Abu Dhabi

A state-funded investment firm in Abu Dhabi is considering backing OpenAI's chip project. According to the Financial Times, MGX has held discussions with CEO Sam Altman to help fund the project, which is seen as a way to reduce its reliance on Nvidia GPUs. OpenAI is reportedly seeking funding to support its ambitious chip development program. In February, it was reported that Altman was seeking up to $7 trillion to cover AI chip design and manufacturing, but he has denied those claims. Even a smaller...

Earlier this year, the UAE established the Artificial Intelligence and Advanced Technology Committee, which on Monday (today) local time announced the establishment of a technology investment company to drive the development and application of cutting-edge technologies, local UAE media outlet Aletihead reported. Image source Pexels The company is said to be based on the idea of improving the lives of the current, and next generation, and will invest in accelerating the development and application of artificial intelligence and advanced technologies through world-leading partnerships in the UAE and globally. The company's investment strategy is focused on three main areas, which IT House has organized as follows:...