Anthropic
September 23, 2024
Anthropic Unicorn News - September 23, 2024
Middle Eastern sovereign wealth funds, notably from the UAE, are significantly increasing their investments in AI startups, including a major investment in Anthropic by Mubadala. This strategic move aims to diversify economic resources amidst fluctuating energy prices.
() Introduction
() Middle Eastern Sovereign Wealth Funds Invest Heavily in AI Startups
On September 22, 2024, it was reported that Middle Eastern sovereign wealth funds, particularly from the UAE, have significantly increased their investments in AI startups. Mubadala, a UAE-based firm, has notably invested in the AI startup Anthropic, a competitor to OpenAI. This investment surge is part of a broader strategy by Middle Eastern sovereign wealth funds to diversify their economies amid rising energy prices. For example, Abu Dhabi-based MGX, in collaboration with BlackRock, Microsoft, and Global Infrastructure Partners, announced plans to potentially raise up to $100 billion for AI infrastructure investments. Anthropic has been selective about its funding sources, previously declining funding from Saudi sources due to national security concerns, highlighting the complex geopolitical considerations AI startups must navigate.
