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OpenAI wants to raise 5-7 trillion dollars. Yes, Trillion (decrypt.co)

submitted 9 months ago by rimu@piefed.social to c/technology@lemmy.world

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OpenAI CEO Sam Altman is in talks with investors, including from the United Arab Emirates, to raise between $5 trillion to $7 trillion in funding. The goal, according to a report in The Wall Street Journal, is to increase the world's chip manufacturing capacity and enhance AI capabilities.

The fundraising efforts are part of a broader strategy to address OpenAI's growth constraints, particularly the scarcity of AI chips needed for training large language models like ChatGPT.

Altman's proposal is said to include forming a partnership with investors, chip manufacturers, and power providers to finance the construction of chip foundries, which would then be operated by the chip manufacturers.

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[-] Eggyhead@kbin.social 48 points 9 months ago

Do they even think about where in a functioning society those trillions are coming from? Do they think wealth just magically appears without affecting the wealth gap?

[-] billiam0202@lemmy.world 32 points 9 months ago

It'll come from the working class, like all wealth does.

[-] Debrox@lemmy.world 4 points 9 months ago

I'm starting to think we agreed to a very bad deal. 🥹

[-] butterflyattack@lemmy.world 12 points 9 months ago

We agreed?

[-] SkyeStarfall 4 points 9 months ago

Yeah, I didn't agree to shit. I got yanked from the void into all of this.

[-] ChickenLadyLovesLife@lemmy.world 9 points 9 months ago

Oil money. They even mention the UAE.

[-] umbrella@lemmy.ml 7 points 9 months ago

oh so contributing to climate change and worsening the wealth gap

[-] ChickenLadyLovesLife@lemmy.world 3 points 9 months ago

AI ain't gonna give two shits about climate change.

[-] umbrella@lemmy.ml 2 points 9 months ago

ai is a far cry from being sentient but I get what you mean, the capitalist overlords are gonna use it to extract more money from us instead of giving a shit

[-] LarmyOfLone@lemm.ee 3 points 9 months ago

I'm not sure but these kinds of wasteful spendings are just "imaginary money" that sits around in virtual bank accounts being hoarded and doing nothing but when it's wasted like this actually gets spend for salaries etc. Basically all this money is generated in computers and an "inefficiency" until it's being used.

It's much worse when they buy up tons of real estate or apartments or buy up existing corporations to make them more "profitable".

this post was submitted on 10 Feb 2024

496 points (100.0% liked)

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