① People familiar with the matter said that Abu Dhabi-based artificial intelligence investment company MGX has raised nearly $50 billion to accelerate investments in AI infrastructure and technology.
② The funds came from regional sovereign wealth funds, global pension funds and large institutional investors, making MGX’s new fund one of the largest AI-focused investment vehicles in the world.
June 24 news showed that Abu Dhabi-based artificial intelligence investment company MGX has raised nearly $50 billion from Middle Eastern and global investment institutions to accelerate investments in AI infrastructure and technology.
People familiar with the matter said the nearly $50 billion raised came from regional sovereign wealth funds, global pension funds and large institutional investors. The people added that the fund completed its close in recent weeks and has already begun investing.
By scale, it will become one of the largest AI-focused investment vehicles in global history, and it also marks the first time that Abu Dhabi, long a capital exporter, has used its extensive international network to raise funds externally on such a large scale.
MGX’s latest move highlights Abu Dhabi’s effort to convert its enormous oil wealth into long-term influence over future technologies. As artificial intelligence is expected to reshape the global economy, the United Arab Emirates is rapidly emerging as one of the most important sources of funding for the AI boom, and MGX is at the core of that strategy.
With Abu Dhabi’s substantial financial resources and partnerships with global technology giants, MGX has become one of the most aggressive investors in AI, actively positioning itself in the industry’s most critical strategic assets.
At present, MGX has rapidly built an investment portfolio covering frontier AI models, semiconductor infrastructure and data centers. The company has invested in OpenAI and xAI, and has joined BlackRock and Microsoft in supporting global infrastructure projects.
The new investments will build on the billions of dollars already committed. Earlier reports said MGX aims to expand its assets under management to more than $100 billion and plans to invest as much as $10 billion annually in the coming years.
The fundraising comes at a time of increasingly intense global competition for AI assets, with governments, sovereign wealth funds and private equity institutions all racing to bet on artificial intelligence, which many corporate executives regard as the most important technology cycle of the coming decades.
With abundant capital, low-cost energy and close ties to global technology leaders, Abu Dhabi is seeking to occupy a central position in this ecosystem.
For MGX, bringing in third-party capital will distinguish it from traditional Gulf sovereign wealth funds, which mainly rely on government funding for investments.
MGX was designed from its inception to resemble the model of a global alternative asset management institution, securing capital from Abu Dhabi backers while also raising funds from institutional investors and co-investing alongside them.
This model enables it to undertake larger-scale transactions, broaden its investor base, and further expand toward long-term development objectives.
As the cost of developing frontier artificial intelligence systems continues to rise, this new capital will provide MGX with additional firepower.
At present, training advanced models and building the data centers and semiconductor infrastructure needed to support their operation increasingly require investments in the tens of billions of dollars, which has also prompted investors to continually seek larger pools of capital.
