Singapore's Temasek in talks to invest in OpenAI, FT reports
A woman passes a logo of state investor Temasek Holdings at their office in Singapore. (File photo: Reuters/Edgar Su)
Singapore's Temasek Holdings is in discussions to invest in Microsoft-backed artificial intelligence company OpenAI, the Financial Times reported on Tuesday (Mar 5), 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.
In response to queries from CNA on Tuesday, Temasek said it does not comment on market speculation.
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 US$5 trillion to US$7 trillion for a network of AI chip factories.
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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 US$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 (US$284.21 billion), as of Mar 31. Some of the companies in the portfolio include Roblox, Tencent and Alibaba.
