In a recent announcement, Sam Altman, the CEO of OpenAI, has introduced a funding initiative with the lofty goal of pushing forward chip technology. Termed “wildly ambitious,” Altman’s vision potentially demands an astonishing $7 trillion in funding. Talks are currently ongoing to garner investments from various sources, among them the government of the United Arab Emirates.
At the heart of Altman’s initiative lies the strategic establishment of multiple chip foundries, to be managed by established chip manufacturers like the Taiwan Semiconductor Manufacturing Company (TSMC). By tackling pivotal obstacles obstructing OpenAI’s advancement, particularly the scarcity of AI-capable chips, Altman envisions driving the AI field forward and unlocking unprecedented opportunities.
Several key figures from notable tech giants are also involved in these groundbreaking discussions including officials from the United Arab Emirates, TSMC executives, US Secretary of Commerce Gina Raimondo, and SoftBank’s CEO Masayoshi Son.
Altman’s initiative is set against the backdrop of a semiconductor industry where a handful of major players, such as TSMC and Nvidia, reign supreme. Despite the endeavors of numerous countries to strengthen their domestic semiconductor production, the global supply chain continues to heavily depend on these key corporations.
A spokesperson from OpenAI has recently confirmed that “productive discussions” have been ongoing regarding global infrastructure and supply chains, but did not share any finer details on the ambitious project. OpenAI’s biggest investor Microsoft is also yet to respond to official queries on the matter.
Altman’s aspirations for fundraising are on an unparalleled scale, aiming for a staggering $5 trillion to $7 trillion, which greatly exceeds the usual standards for corporate fundraising. Already, investors have assessed OpenAI’s value at over $80 billion, showcasing a strong interest and the possibility of substantial returns.