Abu Dhabi-based artificial intelligence investment firm MGX has closed its inaugural MGX Fund I at AED 179 billion, drawing capital from a broad consortium of institutional and private investors spanning the Gulf, North America, Asia and Europe.
The fund has deployed into 14 companies across the AI technology stack – including semiconductors, infrastructure, and enabling platforms – building a concentrated portfolio that encompasses some of the world's most consequential AI and technology names, among them OpenAI, SpaceX, Anthropic, Binance, TikTok and Vantage Data Centers.
Chaired by Sheikh Tahnoon bin Zayed Al Nahyan and with Khaldoon Al Mubarak serving as vice-chairman, MGX positions itself as a disciplined allocator to differentiated and capacity-constrained opportunities in AI. The close reinforces Abu Dhabi's ambition to become a global node in the AI investment ecosystem, with the firm also recently announcing a planned expansion of France's Campus AI in partnership with Bpifrance and Mistral, targeting up to 3 gigawatts of compute capacity.
Gulf Economist Staff Writer