MGX
MGX is the Abu Dhabi AI-infrastructure investment vehicle founded in 2024 by Mubadala and G42, and the UAE's principal platform for AI-infrastructure deployment at global scale.
MGX is the Abu Dhabi AI-infrastructure investment vehicle founded in 2024 by Mubadala and G42 under the Abu Dhabi AI and Advanced Technology Council. MGX raised approximately $50 billion from regional sovereign wealth funds and global institutional investors in a close reported June 23, 2026, one of the largest single capital raises dedicated to artificial intelligence to date, according to Bloomberg and Semafor. The fund is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's National Security Adviser.
At a Glance
| Type | State-affiliated AI-infrastructure investment vehicle |
| Founded | 2024 |
| Headquarters | Abu Dhabi, United Arab Emirates |
| Chairman | Sheikh Tahnoon bin Zayed Al Nahyan |
| Founders | Mubadala Investment Company and G42 |
| Parent oversight | Abu Dhabi AI and Advanced Technology Council |
| 2026 capital raise | ~$50 billion, closed June 2026 (Bloomberg, Semafor) |
| Target total AUM | More than $100 billion, per reported deployment plans |
| Mandate | AI-infrastructure and technology investment at global scale |
Source: Bloomberg and Semafor, June 23, 2026.
How Big Is MGX's 2026 AI Fund?
MGX closed a raise of close to $50 billion from regional and global investors in June 2026, according to people familiar with the matter cited by Bloomberg and confirmed by Semafor's Matthew Martin on June 23, 2026. The capital came from regional sovereign wealth funds alongside global pension funds and large institutional investors. Reports at the time indicated MGX is targeting more than $100 billion in total assets under management, with plans to deploy up to $10 billion annually into AI investments in the years ahead.
Why it works: A capital raise reported independently by both Bloomberg and Semafor, two outlets with separate sourcing on Gulf sovereign finance, is materially more reliable than a single-source claim; both attribute the figure to people familiar with the matter rather than to an MGX press release, which is the standard confirmation pattern for deals Gulf sovereign funds do not always announce themselves.
What Has MGX Invested In?
MGX has built one of the most concentrated AI-model portfolios of any single investor. It has taken part in funding rounds for OpenAI, xAI, and Anthropic, participated in Databricks' $10 billion raise in 2024 at a $62 billion valuation, and joined xAI's $6 billion round valuing the company at $50 billion alongside the Qatar Investment Authority, Valor Equity Partners, Andreessen Horowitz, and Sequoia Capital, according to Crunchbase News. In its first year, MGX also co-led a roughly $30 billion AI-infrastructure partnership alongside Microsoft, BlackRock, Global Infrastructure Partners, and Nvidia, one of the largest single AI-infrastructure investment commitments made to date.
What Is MGX's Connection to Israel?
MGX's engagement with Israel is earlier-stage than the broader exposure of sibling fund Mubadala. MGX is nonetheless the highest-capacity sovereign technology investor in the region with structural reasons to deploy into Israeli capability, since Israeli companies sit in adjacent layers of the AI compute stack: AI-native silicon, AI security, AI infrastructure software, and the cybersecurity layer that defends AI systems. The post-Abraham Accords bilateral framework provides the regulatory architecture within which MGX-Israeli engagement could develop, though direct disclosed MGX-Israeli operating-company positions remain limited.
MGX's Role in Abu Dhabi's Four-Pillar Sovereign Architecture
MGX is the newest of Abu Dhabi's four coordinated sovereign vehicles, alongside the Abu Dhabi Investment Authority (ADIA) (approximately $1.13 trillion, external institutional return), Mubadala (approximately $385 billion, future-industries direct investment, and one of MGX's two founders), and L'IMAD Holding (approximately $300 billion, domestic strategic holding, the January 2026 successor to ADQ). Sheikh Tahnoon bin Zayed chairs both MGX and ADIA, giving him direct authority over the emirate's AI-infrastructure vehicle as well as its largest external-return fund.
Frequently asked questions
How much has MGX raised?
MGX raised approximately $50 billion in a close reported June 23, 2026, according to Bloomberg and Semafor, and is reportedly targeting more than $100 billion in total assets under management.
Who chairs MGX?
MGX is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE's National Security Adviser, who also chairs ADIA, IHC, and G42.
What has MGX invested in?
MGX has invested in OpenAI, xAI, Anthropic, and Databricks, and co-led a roughly $30 billion AI-infrastructure partnership with Microsoft, BlackRock, Global Infrastructure Partners, and Nvidia.
Who founded MGX?
MGX was founded in 2024 by Mubadala Investment Company and G42 under the Abu Dhabi AI and Advanced Technology Council.
Related coverage on Olam
- MGX: The $100 Billion Abu Dhabi AI Fund: Olam's dedicated coverage of MGX's scale and ambitions
- Mubadala: the co-founder of MGX and Abu Dhabi's future-industries sovereign fund
- Mubadala in Israel: The $330B Posture: Olam's coverage of the sibling fund's Israeli exposure
- Abu Dhabi Investment Authority (ADIA): also chaired by Sheikh Tahnoon bin Zayed
- Sovereign and Strategic Capital: Olam's ongoing coverage of sovereign wealth architecture
Entity profile last reviewed: September 2026. Figures reflect Bloomberg and Semafor reporting on MGX's June 2026 capital raise, and Crunchbase News on MGX's investment portfolio.