New chip venture: OpenAI CEO Sam Altman is seeking an approval from the US government for his chip venture on AI, as per reports.

It was reported in January that Altman was looking to raise billions of dollars for setting up a manufacturing unit to manufacture artificial intelligence chips. 

The venture could potentially raise national security and antitrust concerns, as per Bloomberg. 

Altman informed potential investors and partners of being unable to move forward without a green light from Washington, as per sources cited in the report.

Altman has been engaging with potential investors and partners in the United States, Middle East, and Asia.

He also met with Commerce Secretary Gina Raimondo, and looking to set up meetings with other officials for getting them on board with his business plan.

The approvals are required since Altman believes collaboration with the US government is crucial for gaining approvals, and indicate a timeline to establish the venture’s structure.

OpenAI and the US Department of Commerce did not immediately respond to Reuters, or issue a comment on the development.

Notably, details pertaining to the involvement of potential partners in the likes of Taiwan Semiconductor Manufacturing, Intel Corp. and Samsung Electronics Co. have not been disclosed.

Altman may face a potential national security review of foreign investment by a committee led by the Treasury Department. Additionally, curbs on chip shipments to the Middle East levied by the Commerce Department would create further roadblocks for the venture.

Altman plans to minimise antitrust concerns by mulling on spinning off a different entity apart from OpenAI.

An exact roadmap for the venture is still under process, which includes a choice between focusing on building lower-level chips and software or conducting a more extensive overhaul of chip manufacturing capacity. 

(With agency inputs)