Abu Dhabi investor Alpha Dhabi Holding has committed $1 billion to Alpha Wave III, a global AI-focused investment fund managed by Alpha Wave Global. The announcement builds on Alpha Dhabi's earlier backing of Alpha Wave Ventures II, which invested in leading US technology firms including SpaceX, OpenAI and Anthropic. Headquartered in New York, Alpha Wave Global is majority owned by UAE sovereign investor Judan Financial.

Why This Matters

UAE investors are scaling their US footprint across the AI ecosystem — from the frontier firms developing new AI applications to the physical infrastructure powering them. Alpha Dhabi's $1 billion Alpha Wave III commitment continues that strategy, deploying long-term capital at scale, strengthening the US AI ecosystem and positioning the UAE as one of America's most consequential partners in maintaining global AI leadership.

“Our USD 1 billion commitment to Alpha Wave III builds on our participation in Alpha Wave Ventures II and broadens Alpha Dhabi’s access to artificial intelligence and innovation-led opportunities.” — Eng. Hamad Al Ameri, Managing Director and Group Chief Executive Officer of Alpha Dhabi Holding

Full Press Release: Alpha Dhabi to invest USD 1 billion in Alpha Wave III

• Signed agreement builds on Alpha Dhabi’s participation in Alpha Wave Ventures II
• Commitment expands access to artificial intelligence opportunities and supports long-term portfolio diversification

Abu Dhabi, UAE; 26 October 2026: Alpha Dhabi Holding PJSC (“Alpha Dhabi” or “the Group”) (ADX: ALPHADHABI), an Abu Dhabi-based investment holding company, today announced that it has signed an agreement to commit USD 1 billion (approximately AED 3.67 billion) to Alpha Wave III, a global investment fund managed by Alpha Wave Global. The commitment advances Alpha Dhabi’s strategy by providing diversified exposure to artificial intelligence companies through the fund and remains subject to any applicable approvals.

The commitment follows Alpha Dhabi’s participation in Alpha Wave Ventures II, through which the Group obtained indirect exposure to companies including SpaceX, OpenAI and Anthropic. This continued access to innovation-led sectors supports Alpha Dhabi’s portfolio diversification strategy.

Alpha Wave III is expected to invest globally in artificial intelligence and high-growth businesses developing and applying transformative technologies. The commitment provides access to structural growth themes through a specialist investment platform focused on long-term value creation. For investors, the commitment is intended to enhance portfolio diversification and support attractive long-term risk-adjusted returns.

Alpha Dhabi’s capital will be deployed over time in line with capital calls and the fund’s investment programme. Alpha Wave’s returns will depend on the performance and valuation of the underlying investments, with value expected to be realised through distributions and exits over the life of the fund.

Eng. Hamad Al Ameri, Managing Director and Group Chief Executive Officer of Alpha Dhabi Holding, said: “Our USD 1 billion commitment to Alpha Wave III builds on our participation in Alpha Wave Ventures II and broadens Alpha Dhabi’s access to artificial intelligence and innovation-led opportunities. This investment supports our portfolio diversification objectives and our focus on long-term value creation. It also reflects our disciplined approach to allocating capital to opportunities that can create enduring value for our shareholders.”

Alpha Dhabi intends to fund the investment from recycling of its cash distributions from Alpha Wave Ventures II and existing resources. The financial impact will be recognised over time, reflecting the timing of capital deployment and the performance of the fund’s underlying investments. Alpha Dhabi will make further disclosures as required under applicable laws and ADX rules.