Altman Sought Billions For Chip Venture Before OpenAI Ouster

  • Altman was fundraising in the Middle East for new chip venture
  • The project, code-named Tigris, is intended to rival Nvidia

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 traveling to the Middle East to fundraise for the project, which was code-named Tigris, the people said. The OpenAI chief executive officer planned to spin up an AI-focused chip company that could produce semiconductors that compete against those from Nvidia Corp., which currently dominates the market for artificial intelligence tasks. Altman’s chip venture is not yet formed and the talks with investors are in the early stages, said the people, who asked not to be named as the discussions were pr