives who left OpenAI after elevating considerations about CEO Sam Altman’s management in 2023. When the board ousted Altman in November of that 12 months, Murati served as interim CEO earlier than Altman was rapidly reinstated.

Eric Semler, chairman of healthcare tech agency Semler Scientific Inc., says lots of his hedge fund friends are skeptical about Bitcoin’s future as soon as US President Donald Trump leaves workplace.

“I believe that they assume it’s a fly-by-night idea and that it’s most likely going to, after the Trump administration, return down rather a lot,” Semler told Coin Tales host Natalie Brunell on Thursday.

Semler is assured that Bitcoin is a significant play

Semler, who additionally based hedge fund TCS Capital Administration in 2001, made his feedback amid skepticism within the crypto industry about how lengthy political assist for crypto will final after US President Donald Trump’s administration ends. Whereas Trump recently signed off on a Bitcoin (BTC) Strategic Reserve, some, like JAN3 founder Samson Mow, are involved that assist could probably unravel beneath a future president.

Nevertheless, it isn’t a priority for Semler, who has doubled down on the asset. In Could 2024, Semler Scientific grew to become the second US publicly traded firm to undertake a Bitcoin treasury technique.

On Thursday, Semler Scientific introduced plans to extend its Bitcoin holdings by nearly 23 times within the subsequent two-and-a-half years, rising its holdings from 4,449 Bitcoin to 105,000 Bitcoin. Semler is aiming to carry a complete of 10,000 Bitcoin by the tip of this yr.

Semler sees doubt from the standard finance trade as a bullish sign. 

“If you’re having a bet on one thing that almost all doesn’t consider in, and also you’re proper, you make a lot extra money,” Semler mentioned.

“I believe we acquired nice alternatives to indicate those that principally they’re lacking out on an awesome alternative,” he added.

Semler mentioned he has constructed a profession on going in opposition to the grain. “The most effective investments I’ve ever made have been in issues that I’m form of the lone voice crying within the wilderness,” he mentioned.

“These are the forms of investments which have the best returns,” he mentioned. 

“I like the negativity; I’m a contrarian investor.”

Surveys present hedge funds are turning to Bitcoin

In October 2024, the Different Funding Administration Association and PwC conducted a survey revealing that 47% of hedge fund managers buying and selling in conventional markets are uncovered to cryptocurrencies.

Associated: Bitcoin threatens $104K ‘rug pull’ as trader says major move yet to come

Crypto publicity was 29% in 2023, whereas about 37% of the respondents mentioned that they had publicity to crypto in 2022.

Curiously, again in June 2021, an Intertrust World surveyed chief monetary officers from 100 hedge funds worldwide about their intention to buy crypto belongings. 

About 98% of them responded that they count on their hedge funds to have invested 7.2% of their belongings in cryptocurrencies by 2026.

Journal: Arthur Hayes doesn’t care when his Bitcoin predictions are totally wrong