Mubadala is committing $170 billion, or roughly 44 per cent of its portfolio, to US interests, with investments across AI, semiconductors, health care, energy and advanced manufacturing, the Abu Dhabi sovereign wealth fund said on Monday.
“That scale is proof of our confidence in the long-term strength of the American economy,” Ahmed Saeed Al Calily, chief strategy and risk officer for Mubadala, said.
Mr Al Calily made the remarks at a business dialogue hosted by the Milken Institute on the sidelines of the Mubadala DC Open. Mubadala became the sole naming sponsor of the annual ATP 500/WTA 500 tennis tournament this year.
“We are proud to strengthen our connection not only with this city, but also with the communities that make Washington such an influential centre of leadership, enterprise and opportunity,” Mr Al Calily said.
Among the participants were Washington Mayor Muriel Bowser, Whoop chief executive Will Ahmed and seven-time grand slam champion Venus Williams.
Other main themes during the business gathering included sport as statecraft, US priorities for maintaining scientific and technological leadership, AI's potential to expand opportunities, the US as a top destination for long-term capital, and public-private co-operation.
Mubadala has more than 80 direct investments in the US, including GlobalFoundries, a semiconductor manufacturer which secured a $300 million award from the Commerce Department last week to develop faster chips.
The sovereign wealth fund also holds investments in the US energy company NextDecade and its Rio Grande LNG project. Adnoc also holds an equity stake in the Brownsville, Texas, liquefied natural gas export facility.
Mubadala's US portfolio also includes projects in infrastructure with Sempra, Transportation Equipment Network and Gulf Coast Express.
Its commitment to the American market comes as the UAE remains committed to its $1.4 trillion investment framework with the US despite the uncertainty of the Iran war.
In a letter to the US-UAE Business Council in March, UAE Ambassador Yousef Al Otaiba said the framework will remain on track with “plans to accelerate deployment and funding”.
The US in July also upgraded the UAE's export control designation to make it easier to export and transfer US military equipment, satellites, spacecraft, AI and energy technology. The Commerce Department said at the time that the decision was made in recognition of the UAE's status as a major defence partner and for its support in advancing US national security interests.
