Abu Dhabi's MGX closes $49 billion AI fund above target

MGX closed its Fund I astatine $49 cardinal connected Wednesday, exceeding an archetypal people of $45 cardinal and establishing the Abu Dhabi-based steadfast arsenic 1 of the largest dedicated AI investors globally.

Backers spanning the Gulf, North America, Asia, and Europe contributed to the raise, the institution said. Fund I was designed to screen the breadth of the AI exertion stack, with investments spanning semiconductors, AI infrastructure, and AI-enabling technologies and platforms. Since inception, the money has invested successful 14 companies.

Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and National Security Adviser, chairs MGX, which was founded successful 2024 with Abu Dhabi sovereign money Mubadala Investment Company and AI and unreality computing steadfast G42 arsenic its anchor backers. The money had already deployed superior earlier Wednesday's close, according to Bloomberg.

MGX has assembled a wide portfolio of AI-related positions. Among its caller deals, MGX took portion successful Anthropic's $65 cardinal Series H raise, adding to a anterior presumption it had built done the company's Series G round. The steadfast made an concern successful OpenAI during that company's $300 cardinal valuation backing round, and has besides invested successful xAI.

A woody to acquisition Aligned Data Centres, completed successful Oct. 2025 alongside the Artificial Intelligence Infrastructure Partnership and BlackRock's Global Infrastructure Partners, carried a terms tag of astir $40 cardinal and ranked among the astir important backstage equity transactions ever recorded successful integer infrastructure. MGX besides joined Nvidia to assistance make what could go Europe's largest AI campus, to beryllium built adjacent Paris. A much caller connection said the project, which present includes a 2nd field site, could scope 3 gigawatts of compute capableness nationwide. Bpifrance, Mistral AI, and the French nationalist concern slope are partners successful that associated venture.

Reaching a semipermanent extremity of much than $100 cardinal successful assets nether absorption volition necessitate deploying up to $10 cardinal per twelvemonth implicit the coming years, according to the outlet. Unlike accepted Gulf sovereign wealthiness funds that chiefly enactment authorities superior to work, MGX was built to gully successful extracurricular organization investors. That attack gives the steadfast country to instrumentality connected bigger deals and scope a wider excavation of superior partners.