HomeTechnologyOpenAI CEO wants to raise not billions, but trillions, here’s why |...

OpenAI CEO wants to raise not billions, but trillions, here’s why | – Times of India

Sam Altman, the CEO of OpenAI, has been trying to raise funds for the past few months. The ChatGPT-maker plans to build its own extensive complex of semiconductor foundries, as the AI startup struggles with the worldwide chip shortage, which is hindering its ambitions.
Previous reports stated that Altman was negotiating to raise billions of dollars. However, according to a Wall Street Journal report, Altman is seeking trillions of dollars in investment for his project.People familiar with the matter told the WSJ that the project could cost several trillion dollars and require an investment of up to $5-7 trillion.
The CEO of OpenAI is reportedly in discussions with investors, including the government of the United Arab Emirates, to raise funds for his network of chip fabrication plants.
Altman has met with Sheikh Tahnoun bin Zayed al Nahyan of the UAE, who is a key leader in Abu Dhabi’s sovereign wealth, to discuss an effort that may include the UAE government, though it would require approval from the US government.
A source familiar with the development said that Microsoft is aware of OpenAI’s chip expansion efforts and supports them. Altman had discussions with CEO Satya Nadella and CTO Kevin Scott.
With trillions of dollars in its hand, OpenAI plans to overcome growth constraints. The scarcity of expensive AI chips, called GPUs, has hindered the training of large language models, such as ChatGPT. These GPUs are necessary for OpenAI’s mission to develop artificial general intelligence.
Bloomberg had earlier reported that G42, based in Abu Dhabi, and SoftBank Group Corp have held discussions with the OpenAI CEO, Sam Altman. However, at the time, it was reported that the company was looking to raise about $8-10 billion. Altman has also had talks with SoftBank CEO Masayoshi Son, who is said to be involved in OpenAI’s hardware project as well.
Altman has had meetings with representatives from several chip-fabrication companies, including Taiwan Semiconductor Manufacturing Co., also known as TSMC. During discussions with chip manufacturers, Altman has expressed his desire to build multiple chip fabrication plants in the next few years. His plan is to have TSMC construct and operate these plants.

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