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OpenAI's Sam Altman might persuade Abu Dhabi's wealthiest to invest in his semiconductor business
Sam Altman understands that over time, OpenAI will need to develop its own AI processors to remain competitive in the market, regardless of its current superior offerings. NVIDIA is demanding a high price.
Sam Altman has been working for several months to secure funding for his semiconductor business, which plans to offer processors dedicated to AI, rather than depending on a handful of GPU manufacturers, particularly NVIDIA. It seems he may finally have a chance to attract some of the world's richest individuals to invest in his new business venture.
MGX, the latest investment company in Abu Dhabi, is currently negotiating to back OpenAI's bold chip project. This represents the United Arab Emirates' most recent effort to gain a foothold in the worldwide AI industry.
Supported by the UAE government, MGX is presently involved in early talks about a potential financing agreement with OpenAI, as reported by the Financial Times.
The CEO of OpenAI, Sam Altman, is leading initiatives to start a semiconductor company, with the goal of reducing dependence on high-end chips supplied by Nvidia.
The creation and implementation of artificial intelligence will be immensely demanding in terms of resources, particularly in relation to computer hardware. Specialists anticipate that the expenses tied to constructing AI systems could fluctuate significantly and rapidly. This implies that the costs could escalate from hundreds of billions to trillions of dollars in the ensuing years, exceeding any amount previously managed by conventional tech venture capitalists. Consequently, Altman has no choice but to interact and collaborate with national governments.
Sheikh Tahnoon bin Zayed al-Nahyan, a prominent national security adviser in the UAE, heads MGX. This AI-focused fund aims to establish Abu Dhabi as a key player in the worldwide AI scene. With its significant wealth, extensive energy resources, and political support, the UAE is striving to secure a leading role in the AI competition.
Omar Sultan Al Olama, the AI minister of the UAE, has disclosed that Elon Musk, the chief executive officer of Tesla, is considering a partnership with the Gulf nation. Al Olama highlighted the UAE's commitment to develop collaborations that support their economic goals and promote the progress of AI, either spearheaded by Emiratis or in conjunction with international leaders.
Sheikh Tahnoon, who supervises an enormous empire worth $1.5 trillion, is in charge of G42, a collection of AI-oriented businesses supported by Mubadala, Abu Dhabi's state-owned investment fund. By setting up MGX in conjunction with G42 and Mubadala, Abu Dhabi intends to strengthen its status as a frontrunner in AI and draw in premium tech expertise and investment.
The UAE's forward-thinking approach to AI development has attracted big names like Altman and Nvidia's Jensen Huang. This is due to the nation's ambitious goals and substantial financial backing. Despite having ambitious objectives, the UAE has managed to overcome obstacles such as trade conflicts between the US and China. Notably, G42 ended its relationship with Chinese partners and sold off its investments in China to align with the UAE's strategic plan to prioritize working with US technology partners.
Al Olama stressed the UAE's dedication to the ethical and non-disputable use of AI, also highlighting the country's willingness to collaborate with international partners to advance AI innovation. This stance demonstrates the UAE's commitment to utilizing AI for enduring gains, while upholding economic goals and principles of responsible management.
(Contributions from various sources)
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