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.
That’s how productivity growth is achieved, a smaller amount of workers do the same task.
Or course, the created wealth is again invested back eventually and new products/services require new jobs.
For example, right now we have some of the highest labor participation in years, despite rising productivity
yeah and productivity increase has decoupled from wage in 1980, while productivity rises wages stay the same - why should anyone who’s not a multimillionaire find that acceptable?
Why would anyone know this fact and attack productivity increases rather than its being decoupled from wages?