Abu Dhabi investment firm MGX has raised close to $50 billion from a mix of regional and global investors to speed up its artificial intelligence activities, according to people familiar with the matter. Bloomberg reports the funding round is intended to accelerate spending on AI infrastructure and related technology as MGX pursues more AI deals. The Next Web similarly says MGX secures nearly $50 billion for an AI-focused fund, noting that this is the first time the emirate leans heavily on outside investors for a fund of this scale. Both accounts describe the initiative as part of MGX’s broader positioning for the AI era and indicate that funds are being deployed soon after the raise. Neither source provides detailed terms of the financing, specific investors, or a breakdown of spending categories. The information comes from sources familiar with the transaction rather than from MGX’s public disclosures in the excerpts provided.
Abu Dhabi’s MGX raises about $50 billion to accelerate AI infrastructure and deals
Abu Dhabi investment firm MGX has raised close to $50 billion from a mix of regional and global investors to speed up its artificial intelligence activities, according to people familiar with the matt...
- MGX, an Abu Dhabi investment firm, raises close to $50 billion for an AI-focused effort.
- The funding comes from both regional and global investors.
- The money is intended to accelerate spending on AI infrastructure and technology.
- Both reports describe the fund as being deployed soon after the raise.
- The reported information is based on people familiar with the matter.
Abu Dhabi’s MGX AI fund has raised close to $50bn. For the first time, the emirate leaned on outside investors to do it, and the money is already going out the door. MGX is the Abu Dhabi investment firm built for the AI era. It has pulled in nearly $50bn for a single fund, according […] This story continues at The Next Web
2 months agoAbu Dhabi’s MGX has raised close to $50 billion from regional and global investors to accelerate spending on artificial intelligence infrastructure and technology, according to people familiar with the matter.
2 months ago
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