On 1 July 2026 MGX, the Abu Dhabi AI investment company, closed its first fund at USD 49bn, above its USD 45bn target.
What was announced
- The fund invests in semiconductors, AI infrastructure and AI platforms.
- MGX is backed by Mubadala and G42, and chaired by Sheikh Tahnoon bin Zayed.
- It has backed 14 portfolio companies since it started.
Our take
Gulf investors are now among the larger backers of global AI. That gives the region a say in which platforms grow, and makes it a more natural place to build AI companies.