OpenAI’s AI Chip Venture To Secure Funding From Abu Dhabi’s MGX

Amid the global dash for AI supremacy witnessed recently, an intriguing investment venture orbiting the world’s most prominent generative AI services offering company, OpenAI, appears to be garnering noteworthy interest among industry prominencies globally. According to a report, MGX, Abu Dhabi’s state-backed investment firm, recently went into the initial stages of discussions with OpenAI, eyeing injecting funds into Sam Altman’s firm’s AI chip venture.

MGX, a tech investment firm, made its debut earlier this week with founding members Mubadala (Abu Dhabi) and G42. With the aforementioned investment plans coming into play promptly following the firm’s inception, the entity marks a pivotal move aligning with its staging as a technology investment firm, curating ripples across the AI landscape.

UAE Eyeing Emerging As The AI Hub?

In an exciting turn of events, the UAE’s AI minister, Omar Sultan Al Olama, revealed that in addition to the abovementioned investment chronicle, he also eyes xAI’s owner Elon Musk’s AI-related venture into the nation. “I don’t think it’s far out for him to do something here,” the AI minister said. This underscores a monumental chance for the UAE to further cement its foothold as an AI pioneer globally.

Meanwhile, with the burgeoning rise and adoption of crypto in recent days, the UAE has already affirmed its stance on boosting and supporting newly emerging technologies. With MGX’s plans to invest in the world’s most renowned AI-related company, the UAE further showcases nationwide plans to empower AI, with Musk’s potential AI-related saga, as mentioned above, further joining the fray.

Also Read: Crypto Market Selloff: Top Reasons Why Bitcoin, ETH, XRP, ADA, SHIB Crash Today

OpenAI Leads The Charge In AI Advancements

In addition to the abovementioned developmental endeavors OpenAI embarked upon, insights floating across the industry also revealed that Singapore’s Temasek Holdings is eyeing investment in OpenAI and forging ahead into initial discussions with the AI giant. With the sudden and abrupt rise of the AI sector observed recently, OpenAI promptly staged as a pioneer, fueling immense income opportunities among investors across the globe.

Also Read: NFT Train Ticket Options Winning Over Tech Enthusiasts In India

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.