Altman seeking billions for chip venture

In the limelight: Altman speaks during a talk at Tel Aviv University in Israel. Existing investors in OpenAI are ready to back any new venture Altman forms. — Reuters

SAN FRANCISCO: In the weeks leading up to his shocking ouster from OpenAI, Sam Altman was actively working to raise billions from some of the world’s largest investors for a new chip venture, according to people familiar with the matter.

Altman had been travelling to the Middle East to fundraise for the project, which was code-named Tigris, the people said.