MiniMax CEO Yan Junjie announced he will not take a salary until the company achieves artificial general intelligence (AGI). He also pledged to transfer 4% of his personal shares to employees and 1% to support open-source AI development. The company is also seeking to raise approximately HK$16.04 billion.
MiniMax CEO Yan will forgo his salary until the company achieves AGI, pledging 4% of his shares to employees and 1% to open-source communities. This follows an 80% stock plunge after a lock-up period expired.
A former OpenAI researcher, Yao Shunyu, has become Tencent's chief AI scientist in China and says the company aims to establish a long-term AGI organization, underscoring the intensified US-China AI talent race and China’s efforts to accelerate development despite U.S. chip controls.
The AI industry faces a talent shortage, with a few hundred experts capable of building frontier AI systems. Companies like OpenAI, Meta, and Google DeepMind are engaged in intense bidding wars, offering nine-figure compensation and massive equity grants for top researchers like Ilya Sutskever, Mira Murati, Alexandr Wang, Demis Hassabis, and Andrej Karpathy.
The AI industry is experiencing a talent war, with companies like OpenAI, Meta, and Google DeepMind competing for a few hundred elite engineers. Nine-figure compensation packages and massive equity grants are common, highlighting the immense value placed on individuals like Ilya Sutskever, Mira Murati, Alexandr Wang, Demis Hassabis, and Andrej Karpathy.
Elon Musk returned to court for his second testimony in the lawsuit against OpenAI, saying he was a 'fool' for investing in the company that started as a non-profit but later created a for-profit arm. At issue is a 2020 deal with Microsoft worth billions that gave Microsoft exclusive rights to OpenAI's product. Musk is seeking up to $140 billion in damages from OpenAI and Microsoft, claiming the partnership represents a 'bait and switch' that risks corporate control of artificial general intelligence.
Microsoft and OpenAI have renegotiated their partnership agreement, removing the long-standing AGI clause and allowing OpenAI to serve products across any cloud provider. The revenue-sharing payments will now end in 2030 with a cap rather than continuing until AGI is achieved. Microsoft's license to OpenAI models is now non-exclusive, opening the door for competitors like Amazon and Google.
