Abu Dhabi-based MGX is weighing plans to raise up to $25 billion from global investors for AI expansion, making it one of the world’s largest AI investment vehicles.
The AI fund aims to back infrastructure, data centers, and major startups, deepening the UAE’s global technology footprint.
MGX is chaired by UAE’s National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan and backed by Mubadala Investment Co. and G42, both with deep government ties.
The move reflects increasing competition from the Middle East and highlights a shifting tide in global technology funding.
In practice, this ramped-up Gulf investment brings several key shifts:
More Funding for Global AI Infrastructure: MGX and its partners are already bankrolling huge projects like the AI Stargate campus in Abu Dhabi, with OpenAI poised as a potential anchor tenant. This project alone could rival the total computing power of many Western tech giants.
Cross-Border Collaboration: Middle Eastern funds are now central to the cap tables of headline AI startups in the United States, Europe, and Asia, driving unprecedented technology diplomacy.
Opportunities for Regional Startups: With MGX targeting global talent and deals, MENA-based startups gain new avenues for scale, infrastructure, and acquisition—making the Gulf a testbed for AI innovation.
Government-Led Tech Vision: The UAE’s digital strategy aims to build the world’s first fully AI-powered government by 2027, and MGX is a key lever in realizing that vision by stacking capital alongside policy innovation.
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