Good morning, everyone! It’s Friday, September twenty-seventh, and we've got some exciting updates in the Artificial Intelligence world. Let’s dive into today’s highlights.

OpenAI to remove non-profit control and give Sam Altman equity. OpenAI is restructuring itself as a for-profit benefit corporation, which is a first in the company’s history. Sam Altman, the CEO, is set to receive a seven percent stake in the company, moving the non-profit board to a minority role. This change is aimed at making OpenAI more palatable for investors and might push its valuation towards one hundred fifty billion dollars. This shake-up follows a few leadership changes, including the sudden exit of Chief Technology Officer Mira Murati.

Runway earmarks five million dollars to fund up to one hundred films using AI-generated video. RunwayML has launched the Hundred Film Fund, which provides grants for various formats like features, shorts, documentaries, and music videos. Filmmakers can apply for funding and service credits that can reach up to ten million dollars in total. Runway's Head of Creative, Jamie Umpherson, stated that the project evaluation will focus on production needs, and the company will not claim ownership over the films created with its funds.

OpenAI's video A-I Sora reportedly gets an upgrade to produce longer, higher quality clips faster. After criticism regarding its previous performance, OpenAI is revamping Sora to reduce production times and improve quality. The current upgrade aims to leverage millions of hours of high-resolution footage to enhance the model's performance and decrease biases. 

Meta Connect reveals the biggest announcements of the year. At the Meta Connect event, the company unveiled the new Quest three S virtual reality headset priced at $299.99 and showcased its Orion augmented reality glasses. Meta also introduced the Llama three point two AI model, which improves image processing capabilities and integrates new A-I-generated content across its social media platforms like Facebook and Instagram.

That wraps up today’s AI highlights! Stay informed about the latest developments in Artificial Intelligence; there's always something new just around the corner. Thanks for tuning in, and have a fantastic Friday!

OpenAI Transitions to For-Profit Model as Sam Altman Gains Equity, While Runway Launches $5 Million Film Fund for AI-Generated Projects

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