OpenAI boss Sam Altman is looking for investors for an AI technology initiative. As the Wall Street Journal (“WSJ”) reported on Thursday (local time), the company is looking to expand its global chip manufacturing capacity and its ability to use artificial intelligence (AI).
The WSJ, citing a person familiar with the matter, wrote that the project would need to raise between $5 and $7 trillion (up to $6.5 trillion). Altman is in discussions with investors from, among others, the United Arab Emirates.
Investors have valued OpenAI at more than $80 billion, but the company fundraising amounts cited are unusually high, the paper continued. OpenAI and its largest investor Microsoft did not immediately respond to requests for comment.
The $2 billion revenue mark was reached at OpenAI in December, the Financial Times reported on Friday, citing two people familiar with the US company’s finances.
The company, whose largest shareholder is technology group Microsoft, expects this turnover figure to more than double by 2025. This should be driven by strong demand from enterprise customers looking to leverage OpenAI’s technology to leverage generative AI tools in the workplace. Neither Microsoft nor Open AI initially issued a statement.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
