MGX (company)
| Company type | Private |
|---|---|
| Industry | |
| Founded | 2024 |
| Founder | Abu Dhabi Government |
| Headquarters | Abu Dhabi, United Arab Emirates |
Key people |
|
| Products | Artificial intelligence, technology funds |
| Website | mgx |
MGX Fund Management Limited (MGX) is an Emirati investment firm specializing in artificial intelligence (AI) technologies. Launched by the Abu Dhabi government in 2024, MGX aims to become a vehicle for AI-driven investments with a target of managing US$100 billion in assets.[1][2][3]
History
[edit]MGX was established in 2024 by the government of Abu Dhabi to channel investments into AI-driven technologies and startups and to foster innovation and drive economic growth within the region.[1] MGX was launched in March by two entities: global investment company Mubadala and an artificial intelligence firm G42. MGX's board chair is Sheikh Tahnoun bin Zayed Al Nahyan and Khaldoon Al Mubarak is the vice chair.[3][4] In September 2024, MGX, BlackRock, and Microsoft announced the Global AI Infrastructure Investment Partnership, an AI investment fund that will focus on data centers and their power infrastructure.[5] In January 2025, MGX partnered with OpenAI and Oracle on The Stargate project.[6]
Operations
[edit]MGX operates primarily within the global AI technology sector, focusing on identifying and investing in high-potential AI startups and established companies[2][3] and has AI ventures across North America, Europe, Asia, and the Middle East.[3][7]
References
[edit]- ^ a b "Abu Dhabi Launches Artificial Intelligence Tech Investment Vehicle MGX". Chief Investment Officer. 2024-03-13. Retrieved 2025-01-22.
- ^ a b "What to know about MGX, UAE's latest AI investment firm - AL-Monitor: The Middle Eastʼs leading independent news source since 2012". www.al-monitor.com. Retrieved 2025-01-22.
- ^ a b c d Bartenstein, Ben (2024-03-11). "Abu Dhabi Targets $100 Billion AUM for AI Investment Firm". Bloomberg.com. Retrieved 2025-01-22.
- ^ "Report: UAE State-Backed Investment Company MGX Considers Investment in OpenAI". PYMNTS.com. 2024-09-13. Retrieved 2025-01-22.
- ^ "BlackRock, Microsoft Partner on Massive New AI Infrastructure Fund". The Wall Street Journal. 2024-09-17. Retrieved 2025-01-22.
- ^ "U.S.-UAE Deepen Tech Cooperation with $500 Billion AI Deal - Daily Euro Times". 2025-01-23. Retrieved 2025-01-23.
- ^ "Abu Dhabi Said to Target $100 Billion AUM for AI Investment Firm". Bloomberg. Retrieved 2025-01-22.