Abu Dhabi’s AI fund MGX plans to invest USD 8-10 bn a year in AI infrastructure and companies, Semafor cites Chief Investment Officer Ali Osman as saying at its World Economic Summit. MGX will invest USD 1-2 bn per transaction, with a focus on the US, Osman said.

Uh, how deep are MGX’s pockets? Although MGX has not publicly disclosed its total fund size, estimates put it at around USD 100 bn, Semafor reports.

Pushing ahead despite uncertainty: Weighing up the AI sector’s potential against short-term economic uncertainty, Osman said, “[W]hether you're bullish or bearish in the space, you're still looking at capital formation to the tune of [tns of USD],” adding that MGX is “deploying capital in order to support that build-out growth.”

REMEMBER- MGX is also part of the AI Infrastructure Partnership, a platform it co-founded alongside Blackrock and Microsoft, which now also includes NVIDIA and Elon Musk’s xAI. The group is looking to raise USD 30 bn from investors and deploy up to USD 100 bn, including from debt, into AI data centers and related infrastructure systems.

MGX has invested at least USD 2 bn so far this year in Binance, while also picking up a stake in data center operator Khazna. It is also set to provide initial investments for a planned USD 30-50 bn data center and AI campus in France

It’s a long-term strategy: MGX is taking a five- to 10-year view on its investments, despite uncertainty. “We remain optimistic that the technology will revolutionize the way we create value in the economy,” Osman said.

Demand for AI infrastructure is heating up: MGX is putting its money where it sees sustained global demand, with Osman predicting that global data center capacity — currently around 60 GW — will need to rise to 200-300 GW over the next five years.

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