OpenAI's CEO, Sam Altman, is stirring up the tech world with a bold new pitch.
He's reportedly in talks with investors, including the government of the United Arab Emirates, about a project that could transform the landscape of artificial intelligence (AI) and chip-building capabilities on a global scale.
According to insiders, Altman's vision involves raising between $5 trillion to $7 trillion to combat the scarcity of AI chips used to train large language models (LLMs). If successful, this initiative could revolutionise the AI industry and accelerate the development of advanced AI technologies.
However, Altman's ambitious plan is not without its challenges. The sum he's seeking to raise is astronomical, even by corporate fundraising standards. It exceeds the current global semiconductor market, which is projected to reach $1 trillion by the end of the decade. To put it into perspective, a $7 trillion fundraising would surpass the combined market capitalisations of tech titans Apple and Microsoft.
This news comes as demand for generative AI tools, such as OpenAI’s ChatGPT, is skyrocketing. Andy Hock, senior vice president of product and strategy at AI accelerator company Cerebras, recently told PYMNTS that these generative models are sparking a wave of interest across various industries. They're being used to simulate time series data, classify languages and documents, and even aid in the development of new pharmaceutical therapies.
OpenAI's ambitious plans and its recent achievement of surpassing $2 billion in annualised revenue position the company alongside tech giants like Google and Meta. If Altman's $7 trillion AI project comes to fruition, it could catapult OpenAI to unprecedented heights in the tech industry. Stay tuned for more updates on this exciting development!
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