The Prompt is a weekly rundown of AI’s buzziest startups, biggest breakthroughs, and business deals. To get it in your inbox, subscribe here.

Welcome back to The Prompt.

In a blog post, OpenAI CEO Sam Altman made some bold claims about the promise of artificial intelligence, saying that as models continue to be trained on more data and computational power, they will improve people’s lives through a variety of applications, from virtual tutoring to healthcare to scientific discovery. “Although it will happen incrementally, astounding triumphs – fixing the climate, establishing a space colony, and the discovery of all of physics – will eventually become commonplace,” he wrote.

But not everyone is optimistic about the impacts of AI. California Gov. Gavin Newsom signed a new law making it illegal to distribute deepfake and AI-generated political advertisements. Elsewhere, companies like Cloudflare have rolled out tools to detect and block AI crawler bots from scraping websites without consent in an effort to protect content creators from having their data used for training and to help prevent website owners from facing massive surges in their ISP bills.

Now let’s get into the headlines.

Artificial intelligence has a new major backer: Saudi Arabia’s sovereign wealth fund, also known as the Public Investment Fund, which has acquired stakes in leading AI startups like French AI model builder Mistral and $43 billion data analytics and AI platform Databricks, Forbes reported. The oil-rich middle eastern kingdom plows about $3 billion........

© Forbes