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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.
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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.
Is 7 Trillion a ridiculous amount to request?
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
Google CEO Sundar Pichai announced the company's Google One subscription service has reached 100 million subscribers. This comes right after the launch of the AI Premium subscription with access to the new Gemini Advanced.
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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