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Abu Dhabi-Based MGX Participates in $6.6 Billion OpenAI Funding Round
The funding round, the largest in venture capital history, is expected to boost OpenAI's valuation to $157 billion.
Oct 03, 2024
Abu Dhabi's state-backed investment firm, MGX, played a pivotal role in a record-setting $6.6 billion funding round for OpenAI, the creator of ChatGPT. This funding round, the largest in venture capital history, is expected to boost OpenAI's valuation to $157 billion.
Other key investors in this round included Microsoft, Thrive Capital and Khosla Ventures, with new participation from advanced semiconductor manufacturer Nvidia.
The completion of this funding coincides with OpenAI's ongoing restructuring efforts and executive changes, notably the unexpected departure of its longtime Chief Technology Officer, Mira Murati.
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