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### Seeking Funding for New Artificial Projects: Sam Altman’s Initiative Before OpenAI Shutdown

Sam Altman was reportedly talking to investors about raising funds for new AI ventures, including a…

Dr. Marc Siegel, a reputable contributor to Fox News, discusses the efficacy of ChatGPT in clinical decision-making on The Big Money Show.

Sam Altman, the former CEO of OpenAI who was recently dismissed, reportedly had ambitions to secure substantial investments for two new artificial intelligence (AI) ventures before his departure. According to a recent report by Bloomberg, Altman was exploring the possibility of launching an AI chip company to rival Nvidia and an AI hardware device company. The proposed AI chip project, codenamed Tigris, aimed to provide a more cost-effective alternative to Nvidia’s offerings in the market.

Collaborating with Jony Ive, the former chief design officer at Apple, Altman sought significant funding from various entities, including SoftBank, the Saudi Arabian Public Investment Fund, and Mubadala Investment, for his AI endeavors. Despite the early stages of planning, Altman’s initiatives were well underway, with the potential to raise hundreds of billions of dollars for these projects.

In a surprising turn of events, Altman was ousted from his leadership role at OpenAI, the organization behind ChatGPT, due to discrepancies in his communication with the board. His removal was not linked to any misconduct but rather to issues related to transparency and effective governance.

Following Altman’s departure, OpenAI faced pressure from investors, notably Microsoft, to reinstate him, as his strategic vision and leadership were highly valued within the company. The transition in management could impact OpenAI’s operations and its plans for an $86 billion stock offering to employees.

Greg Brockman, a co-founder and president at OpenAI, resigned in solidarity with Altman, raising concerns about a potential brain drain if key employees decide to follow Altman in his future endeavors. The departure of both Altman and Brockman may lead to a significant restructuring within the organization.

As Altman contemplates his next steps, the future direction of OpenAI remains uncertain. The potential emergence of new ventures backed by Altman could pose challenges for OpenAI’s fundraising efforts and talent retention strategies. Despite the recent upheaval, Altman remains optimistic about his future prospects, as evidenced by his visit to the OpenAI headquarters to discuss his future plans with interim CEO Mira Murati.

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Last modified: February 17, 2024
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