BUSINESSSEMAFOR
UAE ups pre-IPO stake in Anthropic
UAE-based MGX increased its pre-IPO stake in Anthropic following a $65 billion fundraise, which values the AI company at $965 billion. MGX, chaired by Sheikh Tahnoon bin Zayed, holds stakes in Anthropic, OpenAI, and xAI, all expected to go public in 2024. Anthropic initially rejected regional investments but later accepted funding from Gulf states including the UAE, Qatar, and Saudi Arabia.
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