MGX raises nearly USD 50 bn to accelerate its AI investment push

Abu Dhabi AI investor MGX has raised close to USD 50 bn from regional sovereign funds, global pension funds, and other institutional investors to speed up deployment across AI infrastructure and technology, Bloomberg reports, citing sources it says are familiar with the matter. The vehicle closed in recent weeks and has already begun deploying capital, though no details were disclosed on individual investors or commitments.

A different Gulf model: The raise ranks among the largest dedicated AI investment pools assembled to date and marks an unusually large third-party fundraising effort for Abu Dhabi, whose state investors have traditionally deployed government money.

REMEMBER- This is what MGX was built for: The vehicle was launched to operate more like a global alternative asset manager, raising outside capital to invest alongside backing from Mubadala and G42.

Plenty more to spend: MGX is targeting more than USD 100 bn in assets and plans to deploy as much as USD 10 bn annually over the next few years. The new pool gives it room to pursue larger wagers across frontier models, semiconductors, and data centers as the cost of building AI infrastructure climbs.

The portfolio is already stacked: MGX has backed OpenAI, Anthropic, and xAI and invested alongside BlackRock and Microsoft in global AI infrastructure. It is also exploring a multi-bn-USD acquisition of Singapore-based data-center operator DayOne, which would give it an operating footprint across Southeast Asia, Hong Kong, Japan, and Finland.