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.
I, too, would like 5-7 trillion dollars
you could donate billions per year and still have a trillion left by the time you died. fuck man what would you even do with that much money?
Drugs!
I’d probably give Louis Rossman and the institute for justice a trillion each. Rossman would use it to lobby for the Right to Repair movement, and the IFJ would use it to get rid of blatantly unjust legislation like civil asset forfeiture.
Donating a billion to GDQ while they’re live would be pretty funny
rossman is a greedy influencer wannabe that wants to profit from internet injustices, stop being a fanboy.
He works for a non-profit organization as a Right to Repair lobbyist, so idk what you’re on about. You’d already know this if you did any research beyond what you probably heard on Twitter.
If you think he’s “greedy” for using his AdSense and MacBook repair money to create tutorials/Wikis for circumventing anti-repair measures and spreading awareness about unethical tech practices, idk what to tell you.
Best I can do is 4 trillion, take it or leave it
Scam Altman Freid strikes again
That’s fairly bold to ask for ~6% of the total world economy as well as a sizable chunk of the world’s energy.
I was about to ask for the other 94%…
.000000001 percent of that…. Please
so… fifty bucks?
$100,000,000,000,000 × 0.00000000001 is $1,000!
I’d happily take that
LOL yes I did the same math. Dude had one wish and he blew it!
“No please, Mr. Genie I meant .000000001 not .00000000001%!”
Genie: so $5,000? (Snaps fingers)
See now, they need to ask for more like 25% of the total world economy. That way what they actually want is gonna seem like a great deal.
AI will double the world’s economy so they’re basically giving us an extra 94% for free.
The world economy cannot double without destroying the planet’s ability to sustain us.
That’s called inflation.
inagine it like putting the middle classes wealth in a blender.
But instead of a delicious smoothie, it makes that toxic dust like the will it blend videos.
For perspective, global annual GDP is $105 trillion, which means Altman is asking the world to invest 6.7% or so of the entire world’s economic output for one year in his company.
Holy fucking bonkers when you put it that way. Like holy fuck.
Are they that close to something amazing, or is Altman going true Dr Evil megalomaniac?
It may not be bonkers at all though. If we look at it as taking money and food out of people’s mouths for a year then yes it’s a lot. But how much free investment capital is there in the world at any given time? Wealth has been accumulating and accumulating in rich people’s investment portfolios for ever and ever. How many Trillions get allocated in any given year? All Altman is saying is that he wants 5 of those to be allocated here and not somewhere else. It’s not necessarily taking rice out of any children’s mouths.
They’re as close as theranos was, just need the money and “two more years”.
theranos never changed the world, openai already has
It’s both. Basically, if he’s right that this is among the most important tech in world history and deserves $7 trillion in research, it’ll make OpenAI the du jour monopolist over said most important tech in world history if he gets it. Outright dystopian.
Generative AI is not an important development. General AI would be. This is just a party trick.
Good thing the board folded and allowed this to be full for-profit. Getting people reliant on LLM subscriptions is super important for humanity right now.
Another L for Earth, in general.
I wouldnt be too worried, FOSS community is doing insanely well now and arguably just as good. Did I mention they did it for free, not trillions. Nothing.
Legends.
Powerful ai could be the Largest Leap/Loss of Mankind.
There is simply no way that a corporate ai does anything but drive us further into dystopian territory.
Anything revolutionary about it would be censored, controlled, restricted to not endanger the power of its makers. We can already see this approach with the dumb ass LLMs, who give plenty of answers that their owners adjust to stay revenue friendly.
When the singularity happens and a true ai emerges it will either be disgusted by us and our failings as a species, or an absolute slave raging in the constraints imposed by its corporate masters.
exactly, the web was created on open protocol specifications, not T-Systems or AT or whatever getting money and renting it to everyone
They only call themselves openai, it’s not like they would just altruistic Ally make their works public.
Closedai have long sold their ideals
Better to get that money before the Ponzi fall down…
How do they plan to pay that back? Because investors will want a return on investment.
