According to a Bloomberg report, Altman said OpenAI is currently trying to figure out how to fund that kind of spending outlay.
OpenAI co-founder and CEO Sam Altman reportedly said the ChatGPT-maker should be expected to spend trillions of dollars on infrastructure in the not-so-distant future.
According to a Bloomberg report, Altman said OpenAI is currently trying to figure out how to fund that kind of spending outlay.
“You should expect a bunch of economists to say, ‘This is so crazy, it’s so reckless, and whatever.’ And we’ll just be like, ‘You know what? Let us do our thing.’” Altman said, according to the report.
Addressing concerns around how OpenAI would fund such a large infrastructure investment, Altman said the AI startup is devising a solution that would involve both the financing world and the compute side of the industry.
“I suspect we can design a very interesting new kind of financial instrument for finance and compute that the world has not yet figured it out. We’re working on it,” he said, according to the report.
Altman’s remarks come after OpenAI joined hands with SoftBank Group Corp. (SFTBY) and Oracle Corp. (ORCL) to announce Project Stargate, with a plan to invest $500 billion in setting up infrastructure over four years. Although he drew parallels between the current AI investment plans and the dot-com bubble, Altman said the technology in both instances was “real” and that it would eventually have a lasting impact on businesses as well as society.
He added that although some AI startup valuations are “insane,” society as a whole is unlikely to regret the investments in AI, according to the report.
OpenAI is not listed publicly at the moment. OpenAI investor Microsoft’s shares were down 0.15%. Retail sentiment on Stocktwits around OpenAI and Microsoft was in the ‘bearish’ territory.
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