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OpenAI's Sam Altman could potentially involve Abu Dhabi's wealthiest in his semiconductor venture
Sam Altman understands that to ensure long-term competitiveness, OpenAI must develop its own AI processors, despite already being one of the top contenders in the market. NVIDIA, on the other hand, is demanding a high price.
Sam Altman has been working for several months to secure funding for his semiconductor project, which aims to offer processors dedicated to AI, rather than depending on a handful of GPU manufacturers, particularly NVIDIA. It appears that he might have a chance to attract some of the world's richest individuals to invest in his new venture.
The latest investment company in Abu Dhabi, MGX, is discussing potential backing for OpenAI's bold chip project. This marks the most recent effort by the United Arab Emirates to assert its presence in the worldwide artificial intelligence (AI) scene.
The UAE government supports MGX, which is currently in initial talks for a financial agreement with OpenAI, as stated in a Financial Times report.
The CEO of OpenAI, Sam Altman, is leading the initiative to create a semiconductor company with the goal of reducing dependency on advanced chips supplied by Nvidia.
Artificial Intelligence (AI) will require significant resources, particularly in terms of computational hardware. Specialists have projected that the expenses involved in establishing AI infrastructure could fluctuate drastically in a short span of time. This implies that the costs could escalate from several hundred billion to trillions of dollars in the forthcoming years, exceeding any amount ever managed by conventional tech venture capitalists. This leaves Altman with no choice but to seek and collaborate with national governments.
Under the leadership of Sheikh Tahnoon bin Zayed al-Nahyan, who is a notable national security adviser in the UAE, MGX was established as a fund dedicated to AI. It aims to make Abu Dhabi a key player in the international AI scene. The UAE, using its significant financial resources, plentiful energy supplies, and political support, is vying for a leading position in the global AI competition.
The Minister of Artificial Intelligence in the UAE, Omar Sultan Al Olama, has disclosed that Elon Musk, the CEO of Tesla, is keen on forging a partnership with the Gulf nation. Al Olama highlighted that the UAE is dedicated to establishing collaborations that are in line with economic goals and promoting the progress of AI, spearheaded by Emiratis or in conjunction with international leaders.
Sheikh Tahnoon, who presides over a colossal $1.5 trillion enterprise, is the head of G42, a conglomerate of AI-centered businesses supported by Abu Dhabi's state investment fund, Mubadala. By setting up MGX in tandem with G42 and Mubadala, Abu Dhabi intends to strengthen its standing as a frontrunner in AI and draw in leading tech talent and investment.
The UAE's forward-thinking approach to AI development has caught the attention of industry giants such as Altman and Nvidia's Jensen Huang, who are enticed by the country's ambition and financial capability. Even with its grand plans, the UAE has managed to deal with obstacles, including trade disputes between the US and China. Notably, G42 has cut off relations with Chinese associates and liquidated its investments in China, in line with the UAE's strategic choice to put a higher priority on cooperation with US tech partners.
Al Olama reiterated the UAE's dedication to using AI in a responsible and non-controversial manner, emphasizing their willingness to cooperate with international partners to foster AI innovation. The UAE's strategy highlights its commitment to harnessing AI for long-term advantages, aligning with their economic goals and principles of responsible governance.
(Incorporating information from various sources)
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