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Before OpenAI ousting, CEO Altman tried to raise billions in the Middle East for chip venture
- Code-named Tigris, the project aimed to create an AI-focused chip company that could produce semiconductors rivalling those from Nvidia
- Altman has also been looking to raise money for an AI-focused hardware device that he has been developing with former Apple design chief Jony Ive
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In the weeks leading up to his shocking ousting from OpenAI, Sam Altman was actively working to raise billions from some of the world’s largest investors for a new chip venture, according to people familiar with the matter.
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Altman had been travelling to the Middle East to raise funds for the project, which was code-named Tigris, the people said. The OpenAI chief executive officer planned to spin up an artificial intelligence-focused chip company that could produce semiconductors that compete against those from Nvidia, which currently dominates the market for AI tasks.
Altman’s chip venture is not yet formed and the talks with investors are in the early stages, said the people, who asked not to be named as the discussions were private.
Altman has also been looking to raise money for an AI-focused hardware device that he has been developing in tandem with former Apple design chief Jony Ive. Altman has had talks about these ventures with SoftBank Group Corp, Saudi Arabia’s Public Investment Fund (PIF), Mubadala Investment Co and others, as he sought tens of billions of dollars for these new companies, the people said.
Many details of the scale and focus of Altman’s chip ambitions as well as the project’s code name have not been previously reported.
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