Abu Dhabi’s investment powerhouse MGX is evaluating an ambitious strategy to secure up to $25 billion in external capital as it intensifies its push into artificial intelligence.
According to sources referenced by Bloomberg News, the group is considering tapping both financial and strategic investors, not just from Abu Dhabi but also across global markets.
While these efforts could bring in a diverse array of new backers, Mubadala Investment Co and the renowned AI firm G42 are expected to remain as MGX’s primary supporters. Insiders say discussions remain at a preliminary stage, and there’s no certainty that the fundraising will move forward or reach the prospective amount.
MGX has already made notable moves in the AI domain, holding stakes in advanced technology leaders like OpenAI and Elon Musk’s xAI.
The company is under the guidance of Sheikh Tahnoon bin Zayed Al Nahyan—a key figure in the UAE as both national security adviser and a brother to the UAE President, Sheikh Mohammed bin Zayed.