US compels Saudi fund to exit Sam Altman-backed AI chip startup

The Biden administration has forced a Saudi Aramco-backed venture capital firm to sell its shares in a Silicon Valley AI chip startup backed by OpenAI co-founder Sam Altman, Bloomberg News reported on Thursday.

Altman-backed Rain Neuromorphics, a startup designing chips that mimic the way the brain works and aims to serve companies using artificial intelligence (AI) algorithms, raised $25 million in 2022.

https://www.moneycontrol.com/news/world/us-compels-saudi-fund-to-exit-sam-altman-backed-ai-chip-startup-11837331.html