Abu Dhabi’s MGX Closes $49 Billion AI Fund, One of the World’s Largest
Abu Dhabi-based technology investment firm MGX has closed a $49 billion artificial intelligence fund, surpassing its original $45 billion target. As a result, MGX Fund I has become one of the largest dedicated AI investment funds ever created. The fund attracted institutional and private investors from the Gulf, North America, Asia, and Europe.
Founded in early 2024 with support from Mubadala Investment Company and G42, MGX has rapidly expanded its presence in the AI investment sector. Earlier this year, the firm co-led OpenAI’s record $122 billion funding round, which closed in late March at an $852 billion valuation. Additionally, it co-led Anthropic’s $30 billion Series G funding round in February at a $380 billion valuation. MGX also participated in Anthropic’s $65 billion Series H funding round, which closed on May 28 at a $965 billion valuation.
Fund Targets AI Infrastructure and Growth
MGX Fund I focuses on investments in AI models, semiconductors, and data centers. Moreover, reports in February indicated that the firm planned to invest up to $10 billion annually in AI over the coming years.
The fund’s final size of $49 billion significantly exceeded earlier expectations. Previously, reports in August 2025 suggested MGX aimed to raise up to $25 billion in third-party capital. Later, on June 9, 2026, the fund filed a U.S. SEC 3(c)(7) exemption. Consequently, participation became limited to qualified purchasers with at least $25 million in investable assets, while the minimum investment commitment was set at $500 million.
Abu Dhabi Strengthens Global AI Position
The fund’s completion comes as global competition for AI investments continues to intensify. Because MGX holds stakes in both OpenAI and Anthropic, it now occupies a position shared by very few investors. Furthermore, the new fund supports Abu Dhabi’s broader goal of becoming a leading AI hub. It also strengthens the emirate’s access to advanced computing infrastructure, skilled talent, and critical supply chains that are expected to shape the next stage of artificial intelligence development.
