Abu Dhabi's MGX Eyes Investment in OpenAI Chip Venture

Mubadla and G42 are the founding partners of MGX.

By Inc.Arabia Staff
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Abu Dhabi's state-backed investment company MGX is currently engaged in preliminary discussions regarding an investment in OpenAI's chip venture.[1]

Mubadla and G42 are the founding partners of MGX. The UAE's AI minister, Omar Sultan Al Olama, expressed in an interview with the Financial Times his anticipation of xAI founder Elon Musk's involvement in AI-related endeavors in the country.

In the US, AI startups accounted for one-third of total investment dollars last year, with OpenAI's ChatGPT drawing significant attention as startups raced to advance AI technology.

The introduction of OpenAI's ChatGPT in late 2022 underscored the significance of generative AI technologies, prompting substantial investments in the chips and servers essential for the widespread adoption of such applications.

In December, G42 CEO Peng Xiao outlined the company's intentions to decrease reliance on Chinese hardware, a strategic move believed by experts to address pressures from the US regarding technological partnerships between Abu Dhabi and Beijing.

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