It has been learnt that the United Arab Emirates state-backed MGX is in talks to invest in OpenAI as part of a multibillion-dollar fundraising round.
According to media reports, OpenAI, which created the text-generating AI chatbot ChatGPT, is trying to raise as much as $6.5 billion in a funding round that would value it at $150 billion.
Venture Capital firm Thrive Capital has committed $1 billion and will lead the round, while Microsoft, Apple, and Nvidia are also in talks to invest. MGX, as reported, hasn’t determined the size of the potential investment in OpenAI.
MGX was set up in January 2024 with Sheikh Tahnoun Bin Zayed Al Nahyan as board chair to invest in artificial intelligence projects and is backed by Abu Dhabi’s sovereign investor Mubadala and the UAE-based artificial intelligence company G42.
