MGX

OpenAI is reportedly seeking to raise $40 billion in funding, with major investments from Saudi Arabia's Public Investment Fund (PIF), India's Reliance Industries and the existing shareholder UAE's MGX. What Happened: Each investor could contribute at least several hundred million dollars, reported...

Eric Trump, the executive vice president of The Trump Organization, said that the Trump family-backed stablecoin USD1 has been chosen to close Abu Dhabi investment firm MGX's $2 billion deal with cryptocurrency exchange Binance.  What happened: President Donald Trump's second son made the...

Sam Altman, CEO of OpenAI, is reportedly set to visit the United Arab Emirates this week to engage in fundraising discussions with Abu Dhabi-based investment firm MGX. What Happened: Altman's visit has been confirmed by two sources, as per a report by Reuters. This visit comes at a pivotal time for...

Technology giant Microsoft Corporation (NASDAQ:MSFT) is teaming up with investment company BlackRock and several other partners on a new $30 billion investment fund to target the growing artificial intelligence sector. What Happened: The new investment, which adds to Microsoft's growing bets on the...

A newly established investment firm in Abu Dhabi is reportedly in discussions to back OpenAI‘s chip ambitions. What Happened: A new Abu Dhabi investment firm, MGX, is reportedly negotiating to invest in OpenAI’s ambitious semiconductor project, the Financial Times reported on Thursday...