The project could require raising as much as $5 trillion to $7 trillion
OpenAI CEO Sam Altman is in talks with investors including the United Arab Emirates to raise funds for a technology initiative to boost global chip manufacturing capabilities and expand its efforts to power artificial intelligence, The Wall Street Journal reported Thursday. Ability etc.
The report quoted people familiar with the matter as saying that the project may need to raise as much as US$5 trillion to US$7 trillion.
OpenAI and Microsoft, its largest investor, did not immediately respond to Reuters’ requests for comment.
According to the Wall Street Journal, Altman’s fundraising plan aims to address constraints on OpenAI’s development, including the scarcity of artificial intelligence (AI) chips needed to train the large language models behind systems like ChatGPT.
The Semiconductor Industry Association (SIA) predicts that global chip sales will grow 13.1% this year to reach $595.3 billion, while sales in 2023 will decline by about 8%.
The report adds that the amounts Altman discussed were staggeringly large by corporate finance standards.
Investors value OpenAI at more than $80 billion.
According to the report, as part of the negotiations, Altman is pushing for a partnership between OpenAI, investors, chip manufacturers and power suppliers. These institutions will jointly fund the construction of chip foundries, which will then be operated by the chip manufacturers. Those efforts could be funded through debt, discussions are in the early stages.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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