MGX, launched in 2024 by Abu Dhabi AI conglomerate G42 and sovereign wealth fund Mubadala, participated in Anthropic's $65 billion fundraise. MGX now owns stakes in three frontier model frontrunners: Anthropic, OpenAI, and xAI.
The funding round values Anthropic at $965 billion, above that of its rivals. Anthropic spends at least $1.25 billion a month on compute (the computational resources needed to train and run AI models).
Anthropic initially ruled out taking the region's money on national security and moral grounds, but backtracked. All three companies in which MGX holds stakes are expected to go public this year (xAI as part of its parent company SpaceX).
Ask the AI about this article →
For example, today's edition would include:
AI-summarized, only the topics you pick — one digest a day via Email, Slack, or Discord.
Free · takes 30 seconds · unsubscribe anytimeWhat is AIToday? →
Ask AI anything about this article. Q&As are published on this page for other readers too.
CrowdStrike Holdings Inc
ASE Technology CEO and SEMI Global Board Executive Committee Chair Tien Wu said AI's early-stage growth is cre…
Fervo Energy signed a deal to supply 396 MW of electricity from its Cape Station project in Utah to a Google d…
Nvidia co-announced with Vertiv in August that it is making progress on 800-volt power infrastructure for its…
John Ternus takes over as CEO of Apple today, stepping into the role as the company confronts the AI era
Top AI-native open source projects like Flue and tldraw are refusing external pull requests, often because the…
