OpenAI, the creator of ChatGPT, is currently in discussions to raise funds amounting to $40 billion. This initiative includes talks with Saudi Arabia’s Public Investment Fund (PIF), India’s Reliance Industries, and existing shareholder MGX from the United Arab Emirates, as reported by The Information and Yahoo According to sources familiar with the situation, each of...
MGX, BlackRock, Global Infrastructure Partners (GIP), a subsidiary of BlackRock, and Microsoft have announced the inclusion of the Kuwait Investment Authority (KIA) into their AI infrastructure partnership. This collaboration aims to drive advancements in artificial intelligence and enhance infrastructure capabilities. Credit: Abu Dhabi Media Office The partnership signifies a commitment to fostering AI innovation and...
Abu Dhabi’s technology investment fund MGX is collaborating with US chipmaker Nvidia and French companies to develop Europe’s largest artificial intelligence data center, located near Paris. This significant initiative was announced at the Choose France summit held in Versailles. The project involves a 1.4 gigawatt-capacity campus and includes partnerships with France-backed investment firm Bpifrance and...
Nvidia and Elon Musk’s xAI have recently joined a consortium supported by Microsoft, the UAE investment fund MGX, and BlackRock to enhance artificial intelligence (AI) infrastructure in the United States. This announcement was made on Wednesday amidst an escalating global competition to lead in the emerging AI technology space. The consortium, which was formed last...
Abu Dhabi-based investment firm MGX is making strides in the United States by expanding its team with key hires from prestigious firms. The company’s latest appointments include Andy Pickens, who has taken on the role of managing director and AI product lead at MGX’s New York office. Pickens was previously a managing director at Apollo...
Abu Dhabi’s MGX has made a landmark investment of $2 billion in Binance, marking the first institutional investment in the world’s largest cryptocurrency exchange. This significant move into the cryptocurrency sector comes as MGX seeks to diversify its portfolio, particularly into blockchain and related technologies. According to Bloomberg, the investment represents MGX’s inaugural entry into...
Abu Dhabi is quickly becoming a major player in the field of artificial intelligence (AI). This is because it recently launched MGX, a specialized fund that has recently joined Donald Trump’s Stargate project to improve American AI capabilities. Many people are calling this project the start of a new golden age for the Gulf area....