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

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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[-] remotelove@lemmy.ca 182 points 9 months ago* (last edited 9 months ago)

That's fairly bold to ask for ~6% of the total world economy as well as a sizable chunk of the world's energy.

[-] essteeyou@lemmy.world 56 points 9 months ago

I was about to ask for the other 94%...

[-] herrcaptain@lemmy.ca 20 points 9 months ago

See now, they need to ask for more like 25% of the total world economy. That way what they actually want is gonna seem like a great deal.

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[-] EdibleFriend@lemmy.world 132 points 9 months ago

The fundraising efforts are part of a broader strategy to address OpenAI’s growth constraints,

see...we just can't grow without TRILLIONS OF FUCKING DOLLARS

[-] RedditWanderer@lemmy.world 62 points 9 months ago
[-] Nougat@kbin.social 27 points 9 months ago

AM I BEING CONSTRAINED? OR AM I FREE TO GO?

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[-] bunnyfc@kbin.social 26 points 9 months ago

i have a business case to become the major player in the chip industry: buy the planet's economy

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[-] los_chill@programming.dev 122 points 9 months ago

Good thing the board folded and allowed this to be full for-profit. Getting people reliant on LLM subscriptions is super important for humanity right now.

Another L for Earth, in general.

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[-] whoelectroplateuntil@sh.itjust.works 109 points 9 months ago

For perspective, global annual GDP is $105 trillion, which means Altman is asking the world to invest 6.7% or so of the entire world's economic output for one year in his company.

[-] keefshape@lemmy.ca 48 points 9 months ago* (last edited 9 months ago)

Holy fucking bonkers when you put it that way. Like holy fuck.

Are they that close to something amazing, or is Altman going true Dr Evil megalomaniac?

[-] whoelectroplateuntil@sh.itjust.works 19 points 9 months ago* (last edited 9 months ago)

It's both. Basically, if he's right that this is among the most important tech in world history and deserves $7 trillion in research, it'll make OpenAI the du jour monopolist over said most important tech in world history if he gets it. Outright dystopian.

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[-] filister@lemmy.world 16 points 9 months ago

And the world's 5 biggest companies their total market cap is a bit over 8 trillion dollars, which is also mind boggling, that so much capital is concentrated in the hands of so few people or shall we say mega corporations.

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[-] sentient_loom@sh.itjust.works 76 points 9 months ago

I also want to raise $5 - $7 trillion dollars.

[-] MajorHavoc@programming.dev 34 points 9 months ago

Is this the line for $5 - $7 trillion dollars?

I'll only take 4 million, and pass the rest on. With inflation accounted for, I think that leaves the next person roughly $5 - $7 trillion.

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[-] doublejay1999@lemmy.world 22 points 9 months ago

Have you tried gofundme.com

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[-] hark@lemmy.world 68 points 9 months ago

I wonder if this will be one of the things pointed at after the AI bubble bursts. Yes, AI will be sticking around, but the hype over it now is ridiculous.

[-] jol@discuss.tchncs.de 36 points 9 months ago

The way how every single digital product suddenly has AI shoved in it is really reminiscing of the Web bubble before it popped.

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[-] BeatTakeshi@lemmy.world 60 points 9 months ago

Thank God there is trickle down economics. We will all benefit in the end... Right?

[-] zoostation@lemmy.world 58 points 9 months ago

Could that level of investment ever be recouped in any other manner than by replacing vast numbers of workers and their salaries?

[-] ikidd@lemmy.world 29 points 9 months ago

Well, see, if we grind down 8 billion people into a nourishing slurry with a shelf life of a century, that should be worth at least $1000 a person, with inflation. That's a 50% profit on your investment!

[-] RegalPotoo@lemmy.world 24 points 9 months ago

That's my question; presumably the people in charge of that much wealth aren't total fools and will be wanting to see some actual numbers and a business case as to how they will see a return, not just platitudes and enthusiasm.

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[-] BigMacHole@lemm.ee 50 points 9 months ago

$7,000,000,000,000? It's a good thing we won't tax it ever at all in any capacity! Not while there's Single Mothers overdrawn on their Bank Accounts! #SaveTheTrillionaires!

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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.

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[-] ombremad 46 points 9 months ago

5-7 trillion and they’ll still end up stealing data from all over the internet.

