Conman Sukesh Chandrasekhar proposes $1B investment in OpenAI's Indian operations
What's the story
Sukesh Chandrasekhar, a man currently embroiled in legal troubles over alleged fraud, has offered a $1 billion investment in OpenAI.
The offer was extended to Sam Altman, the CEO of the artificial intelligence research lab.
In his letter to Altman, Chandrasekhar said he wants to contribute to India's National AI Agenda by investing in OpenAI's Indian operations.
Investment details
Chandrasekhar's appeal to Altman
Chandrasekhar's investment plan involves an immediate investment of $1 billion, promising another $2 billion over the next five years.
He urged Altman in his letter, "Sam why go to Venture capital Investors, why should the Big Boys always have the fun, Sam please just take my money."
The letter was sent from India's largest prison through Anantam Legal, a legal firm.
Business profile
Business ventures and future investment plans
In his letter, Chandrasekhar claimed to own a successful online gaming/betting platform that generates nearly $3 billion a year.
He said his businesses are based outside India, and expressed interest in investing in the country's tech and AI sectors.
This proposal comes after his earlier offer to acquire a controlling stake in Dharma Productions, a leading Indian film production company.
Previous offers
Chandrasekhar's past investment proposals and personal life
Apart from his latest proposal to OpenAI, Chandrasekhar has made other notable investment offers in the past.
Last year, he had offered to buy a 50-70% stake in Dharma Productions within 48 hours if terms were agreed upon.
In November, he had announced plans to invest $135 million in a Los Angeles studio as a tribute to his alleged girlfriend, Bollywood actor Jacqueline Fernandez.