OpenAI CEO Sam Altman is reportedly seeking funding for a project aimed at increasing global chip-building and AI capabilities, potentially backed by the UAE government. However, Nvidia CEO Jensen Huang has stated that the cost of developing AI will likely be lower than projected due to advances in computing and the increasing speed of chip components.
Key takeaways:
- Nvidia has surpassed Amazon in market value for the first time since 2002, closing at $721.28 per share and reaching a market value of $1.78 trillion.
- The company's shares have increased by over 246% year over year due to strong demand for its server AI chips, which are used by companies like Microsoft, OpenAI, and Meta.
- OpenAI CEO Sam Altman is reportedly seeking funding for a project aimed at increasing the world's chip-building and AI-powering capabilities, potentially requiring between $5 trillion to $7 trillion.
- Nvidia CEO Jensen Huang, however, believes that advances in computing will keep the cost of developing AI lower, and he is confident that the chip industry will continue to reduce the cost of AI as components are made faster.