OpenAI CEO Sam Altman has been seeking US Government approval to raise billions of dollars to boost global manufacturing of AI chips.
Altman is looking to get the country on board to raise billions of dollars to increase the world’s supply of AI chips.
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According to sources familiar with the matter, the ChatGPT-maker CEO said he wanted to work collaboratively with the US Government on timing and structure for the venture.
MGX, Abu Dhabi’s state-backed investment company, is reportedly in early-stage discussions to invest in OpenAI’s new chip venture.
The technology investment company, founded by AI company G42 and Abu Dhabi’s Mubadala, was launched last week.
As well as the Middle East, Altman has been meeting with potential investors in the US and Asia.
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By GlobalDataUS chip giant Nvidia, estimated to have more than 80% of the market share for advanced AI chips, has allegedly been named as a potential target to work closely with the company.
OpenAI has developed most of its generative (GenAI) on a supercomputer produced by Microsoft since 2020. The powerful computer uses 10,000 of Nvidia’s graphics processing units, making it an incredibly expensive technology.
GlobalData forecasts that the overall AI market will be worth $909bn by 2030, having grown at a compound annual growth rate (CAGR) of 35% between 2022 and 2030.
In the GenAI space, revenues are expected to grow from $1.8bn in 2022 to $33bn in 2027, a CAGR of 80%.
