this post was submitted on 10 Feb 2024
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OpenAI wants to raise 5-7 trillion dollars. Yes, Trillion (decrypt.co)
submitted 2 years ago by rimu@piefed.social to c/technology@lemmy.world
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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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[–] Twentytwodividedby7@lemmy.world 5 points 2 years ago (2 children)

That is not how that works...

[–] jj4211@lemmy.world 10 points 2 years ago (1 children)

It may not reflect some of the weirdness, but it illustrates the absurdity of the scale well.

Some other comparisons: It's about a third of all US economic activity

It's about fifteen times more than the total economic activity around all electronic chips.

It's five to seven times more money than all the nations' military spending combined.

Even adjusted for inflation, it's about 20 to 30 times more money than spent on all the Apollo missions combined.

Adjusted for inflation, it's about six to nine times the amount spent on the new deal.

This is a stupid amount of money no matter how you account with nothing close to compare.

[–] derpgon@programming.dev 0 points 2 years ago

Or about the price of a middle sized family house in the US, lol.

[–] smb@lemmy.ml 8 points 2 years ago

yeah, thats exactly what i am saying, most of the money ever printed sits in places it will never leave, so IMO there are no 5trillion available on the market and the cash flow does not allow to take out even a "little" bit (speaking in 1e12 terms) before things collapse for the majority.

oh yes, printing money works exactly like that, it was just printed in the past and nowadays they just increase numbers in databases: plopp and the value of that currency and especially everything that is bound to it decreases, ripping you of what you have saved without even touching your bank account.