OpenAI’s Chip Venture in Discussions with Abu Dhabi-backed Firm for Investment
(Reuters) – Abu Dhabi’s state-backed investment firm MGX is in early talks to invest in ChatGPT maker OpenAI’s chip venture, the Financial Times reported on Friday, citing two sources.
MGX, a technology investment firm co-founded by Abu Dhabi’s Mubadala and artificial intelligence firm G42, only launched earlier this week.
MGX and OpenAI did not immediately respond to Reuters’ request for comment.
The report follows an earlier FT story that Singapore-based Temasek Holdings is in talks to invest in OpenAI.
UAE AI Minister Omar Sultan Al Olama told the FT that he also sees xAI owner Elon Musk doing something related to AI in the country.
“I don’t think it’s far off for him (Musk) to do something here,” Olama told the FT.
AI startups attracted one in three dollars invested in the US last year, and OpenAI’s ChatGPT grabbed the spotlight as startups raced to develop AI technology.
The launch of OpenAI’s ChatGPT in late 2022 drew attention to generative AI technologies, spurring billions in investment in the chips and servers needed to support the deployment of such applications.
