Singapore’s investment firm Temasek Holdings is reportedly in negotiations to invest in OpenAI, a prominent artificial intelligence company backed by Microsoft. According to the Financial Times, executives from Temasek have held multiple meetings with Sam Altman, the CEO of OpenAI, in recent months.
OpenAI has not yet responded to requests for comment from Reuters, and Temasek has declined to comment on the matter.
Altman is said to be seeking to raise between $5 trillion to $7 trillion to establish a network of AI chip factories.
Last year, AI startups received a significant share of investment in the United States, with one-third of all dollars invested flowing into this sector. This heightened investor interest followed the success of OpenAI’s ChatGPT and the subsequent race among startups to advance AI technology.
Temasek has a substantial presence in the technology sector, boasting a portfolio valued at S$382 billion ($284.21 billion) as of March 31. Among the notable companies in its portfolio are Roblox, Tencent, and Alibaba.