Abu Dhabi's MGX Raises $49 Billion for AI Investment Fund
Abu Dhabi-based MGX raised $49 billion for its inaugural fund, exceeding its $45 billion target and positioning it among the largest dedicated exclusively to artificial intelligence. The vehicle will deploy up to $10 billion annually over the coming years, according to Bloomberg.
MGX closed Fund I after committing capital to 14 companies across the AI technology stack. The capital commitment draws from institutional and private investors across the Gulf region, North America, Asia, and Europe, as the sovereign wealth-linked firm consolidates its position in AI infrastructure and model development.
From the sources (4 posts)
@mgx_aiMGX is pleased to announce the final close of MGX Fund I at $49 billion in total commitments, exceeding its initial $45 billion target. With the backing of leading institutional and private investors from across the Gulf, North America, As
@businessAbu Dhabi's MGX raises $49 billion for one of the biggest ever funds dedicated to AI deals
@techmemeAbu Dhabi-based MGX raised a $49B AI-focused fund, exceeding its $45B target, and plans to spend as much as $10B annually over the next few years (@dnair5 / Bloomberg) (Visit Techmeme dot com for the link and full context!)
@thenationalnewsAbu Dhabi's AI investment firm MGX raises $49bn for new fund