MGX, an Abu Dhabi-based firm, closes a $49 billion fund dedicated to artificial intelligence deals, positioning it among the largest AI investors globally. Bloomberg and the Financial Post report that the fund is one of the biggest of its kind, highlighting MGX’s rapid rise since its launch roughly two years ago. CNBC adds that MGX backs or supports major AI companies, including OpenAI and Anthropic, and also backs Elon Musk’s xAI. CNBC further notes that MGX is involved in efforts that intersect with SpaceX, referencing a merger involving SpaceX. Across the reports, the central point is the completed capital raise for AI-focused investments and MGX’s expanding role in the sector. The sources do not provide additional details in the excerpts on the fund’s structure, timeline for deployments, or the geographic or company-specific allocation plans, but they consistently describe the $49 billion amount and the emphasis on AI dealmaking.