💡 OpenAI Seeks $7 Trillion

Plus: Nvidia Custom Chip

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Hey Edge Family, good morning! Over the weekend, Sam Altman requested 7 TRILLION dollars for AI compute funding… that’s a lot of money.

The Breakdown

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Source: Marketplace.org

Big Takeaway: OpenAI CEO Sam Altman is seeking to “overhaul the global semiconductor industry” with a project that would significantly increase chip-building capacity.

  • The project in question cost 7 trillion dollars, which is more than the combined GDP of the UK and France!

  • Altman has discussed the project with various investors, including the government of the United Arab Emirates. He wants to solve the supply-and-demand problems with AI chips that are holding OpenAI back from growing.

  • The project would involve a partnership between OpenAI, investors, and chipmakers (like Nvidia) to build chip foundries, with OpenAI committing to be a significant customer.

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Source: Bleeping Computer

Big Takeaway: Nvidia is establishing a new business unit dedicated to creating custom chips tailored for clients, focusing on “hyperscalers” such as Amazon, Meta, Microsoft, Google, and OpenAI.

  • Custom-designed chips for specific tasks offer benefits in cost-efficiency and energy use compared to GPUs. This move comes as multiple AI chip startups are venturing into specialized hardware development.

  • Nvidia controls about 80% of the high-end AI chip market, with its value rising to $1.73 trillion due to demand from major tech companies.

  • The data center custom chip market is expected to grow to $10 billion in 2023 and double by 2025, with the broader custom chip market valued at roughly $30 billion in 2023.

🔎 Extra Insights 

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UPS is laying off 12,000 of its 85,000 managers and replacing them with AI, with the goal of becoming more efficient and cost-effective.

OpenAI's revenues have surpassed $2 billion on an annualized basis as of December 2023, making it one of the fastest-growing tech companies ever. ChatGPT has fueled 92% adoption by Fortune 500 companies, which is one of the main drivers of their success. OpenAI expects to double revenues by 2025.

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