UAE set to help fund OpenAI’s in-house chips - Artificial Intelligence - NewsUAE set to help fund OpenAI’s in-house chips - Artificial Intelligence - News

OpenAI Secures Potential Investment from UAE for ai Chip Development

A potential investment by the United Arab Emirates (UAE) in OpenAI, the ai company aiming to develop its own semiconductor chips for advanced ai models, could propel the ambitious project forward, according to a report from Financial Times.

Investment from MGX: A State-Backed Abu Dhabi Group

Abu Dhabi’s ai-focused fund, MGX, is in talks with OpenAI to support its venture of building ai chips internally. The move follows the UK semiconductor sector gaining enhanced access to research funding through participation in the EU’s Chips Joint Undertaking.

Reducing Dependence on Global Leaders

By manufacturing its own chips, OpenAI aims to cut its reliance on Nvidia, the global leader in semiconductor chip technology. In February 2023, the company also signed a deal with Thrive Capital worth reportedly trillions of dollars.

UK-EU Participation in Chips Joint Undertaking

The UK’s involvement in the Chips Joint Undertaking provides enhanced access to a €1.3 billion pot of funds for semiconductor technologies up to 2027. The move has been backed by initial £5 million from the UK government this year, with an additional £30 million due for supporting UK participation in further research between 2025 and 2027.

UAE and UK-EU: Key Players in Semiconductor Innovation

Both the UAE and the UK-EU are positioning themselves as key players in the race to develop cutting-edge semiconductor technologies.

By Kevin Don

Hi, I'm Kevin and I'm passionate about AI technology. I'm amazed by what AI can accomplish and excited about the future with all the new ideas emerging. I'll keep you updated daily on all the latest news about AI technology.