Abu Dhabi-based investment firm MGX closes “Fund I” with $49 billion, exceeding an initial $45 billion target and positioning the two-year-old company among the largest investors dedicated to artificial intelligence deals. Multiple outlets report that the fund is structured to support investments across the AI technology stack, including areas such as semiconductors and AI infrastructure, with the stated aim of providing curated exposure through a disciplined investment approach.
Several sources also describe MGX’s portfolio and relationships in the AI sector, noting that it backs major AI companies such as OpenAI and Anthropic, and is also associated with Elon Musk’s xAI. CNBC adds that MGX is a backer of major AI firms before a planned merger with SpaceX, without providing further transaction details in the materials provided.
Quartz adds that MGX’s fundraising includes support from investors across regions including the Gulf, North America, Asia, and Europe. Other coverage frames the $49 billion size as one of the biggest dedicated AI funds ever, while focusing on MGX’s emergence as a major global AI investor.
