MGX closes near-$50 billion raise for AI bets—Bloomberg
Sovereign and pension funds back one of the largest AI funds ever assembled
#UAE #investment — Abu Dhabi AI and technology investor MGX has raised close to $50 billion from regional and global investors, Bloomberg reports. According to people familiar with the matter, MGX is raising funds to further spending on AI infrastructure and technology. The capital came from regional sovereign wealth funds alongside global pension funds and large institutional investors, the people said. MGX, chaired by UAE National Security Adviser His Highness Sheikh Tahnoon bin Zayed Al Nahyan, has already backed high-profile AI ventures including US AI company OpenAI and Elon Musk’s AI company xAI.
SO WHAT? — A close-to-$50 billion raise puts MGX among the largest pools of AI-dedicated capital assembled by any single investor globally, sovereign or private. The mix of regional sovereign money and Western pension and institutional capital shows international institutional investors are willing to put large, long-duration capital behind an Abu Dhabi-led AI strategy.
KEY POINTS:
According to a Bloomberg report, Abu Dhabi-based AI and technology sovereign investor MGX has raised close to $50 billion from regional and global investors The news agency quoted people familiar with the matter who asked not to be identified because the information is confidential.
The capital came from regional sovereign wealth funds, plus global pension funds and large institutional investors, to fund expansion of MGX’s AI infrastructure and technology investments.
Bloomberg reported in December 2025 that MGX was exploring a capital raise of up to $50 billion in third-party capital, under its MGX 1 fund prospectus.
MGX has already invested in global AI ventures such as OpenAI and xAI. It also co-founded the AI Infrastructure Partnership (AIP) with BlackRock, Global Infrastructure Partners (GIP), Microsoft to invest in next-generation data centres.
MGX was established in 2024 by Abu Dhabi’s Artificial Intelligence and Advanced Technology Council (AIATC), with Mubadala and G42 as foundational partners.
MGX focuses on three areas of investment: AI infrastructure including data centres and connectivity; semiconductors including chip design and manufacturing ‘and AI core technologies including models, software, data, life sciences and robotics.
ZOOM OUT — MGX was formed in March 2024 by Abu Dhabi’s Artificial Intelligence and Advanced Technology Council, with a target of $100 billion in assets under management. H.H. Sheikh Tahnoon bin Zayed Al Nahyan, UAE’s National Security Adviser and chair of the AIATC, took the chairmanship of MGX, with Mubadala Group CEO Khaldoon Al Mubarak appointed as vice-chair and Mubadala’s Ahmed Yahia Al Idrissi as the company’s first CEO. The launch of MGX was built on years of Abu Dhabi technology investment via its sovereign wealth fund Mubadala.
[Written and edited with the assistance of AI]
Source: Bloomberg, MEAIN
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