Abu Dhabi's MGX could raise up to $25 billion for AI fund, Bloomberg News says

Abu Dhabi's MGX could raise up to $25 billion for AI fund, Bloomberg News says

Abu Dhabi-based MGX is considering plans to raise as much as $25 billion in third-party capital as the investment group looks to ramp up its artificial intelligence holdings, Bloomberg News reported on Tuesday, citing people familiar with the matter.MGX declined to comment on the report and Reuters could not

MGX to raise $25bn for AI push

UAE technology investment company MGX is reportedly planning to raise $25 billion to accelerate its push into AI. The capital will be raised through a fund structure, with backing expected from financial and strategic investors in Abu Dhabi and beyond, Bloomberg reported, quoting informed sources. UAE’s Mubadala Investment Co and AI business G42 will remain MGX’s founding partners. G42 is backed by the UAE government, as well as private partners…

MGX eyes $25b capital raise to expand AI investments

Abu Dhabi’s investment powerhouse MGX is evaluating an ambitious strategy to secure up to $25 billion in external capital as it intensifies its push into artificial intelligence. According to sources referenced by Bloomberg News, the group is considering tapping both financial and strategic investors, not just from Abu Dhabi but also across global markets. While these efforts could bring in a diverse array of new backers, Mubadala Investment Co …