Abu Dhabi-based MGX has raised $49 billion, surpassing its $45 billion target, positioning itself as a major global player in artificial intelligence investments.

Abu Dhabi's MGX has raised $49 billion for an AI-focused investment fund targeting $100 billion in AUM, with ties to Binance, BlackRock, and the Stargate

The company is a backer of major AI companies including OpenAI and Anthropic, alongside Elon Musk's xAI, prior to its merger with SpaceX.