Dubai-based MGX planning to gather up to $25 billion for an artificial intelligence fund in Abu Dhabi
In a significant move, MGX, an Abu Dhabi-based AI investment fund, has announced plans to raise up to $25 billion to expand its AI and semiconductor investments globally. This ambitious move is expected to attract both financial and strategic investors worldwide, with the ultimate goal of scaling its assets under management towards $100 billion.
Founded in 2024, MGX is a joint initiative between Mubadala Investment Company and Saudi-backed AI firm G42, with key leaders including Sheikh Tahnoon bin Zayed Al Nahyan (chair) and Khaldoon Al Mubarak (vice chairman, CEO of Mubadala). The fund has already made significant investments in global AI projects such as OpenAI, xAI, and BlackRock’s data warehouse plan.
The capital raise will be achieved through a structured fund targeting global financial and strategic investors to back AI infrastructure investment, including data centers and semiconductor ventures. MGX is also reportedly negotiating a $1 billion investment stake in French AI startup Mistral, and is participating in a $3–5 billion funding round for Anthropic, a prominent AI startup.
MGX's strategic positioning is further strengthened by its participation in the $30 billion Global AI Infrastructure Investment Partnership, alongside companies like BlackRock and Microsoft.
Meanwhile, reports suggest that Mistral, a French AI startup, is in talks with MGX and other investors to secure a $1 billion fundraising round at a valuation of $10 billion. However, no final decisions have been made regarding the fundraising plans, and the report has yet to be confirmed. MGX has declined to comment on the report, and its participation in Mistral's fundraising round is not yet confirmed.
In conclusion, MGX's $25 billion capital raise is poised to significantly boost AI and semiconductor investments globally, leveraging high-profile partnerships with firms like Mistral and Anthropic alongside regional government and corporate backing. The details of Mistral's fundraising round are not yet confirmed, but the potential investment would value the French startup at $10 billion.
The capital raise by MGX, a $25 billion undertaking, aims to bolster its investments in AI and semiconductor technology, with the objective of scaling its assets under management towards $100 billion. MGX's strategic positioning in the investments sphere is enhanced by its involvement in high-profile AI projects, such as backing French AI startup Mistral for a potential $1 billion investment, and participation in the Global AI Infrastructure Investment Partnership with other notable entities like BlackRock and Microsoft.
