MGX Eyes AI Fundraise

Abu Dhabi's MGX, established in 2024, is considering raising billions in third-party capital to boost its investments in artificial intelligence. MGX was founded with the goal of managing $100 billion in assets and is backed by Mubadala and AI firm G42. The firm's investment strategy focuses on AI infrastructure, semiconductors, and core AI technologies.

MGX aims to accelerate AI development and adoption through global partnerships. The company intends to invest $8-$10 billion annually in AI, with a focus on the US market. MGX is also a partner in the Global AI Infrastructure Investment Partnership, which plans to raise $30 billion for AI data centres.

MGX's investment in AI aligns with the UAE's broader strategy to become a global technology hub. The company is focused on building a future where technology enables a more prosperous and interconnected world.