Abu Dhabi's MGX Nears Deal to Join Anthropic's Over $20 Billion Funding Round

Deep News
Feb 11

According to informed sources, Abu Dhabi's MGX is close to finalizing an agreement to participate in Anthropic's latest funding round, increasing its investment in the prominent artificial intelligence startup. MGX is negotiating an investment of several hundred million dollars in Anthropic as part of this round, which is expected to total over $20 billion. An announcement regarding the proposed investment could be made within the coming days. However, no final decision has been reached yet, and the size and structure of the investment may still change. Representatives for MGX declined to comment, while an Anthropic spokesperson did not immediately respond to requests for comment. As a competitor to OpenAI, the company initially aimed to raise $10 billion, but strong investor demand has driven the current funding round to potentially exceed twice the original target, based on a valuation of $35 billion. Bloomberg News previously reported that in the latest round, Coatue Management, Singapore's GIC Pte, and Iconiq Capital have each committed over $1 billion.

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