UAE Setting Up AI-focused fund to Build its Own Chip

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OpenAI, a big player in AI, is thinking about making its own computer chips to power its advanced AI models. And guess what? The United Arab Emirates (UAE) might help them out. Source

A group from Abu Dhabi called MGX, which is backed by the UAE government, is talking to OpenAI about supporting their plan to make AI chips. This news comes from two people who know about the talks.

OpenAI wants to make its own chips so it doesn’t have to rely on companies like Nvidia for them. To make this happen, they’re looking for investors to put in trillions of dollars.

Last year, OpenAI got a big investment from Thrive Capital, which made the company worth more than $80 billion. That’s almost three times what it was worth less than a year before!

Meanwhile, in the UK, the semiconductor sector is getting more money for research thanks to a partnership with the EU.

This partnership will give UK researchers access to a big pot of money to study semiconductor technology until 2027.

Over in the UAE, MGX is setting up an AI-focused fund to invest in cool projects like OpenAI’s chip-making plan.

This fund, led by Sheikh Tahnoon Bin Zayed al-Nahyan, is working with other big groups like G42 and Mubadala. G42 has already teamed up with OpenAI last year to bring AI solutions to the Middle East.

One person in the know says that MGX wants to make Abu Dhabi a big hub for AI with partners from all over the world.

With countries like the UAE and the UK-EU jumping into the race to make better chips, it’s clear that everyone wants a piece of the action in the world of high-tech semiconductor technology.

Dienye Diri
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