Two tech CEOs met for a brainstorming session in San Jose, California, as the AI chip market continues to boom. Intel CEO Pat Gelsinger and OpenAI CEO Sam Altman discussed their plans to catch up to Nvidia, the current leader in the market. Nvidia reported a nearly quadrupled revenue for the November-January period, solidifying its position as a powerhouse in the industry.

Gelsinger outlined Intel's strategy to revitalize the company through AI-equipped chips, dubbing the surge as the "Siliconomy." Altman, on the other hand, emphasized the need for more processing power to advance AI technology further. OpenAI, backed by Microsoft, has become a prominent player in the field since releasing its popular AI innovation, ChatGPT, in late 2022.

Altman avoided confirming reports of trying to raise as much as $7 trillion to expand manufacturing capacity for AI chips, highlighting the growing demand for such technology. He discussed the potential of AI to generate more content than humans in the future, emphasizing the positive impact it could have on society.

Meanwhile, Nvidia has experienced significant growth, becoming one of the most valuable publicly traded companies in the U.S. Intel, under Gelsinger's leadership, is aiming to compete with Nvidia by expanding into making chips for other firms and investing in new factories. Gelsinger predicted that Intel would become the world's second-largest foundry business by 2030, meeting the demand for AI chips.

Despite Gelsinger's efforts, Intel's stock price has fallen while Nvidia's shares have soared, reflecting investor skepticism. Intel is also vying for a portion of the $52 billion allocated by the U.S. Commerce Department to boost manufacturing capacity in the processor market. Commerce Secretary Gina Raimondo expressed astonishment at the growing demand for AI chips, promising more funding announcements to support the industry's expansion.