Singapore's Temasek Holdings in Talks to Invest in OpenAI, Reports FT
- tech360.tv
- Mar 6, 2024
- 2 min read
Temasek Holdings is reportedly in talks to invest in OpenAI, the Microsoft-backed AI company. Senior executives from Temasek have met with OpenAI's CEO, Sam Altman, multiple times. OpenAI has not yet commented on the report, while Temasek declined to provide a statement.
Singapore's state investment firm, Temasek Holdings, is reportedly in discussions to invest in OpenAI, the artificial intelligence company backed by Microsoft. According to the Financial Times, senior executives from Temasek have met with OpenAI's CEO, Sam Altman, multiple times in recent months.
While OpenAI has not yet responded to requests for comment, Temasek declined to comment on the report. Initially, Temasek had shown interest in investing in Altman's venture capital fund, Hydrazine Capital. However, recent talks have shifted towards investing in the AI non-profit itself, as per a separate source cited by the Financial Times.
This potential deal with Temasek comes on the heels of reports that Altman is seeking to raise a staggering $5 trillion to US$7 trillion for a network of AI chip factories. The demand for AI technology has been on the rise, with AI startups attracting a significant portion of investment in the United States last year. OpenAI's ChatGPT, in particular, has garnered attention and fueled the race to develop AI technology.
The launch of OpenAI's ChatGPT in late 2022 has brought generative AI technologies into the spotlight, leading to billions of dollars being invested in the necessary chips and servers to support the adoption of such applications.
Among OpenAI's investors, Microsoft holds the largest stake, while others include Khosla Ventures, Thrive Capital, Andreessen Horowitz, and Sequoia Capital. Last month, OpenAI completed a deal to sell existing shares in a tender offer, valuing the company at US$80 billion or more, according to sources cited by the New York Times.
Temasek, known for its active investments in the tech sector, boasts a portfolio valued at USS$382 billion ($284.21 billion) as of March 31. Some notable companies in its portfolio include Roblox, Tencent, and Alibaba.
Temasek Holdings is reportedly in talks to invest in OpenAI, the Microsoft-backed AI company.
Senior executives from Temasek have met with OpenAI's CEO, Sam Altman, multiple times.
OpenAI has not yet commented on the report, while Temasek declined to provide a statement.
Source: REUTERS
