Temasek is in negotiations with Sam Altman regarding an investment in OpenAI

2024-03-05 20:19:18

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ChainCatcher news, according to the Financial Times in the UK, Singapore's state-owned investment firm Temasek Holdings is in investment talks with OpenAI CEO Sam Altman, marking the first time a state-backed group has invested in OpenAI.

According to insiders, senior executives from Temasek have met with Altman multiple times in recent months, with discussions being preliminary but ongoing, and no agreement on any investment size has been reached yet. This negotiation comes as Altman seeks funding to launch a semiconductor business aimed at reducing reliance on cutting-edge chips manufactured by Nvidia.

It is reported that despite a significant increase in OpenAI's revenue since the launch of ChatGPT in November 2022, Altman has stated that OpenAI is still operating at a loss due to the enormous costs of building and training its models. Temasek's investment interest reflects its increasingly global footprint over the past decade, with the investment firm currently holding a portfolio valued at $287 billion globally, including some top tech startups. OpenAI is currently supported by $13 billion from Microsoft, its largest investor, as well as several venture capital groups such as Thrive Capital, Sequoia Capital, Tiger Global Management, and Andreessen Horowitz.

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