Singapore’s Temasek is in investment talks with OpenAI CEO Sam Altman

BlockBeats news, on March 5, the Financial Times reported that Singapore’s state-owned investment institution Temasek Holdings is in investment negotiations with Sam Altman, CEO of ChatGPT development company OpenAI. This will be the first time a group with a state background has invested in OpenAI. . Senior Temasek executives have met with Altman multiple times in recent months, and discussions have been preliminary but ongoing, with no agreement on the size of any investment yet, according to people familiar with the matter. The talks come as Altman seeks funding to launch a semiconductor business aimed at reducing reliance on cutting-edge chips made by Nvidia. Although OpenAI's revenue has grown significantly since the launch of ChatGPT in November 2022, Altman said that OpenAI is still losing money due to the huge cost of building and training its models. Temasek's investment interest reflects its increasingly global footprint over the past decade, with the investment firm now holding a $287 billion global portfolio that includes some of the top tech startups. OpenAI is currently backed by $13 billion from Microsoft (its largest investor), as well as several venture capital groups including Thrive Capital, Sequoia Capital, Tiger Global Management and Andreessen Horowitz.