OpenAI’s Sam Altman seeks trillions to fund AI chips, report says Technology news

The Wall Street Journal said Altman discussed “highly ambitious” plans with investors, including the UAE government.

OpenAI CEO Sam Altman is seeking to raise trillions of dollars from investors, including the UAE government, to boost the world’s ability to produce advanced chips and power artificial intelligence, the Wall Street Journal reported.

Altman’s “highly ambitious tech initiative” could require raising as much as $7 trillion, The Wall Street Journal reported Thursday, citing people familiar with the matter.

As part of his pitch to investors, Altman proposed building dozens of chip foundries that would then be managed by existing chipmakers, such as Taiwan Semiconductor Manufacturing Company (TSMC), the newspaper said.

The plans are intended to solve obstacles to OpenAI’s growth, including the scarcity of chips that support AI models like ChatGPT, according to the Wall Street Journal, which described the amounts requested as “strangely large by corporate fundraising standards.”

Altaman’s plans have so far seen meetings with senior UAE officials, TSMC executives, US Commerce Secretary Gina Raimondo and SoftBank CEO Masayoshi Son, according to the report.

While several countries have announced plans to support domestic semiconductor production, global supply is still dominated by a few companies, including Taiwan Semiconductor Manufacturing Co. (TSMC) and California-based NVIDIA.

The Wall Street Journal quoted an OpenAI spokesperson as saying that it had “productive discussions about scaling up global infrastructure and supply chains” and would share more details at a later date.

OpenAI, which is backed by Microsoft, did not immediately respond to an email request for comment from Al Jazeera.

At the helm of OpenAI, Altman has risen to become one of the most recognizable faces in the burgeoning AI field.

In November, the 38-year-old businessman He was fired from the startup he co-foundedonly to be reinstated several days later after protests from employees and investors.

(Tags for translation)Economy

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