ABU DHABI'S MGX CLOSES $49B AI MEGA-FUND

The fund ranks among the largest ever dedicated exclusively to AI investments. MGX, founded two years ago, secured commitments from multiple investors to fuel the record-breaking round. The firm's aggressive deployment strategy—up to $10 billion per year—signals confidence in AI market opportunities and positions MGX as a major player in the sector. The deployment timeline extends across several years, providing sustained capital for the AI ecosystem. The raise reflects growing interest from institutional investors and sovereign wealth funds in artificial intelligence infrastructure, applications, and companies. Abu Dhabi's push into AI funding aligns with broader Middle Eastern investment strategies to diversify beyond oil and establish regional tech hubs. MGX joins other major investors backing AI ventures as the sector attracts unprecedented capital flows globally.