MGX Plans Multi-Billion AI Fund to Boost Tech Investments

MGX, an investment firm based in Abu Dhabi, is reportedly considering a significant fundraising initiative to amass billions of dollars in third-party capital. The primary objective of this endeavor is to substantially increase its investments in artificial intelligence, a field experiencing rapid global growth and strategic importance. This development comes as Abu Dhabi continues to position itself as a key player in the global technology landscape.

Individuals familiar with the ongoing discussions, who requested anonymity as the information remains private, indicate that MGX plans to structure these investments through a dedicated fund. This new fund would specifically target AI infrastructure, encompassing crucial components such as advanced data centers, specialized computing hardware, and high-performance networking solutions. Such foundational investments are deemed essential for powering the next generation of AI development and deployment, from large language models to complex autonomous systems.

According to one of these sources, the proposed fund could potentially raise an impressive sum of up to $25 billion. If successful in reaching this target, this investment vehicle would stand as one of the largest of its kind globally. Such a substantial capital commitment would not only elevate MGX’s profile but also underscore Abu Dhabi’s formidable financial commitment and strategic intent to become a leading force in the global artificial intelligence sector.