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MGX Fund Management Limited
Emirati AI investment company From Wikipedia, the free encyclopedia
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MGX Fund Management Limited (MGX) is an Emirati state-owned investment firm for artificial intelligence (AI) technologies. Established by the government of Abu Dhabi in 2024, MGX aims to become a vehicle for AI-driven investments with a target of managing US$100 billion in assets.[1][2][3]
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History
MGX was established in 2024 by the government of Abu Dhabi to channel investments into AI-driven technologies and startups and to foster innovation and drive economic growth within the region.[1] MGX was launched in March by two entities: global investment company Mubadala and an artificial intelligence firm G42. MGX's board chair is Sheikh Tahnoun bin Zayed Al Nahyan and Khaldoon Al Mubarak is the vice chair.[3][4] In September 2024, MGX, BlackRock, and Microsoft announced the Global AI Infrastructure Investment Partnership, an AI investment fund that will focus on data centers and their power infrastructure.[5]
In January 2025, MGX partnered with OpenAI and Oracle on the Stargate Project.[6] In March 2025, MGX made a minority investment in Binance, using World Liberty Financial's Stablecoin for the $2 billion investment.[7] The transaction was announced by the Trump family, with The New York Times calling the announcement "a public and vivid illustration of the ethical conflicts swirling around Mr. Trump’s crypto firm."[8]
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Operations
MGX operates primarily within the global AI technology sector, focusing on identifying and investing in high-potential AI startups and established companies[2][3] and has AI ventures across North America, Europe, Asia, and the Middle East.[3][9]
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External links
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