OpenAI CEO Sam Altman is in talks with investors including the UAE to raise money for a tech initiative to boost the world’s chip-manufacturing capacity and expand its ability to power AI, the Wall Street Journal reported on Thursday. are doing.

The project may need to raise between $5 trillion and $7 trillion, the report said, citing people familiar with the matter.

OpenAI and its largest investor Microsoft did not immediately respond to Reuters requests for comment.

WSJ reported that Altman’s fundraising plan is aimed at solving barriers to OpenAI’s development, including the shortage of artificial intelligence (AI) chips needed to train the large language models behind systems like ChatGPT .

Semiconductor Industry Association (SIA) Forecast Global chip sales are expected to grow 13.1% this year to $595.3 billion, while sales are expected to decline nearly 8% in 2023.

The amount discussed by Altman is huge by corporate fundraising standards, the report said.

Investors value OpenAI even more than it should $80 billion,

The report said that as part of the talks, Altman is planning a partnership between OpenAI, investors, chipmakers and electricity providers, which will together put money into building a chip foundry, which will then be run by the chipmakers. . The effort could be funded by loans and discussions are in the early stages.