this post was submitted on 10 Feb 2024
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488
OpenAI wants to raise 5-7 trillion dollars. Yes, Trillion (decrypt.co)
submitted 9 months ago by [email protected] to c/[email protected]
210 comments fedilink hide all child comments
 

OpenAI CEO Sam Altman is in talks with investors, including from the United Arab Emirates, to raise between $5 trillion to $7 trillion in funding. The goal, according to a report in The Wall Street Journal, is to increase the world's chip manufacturing capacity and enhance AI capabilities.

The fundraising efforts are part of a broader strategy to address OpenAI's growth constraints, particularly the scarcity of AI chips needed for training large language models like ChatGPT.

Altman's proposal is said to include forming a partnership with investors, chip manufacturers, and power providers to finance the construction of chip foundries, which would then be operated by the chip manufacturers.

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[–] [email protected] 1 points 9 months ago (1 children)

But then you end up with inflation. So in the process of creating money you've reduced the value of the money. And banks working in cooperation with government create money. Private companies outside of the banking system can't create their own money anymore. If any sizable portion of this is taken out as a loan. It creates a systemic risk for the world economy.

[–] [email protected] 1 points 9 months ago (1 children)

Banks most certainly make up money today via loans. This happens all the time.

[–] [email protected] 1 points 9 months ago

But this isn't a bank. And making money doesn't come without consequences. You're not thinking about second and third order effects. This would basically be quantitative easing on a grand scale but for just one company. It would literally destroy the economy if the investment failed. And they aren't the only player in the industry. The level of systemic risk is too large. And if it didn't fail, it would basically be handing the world economy over to one player.