OpenAI CEO Sam Altman Wants To Boost Global AI Chipset Production, Seeking Huge Investment – News18

OpenAI CEO Sam Altman is in talks with traders, together with the UAE, to boost funds for a tech initiative to spice up the world’s chip-building capability and develop its means to energy AI, amongst different issues, the Wall Street Journal reported on Thursday.

The challenge may require elevating as a lot as $5 trillion to $7 trillion, the report added, citing folks conversant in the matter.

OpenAI and its greatest investor Microsoft didn’t instantly reply to Reuters’ requests for remark.

Altman’s fundraising plans are aimed toward fixing constraints to OpenAI’s progress, together with the shortage of synthetic intelligence (AI) chips required to coach massive language fashions behind programs resembling ChatGPT, the WSJ reported.

The Semiconductor Industry Association (SIA) has forecast a 13.1% soar in world chip gross sales to $595.3 billion this yr, in contrast with a drop of about 8% in gross sales in 2023.

The quantities Altman has mentioned are outlandishly massive by the requirements of company fundraising, the report added.

Investors have valued OpenAI at greater than $80 billion.

As a part of the talks, Altman is pitching a partnership between OpenAI, traders, chip makers and energy suppliers, which collectively would put up cash to construct chip foundries that may then be run by chip makers, the report stated, including that a lot of the hassle may very well be funded by debt and the discussions are in its early levels.

(This story has been edited by News18 employees and is printed from a syndicated news company feed – Reuters)