New York: According to sources cited in a report by a reputable media outlet, Abu Dhabi’s state-backed investment firm MGX is currently in preliminary discussions regarding an investment in OpenAI’s chip venture.
MGX, a technology investment company established with founding partners Mubadala from Abu Dhabi and artificial intelligence firm G42, was recently launched earlier this week.
Requests for comments from both MGX and OpenAI have yet to be answered.
This development follows a previous report by the FT stating that Temasek Holdings from Singapore was also exploring investment opportunities with OpenAI.
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Omar Sultan Al Olama, the UAE’s AI minister, shared with the FT his anticipation of Elon Musk, owner of xAI, engaging in AI-related ventures within the country.
“I don’t think it’s far out for him (Musk) to do something here,” Olama expressed to the FT.
Last year, AI startups in the United States secured one-third of all invested capital, with OpenAI’s ChatGPT notably drawing significant attention as companies raced to advance AI technologies.
The debut of OpenAI’s ChatGPT in late 2022 propelled generative AI technologies into the spotlight, prompting substantial investments in the necessary chips and servers to support the integration of such applications.
