this post was submitted on 10 Feb 2024
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487
OpenAI wants to raise 5-7 trillion dollars. Yes, Trillion (decrypt.co)
submitted 9 months ago by [email protected] to c/[email protected]
221 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] -3 points 9 months ago (1 children)

That's how productivity growth is achieved, a smaller amount of workers do the same task.

Or course, the created wealth is again invested back eventually and new products/services require new jobs.

For example, right now we have some of the highest labor participation in years, despite rising productivity

[–] [email protected] 16 points 9 months ago* (last edited 9 months ago) (1 children)

yeah and productivity increase has decoupled from wage in 1980, while productivity rises wages stay the same - why should anyone who's not a multimillionaire find that acceptable?

[–] [email protected] 2 points 9 months ago

Why would anyone know this fact and attack productivity increases rather than its being decoupled from wages?