Sam Altman says OpenAI does not want a government bailout for AI
The CEO says OpenAI only had discussions about ‘loan guarantees’ for building chip fabrication plants in the US
“We do not have or want government guarantees for OpenAI data centres,” Altman wrote in a lengthy social media post on Thursday. “Taxpayers should not bail out companies that make bad business decisions or otherwise lose in the market.”
Altman said OpenAI had only had discussions about “loan guarantees” about building semiconductor fabrication plants in the US, “where we and other companies have responded to the government’s call”.
The US Chips Act set aside US$39 billion in grants, US$75 billion worth of loans and loan guarantees, and 25 per cent tax credits to spur investment in semiconductor factories on US soil. In his post, Altman added: “We did not formally apply.”
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OpenAI has committed to spend US$1.4 trillion on data centres and chips to build more advanced AI systems and support the broader adoption of the technology. The scale of those financial commitments has reignited concerns about an AI bubble, given OpenAI remains an unprofitable business.