Abu Dhabi’s technology investment company MGX has closed its first AI investment fund at $49 billion. The final amount is higher than its original target of $45 billion. The milestone makes it one of the largest AI-focused investment funds ever created and highlights the growing role of Gulf investors in the global artificial intelligence industry.
The fund supports companies across the full AI sector. It invests in advanced AI developers, data centers, chip technology, and digital infrastructure. The latest fund closing also shows that global investors continue to place strong confidence in AI as one of the fastest-growing industries.
MGX was launched in March 2024. It was created by Mubadala Investment Company and G42, two major organizations based in Abu Dhabi. The company is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, who also serves as the UAE’s National Security Adviser.
Unlike many traditional sovereign wealth funds, MGX also raises money from outside investors. The company attracted support from institutional investors across the Gulf region, North America, Europe, and Asia. It did not disclose the names of the investors.
Since its launch, MGX has invested in 14 companies. Its portfolio includes several of the world’s biggest AI developers. The company participated in major funding rounds for OpenAI, Anthropic, and xAI during 2026.
MGX co-led OpenAI’s $122 billion funding round in March. It also joined Anthropic’s $30 billion Series G investment in February and later participated in the company’s $65 billion Series H funding round in May. Earlier in the year, MGX invested in xAI during its $20 billion fundraising before the company merged with SpaceX.
Together, these funding rounds were worth more than $237 billion. The investments place MGX among the leading financial backers of advanced AI development.
The company has also invested in other well-known technology businesses. These include SpaceX, Binance, TikTok USDS, Khazna, and Vantage Data Centers. The broad portfolio reflects MGX’s strategy of supporting both AI software and the infrastructure needed to power future growth.
Infrastructure has become one of the company’s biggest priorities. In 2025, MGX joined partners to acquire Aligned Data Centres in a deal valued at about $40 billion. The investment ranks among the largest private digital infrastructure transactions ever completed.
In June 2026, MGX announced plans to help develop a major AI campus near Paris. The project aims to provide up to three gigawatts of computing capacity. It is expected to become one of Europe’s largest AI facilities.
Large AI data centers require enormous amounts of electricity. Industry experts say connecting these facilities to power grids can take between five and seven years. As AI models become larger and more powerful, reliable electricity has become one of the industry’s biggest challenges.
Because sovereign investment funds often plan for decades instead of short-term returns, they can finance large infrastructure projects that may take years before becoming operational. This long-term approach gives funds like MGX an advantage when investing in AI infrastructure.
The global AI investment market has expanded rapidly. Industry data shows AI companies have raised more than $416 billion worldwide during 2026. That figure is already almost twice the amount raised during all of 2025. OpenAI and Anthropic received much of that investment, with MGX playing a key role in several funding rounds.
Despite its rapid growth, MGX has also faced public attention over some investments. Its investment in Binance has drawn questions from some U.S. lawmakers because of the cryptocurrency company’s past legal issues. In addition, G42 previously received scrutiny over earlier business links with Chinese technology companies before changing its partnerships and strengthening ties with U.S. technology firms.
Security experts have also noted that geopolitical tensions could affect future AI infrastructure projects in the Gulf region. Even so, MGX continues to move forward with its expansion plans.
The company has set a long-term goal of managing more than $100 billion in assets. Achieving that target will require continued investment across AI developers, computing infrastructure, and supporting technologies.
With a $49 billion fund now in place, MGX has become one of the world’s largest AI investors. Its growing presence shows how Gulf capital is playing an increasingly important role in shaping the future of artificial intelligence, advanced computing, and global technology infrastructure.
