ABU DHABI: Abu Dhabi’s state-backed investment firm MGX is in early-stage discussions to invest in ChatGPT-maker OpenAI’s chip venture, a UK-based media outlet reported on Friday, citing two sources.
MGX, a technology investment company established earlier this week, counts Abu Dhabi’s Mubadala and artificial intelligence firm G42 among its founding partners. Both MGX and OpenAI have not yet responded to Reuters’ request for comment on the matter. This news comes after a previous article published in a newspaper revealed that Singapore’s Temasek Holdings was also considering an investment in OpenAI.
UAE’s AI minister Omar Sultan Al Olama shared his views with the FT, stating that he envisions Elon Musk, owner of xAI, being involved in AI-related activities in the country. He expressed optimism about the possibility of Musk undertaking AI initiatives in the UAE.
The article further notes that AI startups received significant investment in the United States last year, with one-third of total investment directed towards them. OpenAI’s ChatGPT has emerged as a focal point in the race among startups to advance AI technology. The launch of ChatGPT in late 2022 drew attention to generative AI technologies, prompting substantial investments in chips and servers to support the widespread adoption of such applications.
