Abu Dhabi’s MGX raises $50B to fuel global AI deals
- Source
- Bloomberg
- Time
- 2:30 PM
- Weight
- 94/100
Abu Dhabi-based investment firm MGX has reportedly raised approximately $50 billion to accelerate its investments in artificial intelligence infrastructure and technology. According to sources familiar with the matter, the capital was secured from a diverse group of backers, including regional sovereign wealth funds, global pension funds, and major institutional investors.
The significant capital injection is intended to fuel global AI deals, positioning the firm as a major player in the rapidly expanding sector. This move aligns with broader efforts in the region to diversify economies and establish a leading presence in the international race for artificial intelligence dominance and infrastructure development.