Singapore's Temasek in talks to invest in OpenAI, FT reports


A Temasek signage is pictured at their annual Temasek Review in Singapore July 11, 2023. REUTERS/Edgar Su/File Photo

(Reuters) -Singapore's Temasek Holdings is in discussions to invest in Microsoft-backed artificial intelligence company OpenAI, the Financial Times reported on Tuesday, citing two people familiar with the matter.

Senior executives at Singapore's state investment firm have met ChatGPT maker's CEO, Sam Altman, multiple times in recent months, the report added.

OpenAI did not immediately respond to Reuters requests for comment, while Temasek declined to comment on the report.

Temasek was interested in investing in Altman's venture capital fund Hydrazine Capital at first, but recent talks included the AI non-profit, the Financial Times reported, citing a separate source.

The deal with Temasek is the first since reports surfaced last month that OpenAI's Altman was looking to raise about $5 trillion to $7 trillion for a network of AI chip factories.

AI startups attracted one out of every three dollars invested last year in the United States, as OpenAI's ChatGPT grabbed the spotlight and startups raced to develop AI technology.

The launch of OpenAI's ChatGPT in late 2022 brought attention to generative AI technologies, spurring billions in investments on chips and servers required to support the adoption of such applications.

Some of OpenAI's investors excluding Microsoft, which is its largest, include Khosla Ventures, Thrive Capital, Andreessen Horowitz and Sequoia Capital.

OpenAI completed a deal to sell existing shares in a tender offer that valued the artificial intelligence company at $80 billion or more, the New York Times reported last month, citing people with knowledge of the deal.

Temasek is an active investor in the tech sector with a portfolio valued at S$382 billion ($284.21 billion), as of March 31. Some of the companies in the portfolio include Roblox, Tencent and Alibaba.

($1 = 1.3441 Singapore dollars)

(Reporting by Akash Sriram in Bengaluru; Editing by Shinjini Ganguli)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Exclusive-Northrop Grumman working with Musk's SpaceX on U.S. spy satellite system
Binance working closely with Nigeria authorities to resolve exec's detention, CEO says
Critics of India's Modi migrate online as mainstream media stays deferential
3,000-member revenge porn group had underage victims, US officials say. Creator arrested
Huawei unveils new phone lineup to ramp up the pressure on Apple
Binance obtains Dubai licence to target retail clients
Parents find camera disguised as phone charger in girl’s room, US cops say. Man charged
What to do if your personal info has been exposed in a data breach
AI-generated child pornography is circulating. This US prosecutor wants to make it illegal.
Study links excessive Internet use to teen school absence risk

Others Also Read