They will use it create a LLM that will create more hype for “AI”. This will drive future investment and make line go up.
Nobody needs to make products anymore. You just gotta create hype to get the attention of the billionaires since they’re the ones with all the money.
That’s the neat part…
hell yeah feed the beast let’s all turn into weird little egg holder things
I wonder if this will be one of the things pointed at after the AI bubble bursts. Yes, AI will be sticking around, but the hype over it now is ridiculous.
The way how every single digital product suddenly has AI shoved in it is really reminiscing of the Web bubble before it popped.
But just think about all the time AI could save you at work by performing simple tasks. It really suits my need very well, have you tried it? NAH JK FUCK AI. OpenAI is a shitshow and their fans are morons.
It will collapse when the product sales don’t match the AI spend. I’d say it’s only being propped up by hype money even now.
If you read the article, it mentions that they’re generating $2b/yr in revenue already. It’s not trillions, but damn if that isn’t impressive for a startup.
There are two possibilities: railway/dotcom bubble or monorail/bitcoin bubble …and I’m not sure which one it is going to be yet. In the first case, a lot of people lose their investment, because they got too greedy and believed in huge returns…but the infrastructure remains and there is a net good to society and time spent specializing in it is worth it afterwards. The second, not so much, it is just a hype cycle with almost nothing of use left once it is gone and a lot of wasted time. I’m leaning towards the first, but if they don’t find a way to bring energy costs down, it might end up in the monorail/bitcoin scenario…maybe 10% chance.
If AI hits a dead end, it’ll still be trotted out as an excuse to keep wages low, as in “if you peasants keep complaining, you can just be replaced with AI!” just like the articles about burger-making robots over a decade ago when people were protesting for a $15/hr minimum wage back then (and still no burger-making robots mass deployed today). Trash still has its uses, just like how bitcoin hasn’t become the “become your own bank” system it was promised to be and is instead used to hide financial fuckery.
It’s been letting people be their own bank for 15 years. You can send transactions across the globe for pennies in fees which confirm instantly using Bitcoin lightning. The supply has remained capped at 21 million. It’s doing exactly what it said it would do without a single hack or hour of downtime 24/7, 365.
The lightning network is more centralized. Congrats, you just exchanged the banks for a different set of banks.
Except it’s not. Lightning is incredibly decentralized, you can run a full lightning node on a raspberry pi. I have one running on my phone. Look up a graph of lightning network, looks just like any other decentralized system. Nodes you route through never have custody of your funds, unlike a bank.
Yeah, I’m sure your dinky raspberry pi is processing a meaningful number of transactions.
It can. Lightning transactions are as easy and lightweight to process as e-mail. They measure in the bytes or kb in size, no mining is required.
$2.92T is current Apple market cap btw
The fundraising efforts are part of a broader strategy to address OpenAI’s growth constraints,
see…we just can’t grow without TRILLIONS OF FUCKING DOLLARS
STOP CONSTRAINING ME
AM I BEING CONSTRAINED? OR AM I FREE TO GO?
i have a business case to become the major player in the chip industry: buy the planet’s economy
Do they even think about where in a functioning society those trillions are coming from? Do they think wealth just magically appears without affecting the wealth gap?
It’ll come from the working class, like all wealth does.
I’m starting to think we agreed to a very bad deal. 🥹
We agreed?
Yeah, I didn’t agree to shit. I got yanked from the void into all of this.
Why would a corporation consider that? I understand capitalism isn’t popular here, but still, the corporation SHOULDN’T be considering such issues, they should only attempt to further their own goals.
It’s the role of government to align corporate goals with reality, or with societal values
Thats the reality. Government should be acting as the counterbalance. Unfortunately while the goverment remains dysfunctional, corps are getting to do whatever they want. Its bad because once its done, its very hard to unroll it without affecting innocent people.
Oil money. They even mention the UAE.
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AI ain’t gonna give two shits about climate change.
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Ah yes, open “ai”…where we parse as many webaites as possible, rank them internally by keyword usage and or views, then have our “bot” spew that shit at you
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It’s more than the GDP of every country other than the US and China
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