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Sam Altman from OpenAI might persuade Abu Dhabi's wealthiest to fund his semiconductor company
Sam Altman understands that in the long term, OpenAI must develop its own AI chips to remain competitive in the industry, even though it's currently one of the top choices. NVIDIA, on the other hand, is demanding a hefty price.
Sam Altman has spent several months attempting to secure funding for his semiconductor business, which emphasizes AI-based processors rather than depending on limited GPU manufacturers, specifically NVIDIA. It appears he might finally have the opportunity to attract some of the world's richest individuals to invest in his new project.
The latest investment company in Abu Dhabi, MGX, is negotiating to back OpenAI's bold chip project. This marks another attempt by the United Arab Emirates to exert its power in the worldwide artificial intelligence (AI) scene.
The UAE government supports MGX, which is presently involved in early talks about a financial agreement with OpenAI, as stated in a Financial Times report.
Sam Altman, the CEO of OpenAI, is leading the charge to set up a semiconductor company. The goal is to reduce dependence on sophisticated chips supplied by Nvidia.
The development of AI will demand significant resources, particularly in terms of computing hardware. Specialists predict that the expense of constructing AI systems could fluctuate greatly and rapidly. The projected costs could range from hundreds of billions to trillions of dollars in the upcoming years, surpassing any amount previously managed by conventional tech venture capitalists. This leaves Altman with no choice but to seek cooperation from national governments.
Headed by Sheikh Tahnoon bin Zayed al-Nahyan, the UAE's prominent national security advisor, MGX was initiated as an AI-centric fund aiming to establish Abu Dhabi as a key player in the worldwide AI scene. The UAE, utilizing its massive wealth, plentiful energy resources, and governmental support, is striving to secure a lead in the competition for AI superiority.
Omar Sultan Al Olama, the AI minister of UAE, has disclosed that Elon Musk, the CEO of Tesla, is keen on forging a partnership with the Gulf nation. Al Olama underscored the UAE's commitment to establishing alliances that are in line with their economic goals and promoting progress in AI, whether spearheaded by Emiratis or in cooperation with worldwide leaders.
Sheikh Tahnoon, who is in charge of a massive $1.5 trillion empire, heads G42, a consortium of AI-oriented firms supported by Abu Dhabi's state investment fund, Mubadala. By setting up MGX in conjunction with G42 and Mubadala, Abu Dhabi intends to strengthen its role as a frontrunner in AI and draw in premier technological expertise and investment.
The UAE's forward-thinking approach to AI development has caught the attention of industry bigwigs such as Altman and Nvidia's Jensen Huang, who are impressed by the country's drive and financial capacity. Although the UAE has set high goals, it has managed to overcome obstacles, including the trade conflict between the US and China. Specifically, G42 has cut off relationships with Chinese associates and pulled out its investments in China, in line with the UAE's strategic choice to favor cooperation with US tech partners.
Al Olama reiterated UAE's dedication to using AI responsibly and without controversy, while also expressing a willingness to collaborate with international partners to advance AI innovation. The UAE's strategy highlights its commitment to utilizing AI for sustained advantages, aligning with its economic goals and principles of responsible governance.
(Incorporating information from various sources)
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