OpenAI Adds BlackRock’s Adebayo Ogunlesi to Board as AI infrastructure push intensifies

Source Cryptopolitan

OpenAI includes Blackrock Inc. executive Adebayo Ogunlesi on its board of directors. The AI startup is hoping to use his expertise to advance the development of its artificial intelligence infrastructure. 

The company is prioritizing its resources on data centers and new energy resources.

Ogunlesi earns another board position after joining Blackrock just last year

Adebayo Ogunlesi joined Blackrock Inc. last year after they acquired his company, Global Infrastructure Partners, for about $12 billion. After that acquisition, Ogunlesi became worth about $2.3 billion and is currently Blackrock’s Senior Managing Director and a board member.

Before founding Global Infrastructure Partners, Ogunlesi worked for more than twenty years at Credit Suisse, an investment banking company.

Not to mention, he holds other board positions at Topgolf Callaway Brands, Kosmos Energy Holdings, and Terminal Investment Ltd.

Now, OpenAI wants to use Ogunlesi’s experience to better itself, inviting him to join its board of directors. OpenAI has been trying to acquire more data centers and energy resources to grow its infrastructure; at this time, calling Ogunlesi might help.

On Tuesday, Ogunlesi shared his willingness to work with the AI startup: 

As part of this, thoughtful strategies and investment in infrastructure will be key to unlocking AI’s full potential and delivering its benefits responsibly. I’m excited to contribute to this effort and look forward to being a part of the OpenAI Board.

Adebayo Ogunlesi

OpenAI began restructuring its board in late 2023, adding two new members in 2024: Instacart CEO Fidji Simo and Dr. Sue Desmond-Hellmann, former CEO of the Bill & Melinda Gates Foundation, now known as the Gates Foundation.

OpenAI is planning to launch new AI projects in the coming months

OpenAI has increasingly invested in new infrastructure projects, asking for funding from the private and public sectors. According to Joe Dominguez, CEO of Constellation Energy Corporation, CEO Altman wants to build five to seven data centers, each 5GW.

Another source claimed that Open AI wants to devote its attention to a single data center before potentially expanding to others.

Besides, the AI startup is still planning to host several events in Washington, D.C., and two key swing states to rally support and investments. The company has also planned its “economic blueprint” for AI this January, calling on public and private sectors to collaborate in AI developments to ensure the US stays ahead of China.

The company is also set to announce new AI projects in Pennsylvania, North Carolina, and Alabama in the coming months.

From Zero to Web3 Pro: Your 90-Day Career Launch Plan

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Weekly Market Outlook: U.S. October CPI Focus and Powell and Fed Officials SpeakInsights – This week, the U.S. will release October CPI data, with inflation expected to face challenges in easing further. Retail sales data will also be closely watched for insights into the economy, guiding the Fed's future policy.
Author  Mitrade
Nov 11, 2024
Insights – This week, the U.S. will release October CPI data, with inflation expected to face challenges in easing further. Retail sales data will also be closely watched for insights into the economy, guiding the Fed's future policy.
placeholder
October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changedRate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
Author  Irene Q.
Sep 23, Wed
Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
placeholder
【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonightThe 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
Author  Suzie
Sep 30, Wed
The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
placeholder
Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflationGold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
Author  FXStreet
Oct 01, Thu
Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
placeholder
Euro softens below 1.1250 on France’s fiscal riskThe EUR/USD pair loses momentum to around 1.1245 during the early Asian session on Monday. The Euro (EUR) weakens against the US Dollar (USD) amid fears over France's shaky fiscal trajectory. The US ISM Services Purchasing Managers Index (PMI) report is due later on Monday. 
Author  FXStreet
11 hours ago
The EUR/USD pair loses momentum to around 1.1245 during the early Asian session on Monday. The Euro (EUR) weakens against the US Dollar (USD) amid fears over France's shaky fiscal trajectory. The US ISM Services Purchasing Managers Index (PMI) report is due later on Monday. 
goTop
quote