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Sam Altman sought billions in funding for new AI chip company before being fired

According to insiders, Sam Altman has been traveling to the Middle East to raise billions of dollars for a new AI-focused chip company, codenamed Tigris. The chip company can produce semiconductors that compete with Nvidia, but it has not yet been formed, and negotiations with investors are still in the early stages. Altman has also been seeking funding for a hardware device focused on AI, which he developed in collaboration with former Apple design director Jony Ive. Altman has been in talks with joint ventures such as SoftBank Group, Saudi Arabia Public Investment Fund, and Mubadala Investment Company to raise billions of dollars for these new companies. Insiders say that Altman urged investors to consider his new venture as OpenAI recently signed a tender offer led by Thrive Capital. Insiders say that the AI chip company can help OpenAI by reducing the cost of operating its own services such as ChatGPT and Dall-E.

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