Abu Dhabi's MGX Raises Nearly $50 Billion for AI Infrastructure
Updated
Updated · Bloomberg · Jun 23
Abu Dhabi's MGX Raises Nearly $50 Billion for AI Infrastructure
3 articles · Updated · Bloomberg · Jun 23
Summary
Nearly $50 billion has been raised by Abu Dhabi’s MGX to speed investment in artificial intelligence infrastructure and technology, according to people familiar with the matter.
Regional sovereign wealth funds supplied part of the capital, alongside global pension funds and other large institutional investors.
The fundraising gives MGX a much larger pool of capital to pursue AI-related deals as Gulf investors deepen bets on computing infrastructure and advanced technology.