Changpeng Zhao, the founder of Binance, is reportedly exploring investment opportunities in data centres specializing in artificial intelligence (AI).
Despite facing potential legal hurdles, including a possible three-year prison sentence for alleged involvement in money-laundering schemes on his exchange, Zhao seems undeterred in his pursuit of new ventures.
According to sources familiar with the matter, Zhao has engaged in multiple discussions with Sam Altman, the CEO of OpenAI, regarding potential investments in AI-focused data centres.
These discussions have taken place despite the looming legal challenges Zhao faces.
The nature and specifics of these talks remain somewhat vague, with reports indicating Zhao’s particular interest in the field of artificial intelligence.
Zhao’s interactions with Altman reportedly began in 2023, before his resignation as CEO of Binance.
Following leadership changes at OpenAI in late November, the discussions between Zhao and Altman resumed.
During a meeting with Ronghui Gu, a computer science professor at Columbia University, in December 2023, Zhao confirmed his communication with Altman.
Gu noted that both Zhao and Altman share a belief in the transformative potential of AI in advancing technology and human knowledge.
Despite Zhao’s interest in investing in large data centres powering AI applications, it remains unclear whether his preferred investment target is OpenAI or its competitors.
Zhao has publicly expressed his post-legal issues plans, which include passive investing in areas such as blockchain, Web3, decentralized finance (DeFi), AI, and biotech.
Meanwhile, U.S. prosecutors are seeking a 36-month prison sentence for Zhao, citing the severity of his alleged crimes.
Zhao, who pleaded guilty to violating the Bank Secrecy Act in November 2023, awaits sentencing, scheduled for April 30.
Despite being out on a $175 million bond, his request to travel to Dubai was denied by a U.S. judge due to concerns about his considerable wealth and potential flight risk.
