Abu Dhabi-based technology investment company MGX has raised $49 billion from global investors for its AI-focused fund, boosting the firm's growing role in the sector.
The amount raised by MGX Fund I was significantly above its initial $45 billion target fund size, the company said on Wednesday.
It attracted investment from an “elite and diverse group of major institutional and private investors from the Gulf, North America, Asia and Europe”, MGX said.
The firm said it launched Fund I to provide AI exposure through investment in opportunities across the sector. That includes semiconductors, AI infrastructure and AI-enabling technologies and platforms. Since inception, the fund has invested in 14 companies.
Established in 2024, MGX is a private investment firm with Abu Dhabi's sovereign fund Mubadala Investment Company and AI and cloud computing firm G42 as partners. It is chaired by Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser.
The company has been investing heavily in AI globally. Last month, it touted its participation in US-based AI giant Anthropic's $65 billion Series H funding round. MGX also participated in Anthropic's earlier Series G funding round.
In October 2025, MGX joined the Artificial Intelligence Infrastructure Partnership and Blackrock's Global Infrastructure Partners consortium in a deal to acquire Aligned Data Centres, a major provider of AI infrastructure. The transaction was valued at about $40 billion, one of the largest private equity digital infrastructure deals on record.
The acquisition is expected to boost global AI infrastructure capacity significantly.
Last year, MGX and Nvidia also announced plans to help build the largest AI campus in Europe alongside French companies. The campus, which is to be built near Paris, was initially expected to reach a capacity of 1.4 gigawatts.
However, last month a new statement said it might eventually offer “3GW of compute capacity nationwide”. It said a second AI campus site “doubles the initial investment by the consortium and its partners, and is the natural next step in the development of a leading pan-European network of AI factories, extending the programme beyond the flagship Fouju campus in Seine-et-Marne”.
Bpifrance, Mistral AI and the French national investment bank are joining MGX and Nvidia in the joint venture.
Last year, MGX also made a major investment in OpenAI during the AI company’s $300 billion valuation funding round. The Abu Dhabi company also revealed an investment of $2 billion in Binance last year, marking the first institutional investment in the world’s largest cryptocurrency exchange.
In January, it was announced that MGX would hold a stake in the TikTok-USDS joint venture, which helped to keep the social media platform operating in America.
