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.
Money can be created by banks via loans, you can just make it up.
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.