MGX, a two‑year‑old investment vehicle backed by Abu Dhabi’s sovereign wealth empire, announced the closing of a nearly $50 billion artificial‑intelligence fund. The capital came from a mix of regional sovereign wealth funds, global pension plans and other large institutional investors, making the pool one of the biggest ever raised for AI‑only investments.
Unlike the emirate’s historic practice of exporting capital, MGX turned the script upside down. Rather than writing cheques from state coffers, it tapped its network to attract outside money, positioning itself more like a global asset manager than a traditional Gulf sovereign fund. The firm now invests alongside its Abu Dhabi backers, expanding its reach beyond the region.
Broad‑Based AI bets
MGX’s portfolio stretches across the entire AI stack. It holds equity stakes in leading frontier‑model developers such as OpenAI, Anthropic and Elon Musk’s xAI. At the same time, the firm backs the hardware and infrastructure that power those models, partnering with BlackRock, Microsoft and Nvidia on a $30 billion vehicle dedicated to data‑center construction and AI‑compute capacity.
Semiconductor infrastructure, too, figures prominently in MGX’s strategy. By financing chip‑makers and related supply‑chain projects, the fund seeks to lock in the hardware needed for the next generation of large‑scale models, whose training costs have already topped $30 billion at companies like OpenAI.
Asian expansion on the horizon
Executives told Reuters the fund is eyeing a multi‑billion‑dollar acquisition of DayOne, a Singapore‑based data‑center operator with facilities across Southeast Asia, Hong Kong, Japan and Finland. The deal would mark MGX’s first foothold on the continent. DayOne has also been courting a U.S. listing valued at roughly $20 billion, though MGX may push back on that price.
Beyond acquisitions, MGX has set an ambitious target of more than $100 billion in assets under management. To reach that milestone, the firm plans to spend up to $10 billion a year over the next several years, on top of the billions already committed. Pulling in third‑party capital widens its investor base and enables deals that state money alone could not support.
The scale of MGX’s fund reflects the soaring costs of frontier AI. Training state‑of‑the‑art models, building the chips that run them and constructing the data‑center real estate required for inference now run into tens of billions of dollars. Abu Dhabi’s cheap energy and close ties to tech giants give MGX a strategic advantage in this capital‑intensive race.
While the fund signals a strong vote of confidence from patient investors, skeptics warn that valuations in the AI sector have outpaced revenue growth. A setback at a major model developer could ripple through the entire supply chain. Nonetheless, MGX’s chairman, Sheikh Tahnoon bin Zayed Al Nahyan—also the UAE’s national security adviser and brother of the president—remains bullish, emphasizing the long‑term potential of AI as the defining technology of the decade.
Cet article a été rédigé avec l'assistance de l'IA.
News Factory APP - actualités agentiques pour booster votre SEO et AEO.