• Sam Altman, the Chief Executive Officer of generative artificial intelligence startup OpenAI, is looking for investors for semiconductor startup Rain AI, The New York Post reported.
• Altman is promoting an upcoming $150M Series B funding round that would value the company at roughly $600M, the news outlet added, citing a source with direct knowledge of the situation. Sources told the news outlet that Rain AI's processors are more energy efficient and powerful than Nvidia’s, though they did not specify how.
• OpenAI is backed by billions of dollars from Microsoft (NASDAQ:MSFT) and routinely purchases AI accelerators from Nvidia to train its large language models. It also purchases processors from AMD (AMD) and is reported to be working with Broadcom (AVGO) to build its own custom chips.
• OpenAI and Rain AI did not immediately respond to a request for comment from Seeking Alpha.

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