The Wall Street Journal reported on Thursday that Sam Altman, the CEO of OpenAI, is in talks with investors, including those from the UAE, to raise funds for a technological initiative aimed at several objectives, including boosting global energy to build chips and expanding the capacity for artificial intelligence operation.
The report cited informed sources claiming that the project might require collecting anywhere between five to seven trillion dollars.
The newspaper clarified that Altman’s plans for fundraising aim to overcome obstacles that hinder the growth of Open AI, including a shortage of the necessary artificial intelligence chips for large language models like ChatGPT.
The Semiconductor Industry Association anticipates a jump of 13.1 percent in chip sales worldwide to $595.3 billion this year, compared to a decrease of approximately eight percent in sales in 2023.
The report highlighted that the funds mentioned by Altman are unusually large in terms of corporate fundraising standards. Investors value Open AI at over $80 billion.
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