Abu Dhabi's MGX has raised close to $50 billion to accelerate its spending on artificial intelligence infrastructure and technology. The new capital, sourced from regional sovereign wealth funds as well as global pension funds and large institutional investors, positions the firm to make significant deals in the competitive AI sector.
MGX fundraising round
- ▪Abu Dhabi’s MGX has raised close to $50 billion from regional and global investors
- ▪The funds are intended to accelerate spending on artificial intelligence infrastructure and technology
Investor composition
- ▪Global pension funds and large institutional investors also contributed capital to MGX's fundraising
- ▪MGX raised capital from regional sovereign wealth funds
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