Abu Dhabi’s MGX has raised around $50 billion for AI investments, making it one of the biggest global funds dedicated to the technology.
The firm raised the money from regional sovereign wealth funds and global investors, Bloomberg reported. The scale of the fund, and the involvement of multiple international partners, illustrates Abu Dhabi’s ambition to use AI to help diversify its economy, and its credibility as an investor.
MGX was launched in 2024 and is chaired by Sheikh Tahnoon bin Zayed, the UAE’s national security adviser. It was initially backed by two other Abu Dhabi funds, Mubadala and G42, and has already invested in funding rounds for OpenAI, xAI, and Anthropic.