Abu Dhabi-based MGX investment company has raised $50 billion from regional and global investors in a new AI fund for the development of digital infrastructure and AI technologies. This is reported by foreign media.
MGX has invested funds from a new fund, which is considered one of the largest investment funds in the field of AI, in the development of advanced technologies to strengthen Abu Dhabi's position in the AI sector.
MGX, controlled by Mubadala Investment Co. and G42, has become one of the most aggressive AI investors through partnerships with IT companies and has rapidly expanded its portfolio of assets in the AI, semiconductor infrastructure, and data center sectors.
In particular, MGX has invested in funding rounds for the world's largest AI companies, including $6.6 billion in OpenAI, and acquired significant stakes in Anthropic and xAI. In addition, MGX supported global infrastructure projects jointly with BlackRock Inc. and Microsoft Corp. and she participated in a deal to acquire data centers worth $40 billion.
MGX plans to spend up to $10 billion annually over several years to achieve its asset investment target of over $100 billion. MGX is considering a billion-dollar deal to acquire data center operator DayOne in Southeast Asia.
The attraction of third-party capital distinguishes MGX from traditional Middle Eastern sovereign funds, which mainly use public funds.
MGX is a state—owned IT company established in 2024 with the support of one of the largest sovereign wealth funds, Mubadala, to develop AI and the digital economy (including data centers, connectivity systems, semiconductors, AI technologies, biotechnology and robotics). The headquarters is located in Abu Dhabi (UAE).
