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OpenAI's Sam Altman might get Abu Dhabi's wealthiest to invest in his semiconductor industry
Sam Altman understands that in the long term, OpenAI will require its own AI processors to stay competitive in the market, even though it's currently one of the top choices. NVIDIA's prices are extremely high.
Sam Altman has been working for several months to secure funding for his semiconductor business, which is aimed at supplying processors dedicated to AI, rather than depending on a handful of specific GPU manufacturers, specifically NVIDIA. It seems that he might now have the opportunity to attract some of the world's richest individuals to invest in his new business.
Abu Dhabi's latest investment company, MGX, is currently discussing backing OpenAI's audacious chip project. This signifies the most recent effort by the United Arab Emirates to assert their presence in the global artificial intelligence (AI) scene.
The UAE government-supported MGX is presently in early talks about a potential financing deal with OpenAI, as reported by the Financial Times.
The CEO of OpenAI, Sam Altman, is leading the charge to set up a semiconductor company, with the goal of reducing dependence on sophisticated chips supplied by Nvidia.
Artificial Intelligence is expected to be incredibly demanding in terms of resources, particularly regarding computing hardware. It's been projected by specialists that the expenses involved in creating AI infrastructure can fluctuate significantly and rapidly. The cost could range from several hundreds of billions to trillions of dollars in the next few years, exceeding any amount ever managed by conventional tech venture capitalists. Therefore, Altman has no choice but to seek out and collaborate with national governments.
MGX, under the leadership of Sheikh Tahnoon bin Zayed al-Nahyan, UAE's prominent national security adviser, was initiated as a fund centered on AI. It aims to establish Abu Dhabi as a key player in the worldwide AI scene. By capitalizing on its significant wealth, plentiful energy resources, and political support, the UAE is striving to secure a leading position in the global competition for AI supremacy.
Omar Sultan Al Olama, the Minister of AI in the UAE, has disclosed that Elon Musk, the CEO of Tesla, has shown a keenness to partner with the Gulf country. Al Olama underlined the UAE's commitment to establishing alliances that are in line with their economic objectives and stimulate progress in AI, either spearheaded by Emiratis or in cooperation with international experts.
Sheikh Tahnoon, who manages an expansive $1.5 trillion kingdom, leads G42, a conglomerate of AI-oriented businesses supported by Abu Dhabi's state-owned investment fund, Mubadala. By creating MGX in conjunction with G42 and Mubadala, Abu Dhabi intends to enhance its reputation as a pioneer in AI and draw in leading tech professionals and investment.
The proactive approach of the UAE in the field of AI has piqued the interest of industry bigwigs such as Altman and Nvidia’s Jensen Huang. They are attracted by the country's ambitious vision and financial capacity. Even though the country has set high goals, it has successfully dealt with obstacles such as the trade conflict between the US and China. Specifically, G42 cut off relations with its Chinese counterparts and pulled out its investments from China. This move aligns with the UAE's strategic choice to favor partnerships with US technology companies.
Al Olama highlighted the UAE's dedication to the ethical and non-disputed use of AI, and reiterated the country's willingness to collaborate with worldwide partners to promote AI innovation. The UAE's strategy underlines its commitment to utilizing AI for enduring advantages, while making sure it aligns with economic goals and the principles of accountable governance.
(Incorporating information from various sources)
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