UAE-based Shorooq has participated in a $1.03 billion funding round for French artificial intelligence (AI) startup AMI Labs, founded by former Meta chief AI scientist Yann LeCun. 

The new investment, which also drew support from heavyweights like Nvidia, Temasek and Mark Cuban, brings the startup’s valuation to around $4.5 billion. The proceeds will support AMI’s plan to develop AI systems that can understand cause and effect, as well as how the physical world works.

Shorooq, which has interests in venture capital, credit, private equity and real assets, said its investment in AMI aligns with its global AI strategy, including its work bridging emerging AI ecosystems across the United States, Europe and the Middle East.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com