A look at MGX, Abu Dhabi's AI investment vehicle that has Anthropic, xAI, and OpenAI stakes; the firm plans to spend up to $10B annually over the next few years
Government-backed AI investor MGX has a bullish plan to spend up to $10 billion annually over the next few years.
ByteDance strikes a deal with a group of non-Chinese investors to create a new TikTok US entity and avoid a federal ban, concluding a six-year legal saga
Here's all you need to knowAnkita Chakravarti /Moneycontrol:TikTok avoids US ban after sealing last-minute dealJoy Chakravarty /Arabian Business:Abu Dhabi's MGX buys 15% stake to keep TikTok alive in ...
TikTok's new majority US-owned JV includes investors Oracle, Silver Lake, and Abu Dhabi's MGX, each holding 15%, and Dell Family Office; ByteDance retains 19.9%
Video app sets up American unit to handle data and algorithm security — TikTok has established a US data security unit …
Memo: the TikTok US deal is set to close on Jan. 22; terms include retraining the recommendation algorithm on US user data and Oracle overseeing data protection
Revamped ‘TikTok USA’ Expected Next Month Wesley Hilliard / AppleInsider : US investors to close deal on 50% ownership of TikTok January 22 Sports Business Journal : TikTok sale becomes official, with...
Internal memo: TikTok has signed a deal to sell its US unit; Oracle, Silver Lake, MGX will collectively own 45% of the US entity, and ByteDance will retain ~20%
TikTok has signed a deal to divest its U.S. entity to a joint venture controlled by American investors, per an internal memo seen by Axios.
Source: OpenAI employees sold shares worth ~$6.6B to a consortium of investors including Thrive Capital, SoftBank, Dragoneer, Abu Dhabi's MGX, and T. Rowe Price
OpenAI, the company behind ChatGPT, has reached a valuation of $500 billion, following a deal in which current …
Sources: Oracle, Silver Lake, and Abu Dhabi's MGX will be the main TikTok USA investors, with a ~45% stake; ByteDance will own 19.9% and ByteDance investors 35%
We may never know if the administration-brokered TikTok sale complies with the law … New York Times : Trump Clears Way for American-Owned TikTok Valued at $14 Billion Financial Times : TikTok US to be...
Sources: Mistral is in discussions, including with Abu Dhabi's MGX, to raise $1B at a valuation of about $10B, up from its previous valuation of €5.8B
Financial Times :
Sources: Mistral AI is in talks to raise as much as $1B in equity from investors, including Abu Dhabi fund MGX; Mistral has raised €1B+ since its 2023 founding
Bloomberg :
Morgan Stanley says xAI raised $5B of equity in addition to $5B in debt; the startup raised $6B in December from a16z, BlackRock, Lightspeed, MGX, and others
Elon Musk's xAI raised $5 billion of equity in addition to $5 billion in debt, according to Morgan Stanley, which advised on the debt transactions.