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[-] doublejay1999@lemmy.world 44 points 9 months ago

We will come to regret not jailing San Altman.

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[-] filister@lemmy.world 40 points 9 months ago

Can someone ELI5 what's the open in the OpenAI's name at the moment?

I know they released Whisper as an open source model and that's about it, but I might be wrong.

[-] jj4211@lemmy.world 36 points 9 months ago

It used to be open, then money happened.

[-] JustARegularNerd@lemmy.world 23 points 9 months ago

Open for business

[-] knF@lemmy.world 20 points 9 months ago

Open your wallet /s

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[-] doctorcrimson@lemmy.today 37 points 9 months ago

I used to think they were unethical scammers.

Now I know for sure.

[-] BetaDoggo_@lemmy.world 31 points 9 months ago

Just a few more parameters, then the text prediction model will become sentient.

[-] A_Very_Big_Fan@lemmy.world 28 points 9 months ago

I, too, would like 5-7 trillion dollars

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[-] ohlaph@lemmy.world 27 points 9 months ago

We could solve so many problems with that much money.

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[-] cyberpunk007@lemmy.ca 26 points 9 months ago
[-] moitoi@feddit.de 25 points 9 months ago

I'm not pretending AI isn't useful. There is plenty of field where AI helps. But, AI has been the next scam after blockchain, crypto, NFT...

It's the end of our civilization with falling capitalism. But, capitalism will try to find new ways to make short term profits. We moved from fordism to post-fordism with the enslavement of the cognitive abilities. We entered the next era with all these scams. And entshitification is a symptom of this.

[-] derpgon@programming.dev 16 points 9 months ago

At least AI has something to show for it. Crypto, on the other hand...

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[-] bfg9k@lemmy.world 25 points 9 months ago

You could build a huge, state-of-the-art orbital station for 1 trillion lol

why spend it on some software

[-] SomeGuy69@lemmy.world 17 points 9 months ago

It's necessary, to replace humans, fellow human.

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[-] Kushia@lemmy.ml 22 points 9 months ago

Motherfucker is going for the biggest heist of all time. What a colossal waste of money and resources.

[-] Aopen@discuss.tchncs.de 21 points 9 months ago

$2.92T is current Apple market cap btw

[-] db2@lemmy.world 19 points 9 months ago

Thou shalt not make a machine in the likeness of a human mind.

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[-] smb@lemmy.ml 19 points 9 months ago* (last edited 9 months ago)

i guess the number they want to fundraise comes from an AI (maybe because they do not want to think by themselves any more)

as far as i am right with the "trillion" which is just a "billion" where i live and 1e12 (a 1 followed by 12 zeroes)

but according to wikipedia (in 2017) there are only:

14.000.000.000.000 USD existing in the world while they want to fundraise 7.000.000.000.000 USD

so basically they want half of the USD that had been printed in all history up until 2017.

maybe they just want to say that they want to push YOU into poverty, who knows.

may it by getting it from you or by letting some govs print money faster than ever, reducing your money to half or less of a fraction of its previous virtual value.

But the AI that came up with that number had "good luck" to not come up with the need of "more" money than ever has existed =D

i think i'ld prefer to use a dice when i really need a random "decision".

update: Plz tell me if i am wrong with the numbers or what the current 2024 number of all "printed" (well physical AND digital) USD in the world is at the moment. thx

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[-] Nobody@lemmy.world 18 points 9 months ago

It’s too bad the non-profit oversight board got killed by the for-profit subsidiary. OpenAI is dead on arrival as useful tech. It’s now a vehicle to deceive investors to raise VC cash.

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[-] GasMaskedLunatic@lemmy.dbzer0.com 18 points 9 months ago* (last edited 9 months ago)

This mother fucker REALLY wants the machine uprising ending.

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[-] comador@lemmy.world 18 points 9 months ago

What are we going to do tonight Pinky?

[-] Blackmist@feddit.uk 17 points 9 months ago

At this point I wouldn't mind them accidentally creating Skynet and killing us all in a nuclear inferno, just so we don't have to listen to any more insufferable, grifting techbros.

Max Zorin had the right idea about silicon valley.

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this post was submitted on 10 Feb 2024
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