OpenAI’s Chip Venture Is Seeking Investment Discussions With Firm Backed by Abu Dhabi
(Reuters) – According to two sources cited by the Financial Times on Friday, ChatGPT producer OpenAI’s chip business is in the early stages of negotiations for investment by Abu Dhabi’s state-backed investment company, MGX.
Launched only last week, MGX is a technological investment business with founding partners Mubadala of Abu Dhabi and G42, an artificial intelligence corporation.
MGX and OpenAI did not respond to Reuters’s request for comment right away.
The news comes after an earlier FT article claiming that Temasek Holdings, a company based in Singapore, was in discussions to acquire OpenAI.
Omar Sultan Al Olama, the UAE’s minister of artificial intelligence, told the Financial Times that he also envisions Elon Musk, the owner of xAI, using AI in the nation.
Olama told the FT, “I don’t think it’s far out for him (Musk) to do something here.”
One in three dollars invested in US startups last year went to AI companies, with OpenAI’s ChatGPT taking center stage as these businesses raced to create AI technologies.
After generative AI technologies were introduced with OpenAI’s ChatGPT in late 2022, billions of dollars were invested in the processors and servers needed to enable the use of these applications.
