OpenAI’s CEO, Sam Altman, is vying to revolutionize the global production of artificial intelligence chips and is in talks with the Joe Biden-led administration to seek approval for a colossal $7 trillion chipmaking project.
Altman has been engaging with potential investors and partners in the US, Middle East, and Asia, but the realization of his brainchild hinges on governmental greenlight.
Known for his advocacy in Washington, Altman seeks the support of U.S. officials to drastically elevate semiconductor production, as reported by Bloomberg, citing insider sources.
The primary objective is to gather trillions in funding to bolster the global capacity for advanced computing chips, thwarting a prospective shortage that could impede the widespread deployment of AI.
Potential collaborators for Altman’s venture include major chip manufacturers such as Taiwan Semiconductor Manufacturing Co. (TSM), Intel Corp. (INTC), and Samsung Electronics Co. (SSNLF).
Altman has also commenced discussions with Samsung executives and Middle Eastern sovereign wealth funds to explore the possibility of investments.
The ambitious fundraising endeavors could trigger a national security review of foreign investment by a committee led by the Treasury Department. Additionally, it may encounter hurdles from the Commerce Department’s controls on chip shipments to the Middle East.
In addition to approaching investors, Altman is contemplating the establishment and issuance of equity in a new entity, separate from OpenAI. This move could raise antitrust concerns, requiring approval from the US government before proceeding.
This undertaking aligns with Altman’s recent engagement with potential investors, including the government of the United Arab Emirates, to secure trillions for a tech initiative aimed at overhauling the global semiconductor industry and augmenting AI capacity.
He has also been exploring additional funding for OpenAI as the company aspires to achieve artificial general intelligence (AGI.) Talks had commenced back in December with potential investors for an injection of funds into OpenAI at a valuation of $100 billion, marking a more than three-fold increase from the previous funding round.
In the midst of these developments, Altman has voiced concerns about the potential perils of AI due to “subtle societal misalignments” and has emphasized the necessity of a regulatory body akin to the International Atomic Energy Agency (IAEA) to oversee the rapid progression of AI.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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