Abu Dhabi tech investor MGX has closed its debut AI fund at $49 billion — $4 billion above its original $45 billion target. With commitments from institutional and private investors across the Middle East, North America, Asia and Europe, the fund ranks among the largest AI-focused funds to date. The capital will be deployed across the AI technology stack, including semiconductors, infrastructure and AI-enabling platforms, building on MGX's existing investments in US AI leaders like Anthropic, OpenAI and xAI.

Why This Matters

MGX plans to invest up to 80% of its total portfolio in US-based projects — and is already executing on that commitment. The firm backed xAI's record-breaking $20 billion Series E in January, the largest private tech funding round at the time, invested in Anthropic's $30 billion Series G in February and its $65 billion Series H in May, and co-led OpenAI's $122 billion raise in March. The $49 billion fund positions MGX to provide the long-term capital needed to scale compute infrastructure and shape next-generation AI, with the US remaining central to its strategy.