Business News Report
November 19, 2023

Sam Altman Ventures Into AI Chip Market with Project ‘Tigris’

Sam Altman, the former CEO of OpenAI, was actively seeking investment for a new venture in the artificial intelligence semiconductor market before his unexpected departure from OpenAI.

This project, known as Tigris, aimed to establish an AI-focused chip company to challenge Nvidia Corp.’s dominance.

Altman’s vision was to create semiconductors for AI applications that could compete with industry leader Nvidia. Prior to his departure from OpenAI, he was in the early stages of fundraising, targeting some of the world鈥檚 largest investors. His trip to the Middle East for fundraising underscores the global reach and potential scale of this venture.

The Tigris Project: An Emerging Competitor

Tigris, still in its formative stage, represents Altman’s ambitious foray into the AI chip industry. Although the company was not yet established, early discussions with investors suggested a significant scale of operation and investment.

In addition to the chip venture, Altman was concurrently working on an AI-focused hardware device with Jony Ive, former design chief at Apple Inc. Funding discussions for these ventures included negotiations with major investors like SoftBank Group Corp., Saudi Arabia鈥檚 Public Investment Fund, and Mubadala Investment Company.

Potential Impact on AI and Tech Industry

Altman’s move into the semiconductor space could have significant implications for the AI and technology sectors. The successful launch of Tigris could challenge Nvidia’s stronghold and introduce a new dynamic in the market.

The pursuit of such an ambitious project reflects the growing importance and competition in AI-focused hardware development.

Altman’s bold steps to raise funding for Tigris illustrate the evolving landscape of AI technology and the semiconductor industry. While many details remain under wraps, the potential for a new player to rival Nvidia is a notable development in the tech world.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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