- The UAE-based MGX has invested $6.6 billion in OpenAI through a secondary share sale.
- The deal values OpenAI at $500 billion, making it one of the most highly valued tech companies in the world.
- This investment strengthens the UAE’s presence in the global artificial intelligence landscape and supports OpenAI’s plans to expand its cloud infrastructure.
OpenAI, the U.S.-based artificial intelligence company, has announced a $6.6 billion investment from the UAE’s MGX through a secondary share sale, bringing the company’s valuation to $500 billion.
MGX, a UAE-based technology investment firm, was among the early global backers of OpenAI, having participated in a convertible debt round last year valued at $157 billion.
The deal follows a major funding round closed in August, during which OpenAI raised $40 billion at a $300 billion valuation, with participation from leading global investors including:
- SoftBank
- Thrive Capital
- T. Rowe Price
- Dragoneer
- Major investment firms such as Blackstone and TPG
- Venture capital giants Founders Fund, Sequoia Capital, and Andreessen Horowitz
OpenAI aims to use the new funding to support large-scale infrastructure projects as part of its plan to expand its technical capabilities. The company has committed to spending $300 billion on cloud computing services from Oracle over the next five years — an unprecedented investment that underscores its ambition to advance generative AI technologies on a global scale.
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