SAM ALTMAN SEEKING TRILLIONS OF DOLLARS FOR NEW AI VENTURE
According to the Wall Street Journal, the CEO is currently courting investors, including the government of the United Arab Emirates, in an effort to raise up to $7 trillion for an AI hardware business.
To put that figure into perspective, the research states that last year’s total chip sales worldwide hardly crossed half a trillion dollars. And it was believed that about $100 billion of it came from sales of chips designed specifically for AI.
According to reports, his objective is to launch a new chip manufacturing company with the intention of, among other things, increasing hardware capacity and developing AI. It’s hardly shocking, given that OpenAI has had difficulty obtaining sufficient hardware for training its enormously complex language models, which underpin ChatGPT and other products.
electricity. Additionally, because of how much hardware is required, businesses like OpenAI, Google, and Meta are vying for the same specialized chips. Additionally, while prices and profits for companies that create AI chips are rising, supply are running low.
Chip’s Task
In the past, Altman has lamented a “brutal” lack of chips. Bloomberg revealed that he was “fundraising in the Middle East” for a “new chip venture” in the weeks before he was sacked late last year and then mysteriously rehired less than a week later.
A project like this would go up against Nvidia, which has been controlling the semiconductor market for artificial intelligence.
Now, additional information has surfaced, according to the WSJ’s sources, who state that Altman has met with a number of individuals, including the president’s brother and senior security official in the United Arab Emirates, Sheikh Tahnoun bin Zayed al Nahyan.
According to the article, Altman reportedly expressed his desire to construct dozens of chip-fabrication plants in a few years to representatives of Taiwan Semiconductor Manufacturing Company (TSMC), the country’s largest chip manufacturer.
It’s interesting to note that OpenAI is by no means the only company attempting to secure semiconductor space; Nvidia CEO Jensen Huang met with his counterpart at TSMC late last month as well.
Meanwhile, Altman has kept his cards open on the table, reportedly informing Satya Nadella, CEO of OpenAI’s largest investor Microsoft, of his fundraising efforts.
