Binance’s CZ in talks with Sam Altman to explore AI investments

Binance founder Changpeng Zhao appears to be planning to invest in data centers focused on artificial intelligence as part of his search for new investment opportunities.

Former Binance boss Changpeng Zhao (CZ), despite potentially facing a three-year prison sentence for allegedly enabling various money laundering schemes on his exchange, reportedly had multiple meetings with OpenAI CEO Sam Altman while exploring new ventures, The New York Times Knows the matter He learned by quoting people.

Details of Zhao’s conversations with Altman remain thin; sources only say that the former Binance president is specifically interested in artificial intelligence. According to the report, Zhao first met Altman in 2023, before he left as CEO of Binance. Following leadership changes at OpenAI in late November, Zhao and Altman had another round of talks, the public said.

In December 2023, Zhao confirmed that he had contacted Altman in a meeting with Ronghui Gu, a computer science professor at Columbia University. In an interview with the New York Times, Gu said that Zhao and Altman “believe that artificial intelligence will be very helpful in realizing the advancement of technology and human knowledge.”

Gu also added that the Binance founder stated that he is “looking for opportunities” to invest in large data centers that support artificial intelligence applications, but Zhao’s preferred investment target (OpenAI or its competitors) remains unclear.

Today I resigned as CEO of Binance. Undoubtedly, giving up emotionally was not easy. But I know it’s the right thing to do. I made mistakes and I must take responsibility. This is best for our community, Binance, and me.

Binance is no longer a baby. This…

— CZ 🔶 BNB (@cz_binance) 21 November 2023

Inside an X post In November, Zhao spoke publicly about his plans following legal troubles and mentioned his interest in investing in web3, decentralized finance and artificial intelligence.

“From now on, my current thinking is that I will probably invest passively, becoming a minority token/shareholder in startups in blockchain/Web3/DeFi, AI and biotech.”

Changpeng Zhao

US prosecutors, meanwhile, are seeking a 36-month prison sentence for Zhao, citing the seriousness of the alleged crimes. They argue that such a sentence would deter Zhao and others from breaking U.S. laws for financial gain. Zhao, who pleaded guilty to violating the Bank Secrecy Act in November 2023, is currently awaiting sentencing, which is scheduled for April 30. Although he is free on $175 million bail, his request to travel to Dubai was denied by a US judge due to concerns. his significant wealth and potential flight risk.