OpenAI CEO Engages Investors in Ambitious Chip Production and AI Advancement Talks

The Wall Street Journal revealed on Thursday that OpenAI CEO Sam Altman is in talks with investors, including those in the UAE, to raise money for a tech effort that will, among other things, increase the world's capacity to produce chips and enhance its ability to power AI.

The report further stated, citing sources acquainted with the topic, that the project might require raising as much as $5 trillion to $7 trillion.

According to the WSJ, one of Altman's fundraising strategies is to address the issues preventing OpenAI from expanding, including the lack of artificial intelligence (AI) processors needed to train the massive language models that power ChatGPT and other services.

In contrast to an approximate 8% decline in sales in 2023, the Semiconductor Industry Association (SIA) has predicted a 13.1% increase in worldwide chip sales to $595.3 billion for this year.

Source: Gnaneshwar Rajan / Reuters