According to Foresight News, Sam Altman has been visiting the Middle East to raise billions of dollars for a new AI-focused chip company, codenamed Tigris, before being ousted from the OpenAI board. The chip company could produce semiconductors to compete with Nvidia, but it has not yet been formed, and negotiations with investors are still in the early stages. Altman has also been seeking funding for an AI-focused hardware device, developed in collaboration with former Apple design chief Jony Ive.
Altman has been in talks with SoftBank Group, Saudi Arabia's Public Investment Fund, and Mubadala Investment Company for joint ventures, seeking tens of billions of dollars for these new companies. Insiders claim that as OpenAI recently signed a tender offer led by Thrive Capital, Altman urged investors to consider his new ventures. The AI chip company could help OpenAI by reducing the cost of running its proprietary services, such as ChatGPT and Dall-E.