Technology

59605 readers

4225 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

487

OpenAI wants to raise 5-7 trillion dollars. Yes, Trillion (decrypt.co)

submitted 9 months ago by rimu@piefed.social to c/technology@lemmy.world

220 comments fedilink hide all child comments

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.

you are viewing a single comment's thread
view the rest of the comments

[–] Twentytwodividedby7@lemmy.world 6 points 9 months ago (6 children)

That is not how that works...

[–] smb@lemmy.ml 9 points 9 months ago (3 children)

yeah, thats exactly what i am saying, most of the money ever printed sits in places it will never leave, so IMO there are no 5trillion available on the market and the cash flow does not allow to take out even a "little" bit (speaking in 1e12 terms) before things collapse for the majority.

oh yes, printing money works exactly like that, it was just printed in the past and nowadays they just increase numbers in databases: plopp and the value of that currency and especially everything that is bound to it decreases, ripping you of what you have saved without even touching your bank account.

[–] Unforeseen@sh.itjust.works 3 points 9 months ago (2 children)

Over 6 trillion USD alone gets exchanged everyday on the currency markets. Cash flow is not the only source of money either, its an interface when value needs to be exchanged.

Open cash flow worldwide is about 35 trillion.

This is just cash though, if you take all markets and derivitives, depending on how you measure it - if you want to be technical about represented value then that's worth over a quadrillion USD.

When you talk about reallocation of assets you are playing in the pool of a quadrillion dollars, not in the pool of free cash flow (the interface to it)

[–] Twentytwodividedby7@lemmy.world 3 points 9 months ago

Exactly right, no one is going to show up with a fleet of cargo planes full of cash lol. It's a huge amount of money, but if you have several nations investing, plus private business, it could happen - long shot, but it isn't limited by the amount of cash that exists. He's basically talking about starting a massive industry in the US that only exists in Japan and Taiwan.

load more comments (1 replies)

load more comments (3 replies)