(Reuters) – Abu Dhabi’s state-backed funding agency MGX is in early stage discussions to put money into ChatGPT-maker OpenAI’s chip enterprise, the Monetary Occasions reported on Friday, citing two sources.

MGX, a expertise funding firm with Abu Dhabi’s Mubadala and synthetic intelligence agency G42 as founding companions, was solely launched earlier this week.

MGX and OpenAI didn’t instantly reply to Reuters’ request for remark.

The report follows an earlier FT story that stated Singapore’s Temasek Holdings was in talks to put money into OpenAI.

The UAE’s AI minister Omar Sultan Al Olama instructed the FT that he additionally sees xAI proprietor Elon Musk doing one thing AI-related within the nation.

“I don’t suppose it is out for him (Musk) to do one thing right here,” Olama instructed the FT.

AI startups attracted one out of each three {dollars} invested final yr in the USA, and OpenAI’s ChatGPT grabbed the highlight as startups raced to develop AI expertise.

The launch of OpenAI’s ChatGPT in late 2022 introduced consideration to generative AI applied sciences, spurring billions in investments on chips and servers required to assist the adoption of such functions.

(This story has not been edited by News18 workers and is printed from a syndicated information company feed – Reuters)