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OpenAI's Sam Altman might persuade Abu Dhabi's wealthiest to invest in his semiconductor venture
Sam Altman understands that eventually, OpenAI will need to develop its own AI processors to stay competitive, despite having one of the superior products in the market. Currently, NVIDIA's prices are quite high.
Sam Altman has been working for several months to secure funding for his semiconductor business which aims to supply processors designed for AI, reducing dependence on a handful of GPU manufacturers like NVIDIA. It seems he might finally be close to convincing some of the world's richest individuals to back his new endeavor.
The latest investment company in Abu Dhabi, MGX, is discussing potential backing for OpenAI's bold chip project. This signifies another attempt by the United Arab Emirates to exert its power in the worldwide artificial intelligence (AI) field.
The UAE government is supporting MGX, which is presently in early talks about a financing deal with OpenAI, as reported by the Financial Times.
Sam Altman, the CEO of OpenAI, is leading initiatives to set up a semiconductor company, with the goal of reducing dependency on high-end chips supplied by Nvidia.
AI is expected to demand a lot of resources, especially in terms of computing hardware. Analysts predict that the expenses of constructing AI systems can fluctuate greatly in a short span of time. This could potentially escalate from hundreds of billions to even trillions of dollars in the forthcoming years, outpacing any investments previously managed by traditional tech venture capitalists. Therefore, Altman is left with no choice but to cooperate and interact with nation-states.
Sheikh Tahnoon bin Zayed al-Nahyan, the esteemed national security adviser of the UAE, leads MGX, an AI-centered fund. The aim is to make Abu Dhabi a key player in the worldwide AI scene. The UAE, with its significant wealth, plentiful energy resources, and governmental support, aims to secure a lead in the global competition for AI supremacy.
Omar Sultan Al Olama, the AI minister of the UAE, disclosed that Elon Musk, the CEO of Tesla, has shown willingness to partner with the Gulf nation. Al Olama highlighted the UAE's dedication to establishing collaborations that support their financial objectives and promote the progress of AI, either spearheaded by Emiratis or in cooperation with worldwide trailblazers.
Sheikh Tahnoon, who supervises a massive $1.5 trillion business conglomerate, heads G42, a collection of AI-oriented firms supported by Abu Dhabi's state-owned investment fund, Mubadala. With the setup of MGX in conjunction with G42 and Mubadala, Abu Dhabi's goal is to strengthen its standing as a pioneer in AI and draw in premier tech talent and investment.
The UAE's active involvement in AI development has lured industry frontrunners such as Altman and Nvidia's Jensen Huang, who are enticed by the country's aspirations and financial capacity. Even though the UAE has big plans, it has managed to steer through difficulties, including the trade disputes between the US and China. Specifically, G42 has cut off relations with Chinese associates and pulled out its investments in China, in line with the UAE's strategic choice to favor cooperation with US tech associates.
Al Olama underscored the UAE's dedication to the ethical and non-disputed use of AI, while also expressing the country's willingness to collaborate with international partners to boost AI innovation. This stance reflects the UAE's commitment to tapping into AI for sustained benefits, while keeping in line with economic goals and principles of responsible governance.
(Incorporating information from various sources)
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