It cements MGX as one of the largest tech funders out there.
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MGX, the Abu Dhabi-backed investor in OpenAI and xAI, has raised nearly $50 billion that it will plow into the AI sector, Bloomberg reports.
Why it matters: It cements MGX as one of the largest tech funders out there.
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Abu Dhabi's MGX AI fund has raised nearly $50bn from outside investors and is already deploying it across OpenAI, xAI, chips and…
Abu Dhabi's MGX has raised nearly $50 billion for AI investments, including a record $2 billion Binance stake, as it targets $100…
Abu Dhabi's MGX, launched last year, has emerged as one of the key players funding the AI boom and is now part owner of TikTok's…
The funding round adds $5 billion to the $10 billion funding round reported in September, which valued the startup at $200…
Competitors OpenAI and Anthropic have raised significant funds in recent months as demand for foundational models skyrockets.
Elon Musk's AI said it raised $20 billion in new funding after CNBC reported in November that a financing round would value the…
