{"id":362211,"date":"2022-12-05T00:48:55","date_gmt":"2022-12-05T05:48:55","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=362211"},"modified":"2022-12-05T00:48:55","modified_gmt":"2022-12-05T05:48:55","slug":"how-sam-bankman-frieds-crypto-empire-failed-and-how-it-affected-a-i","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/how-sam-bankman-frieds-crypto-empire-failed-and-how-it-affected-a-i","title":{"rendered":"How Sam Bankman-Fried’s Crypto Empire Failed and How It Affected A.I."},"content":{"rendered":"
Anthropic, a San Francisco-based artificial intelligence research organization, raised $580 million<\/a> in April for “AI safety” research.<\/p>\n The one-year-old lab, which develops artificial intelligence (AI)<\/a> systems that generate language, was little known in Silicon Valley. However, the sum of money pledged to the small business eclipsed what VCs were investing in other A.I. start-ups, including those that were staffed with some of the most knowledgeable researchers in the industry.<\/p>\n Sam Bankman-Fried, the founder and CEO of FTX, the cryptocurrency exchange that filed for bankruptcy last month, served as the leader of the investment round. A leaked balance statement after FTX’s abrupt collapse<\/a> revealed that Mr. Bankman-Fried and his associates had invested at least $500 million in Anthropic.<\/p>\n Their investment was a part of a covert and vain attempt to investigate and counteract the risks posed by artificial intelligence, which many people in Bankman-Fried’s circle thought may ultimately ruin the planet and harm humanity. According to a count by The New York Times, the 30-year-old entrepreneur and his FTX colleagues invested or granted more than $530 million over the last two years to more than 70 A.I.-related businesses, academic labs, think tanks, independent projects, and individual researchers to address concerns about the technology.<\/p>\n According to four people familiar with the A.I. activities who were not authorized to speak in public, some of these groups and persons are now worried whether they can continue to spend that money. They expressed concern that Bankman-Fried’s accident may call into question their studies and damage their reputations. Additionally, they warned that some of the A.I. start-ups and organizations might later become involved in FTX’s bankruptcy procedures and have their grants revoked in court.<\/p>\n