G42, the artificial intelligence company headquartered in Abu Dhabi, has reportedly held preliminary conversations with potential investors about securing billions of dollars in fresh funding, according to sources familiar with the matter.

The firm may look to open up external financing avenues, mirroring a strategy adopted by other state-linked entities in the United Arab Emirates. Existing backers of G42 include Mubadala Investment Company, US private equity firm Silver Lake, and tech giant Microsoft.

The discussions are still at an early stage, with the structure and scale of any potential fundraising yet to be finalized, the sources said, asking not to be identified because the information is confidential. A representative for G42 declined to comment on the speculation, stating that the company remains focused on its long-term growth strategy.