Live Roundups Editor's Desk Insights Executive Ops Weather About 🔍
Home › Politics › Abu Dhabi’s MGX Raises $49 Billion for One of the...
Politics

Abu Dhabi’s MGX Raises $49 Billion for One of the Biggest Ever AI Funds

Abu Dhabi’s MGX Raises $49 Billion for One of the Biggest Ever AI Funds
Bloomberg Technology Wednesday 01 July 2026, 06:00 UTC By Dinesh Nair 1 min read
Key Points

Abu Dhabi’s MGX Raises $49 Billion for One of the Biggest Ever AI Funds MGX has raised $49 billion for one of the biggest ever funds dedicated to artificial intelligence deals, propelling the two-year-old Abu Dhabi firm into the ranks of the most consequential investors in the sector globally. The Emirati firm attracted investments from a group of major institutional and private investors from the Middle East, North America, Asia, and Europe, according to a statement on Wednesday. The total...

Abu Dhabi’s MGX Raises $49 Billion for One of the Biggest Ever AI Funds MGX has raised $49 billion for one of the biggest ever funds dedicated to artificial intelligence deals, propelling the two-year-old Abu Dhabi firm into the ranks of the most consequential investors in the sector globally. The Emirati firm attracted investments from a group of major institutional and private investors from the Middle East, North America, Asia, and Europe, according to a statement on Wednesday. The total money raised came in above a target of $45 billion, it said.
Abu Dhabi’s (PERSON) MGX (ORG) Abu Dhabi (LOCATION) Emirati (ORG) the Middle East (LOCATION) North America (LOCATION) Asia (LOCATION) Europe (LOCATION)
Originally published by Bloomberg Technology Read original →

Related Stories

Chris Mason: Starmer's defence plan leaves crunching trade‑offs for Burnham to confront

The BBC's political editor Chris Mason reflects on the fallout from the Defence Investment Plan.

BBC Politics 4m ago

US lifts restrictions on Anthropic's advanced AI models

US lifts restrictions on Anthropic's advanced AI models July 1, 2026The United States has lifted export restrictions on Anthropic's most advanced AI models, the company said late on Tuesday, after Washington suspended access over national security concerns about three weeks ago. "We've received notice that the Department of Commerce has lifted export controls on Claude Fable 5 and Mythos 5," Anthropic posted on X. "Claude Fable 5 will be available again globally tomorrow," the company said....

Deutsche Welle 19m ago

PM Lawrence Wong to meet Timor-Leste leaders on first official visit

PM Lawrence Wong to meet Timor-Leste leaders on first official visit Timor-Leste President Jose Ramos-Horta will present Mr Wong with the country's highest honour in recognition of Singapore's support for its development and ASEAN accession. Prime Minister Lawrence Wong will make his first official visit to Timor-Leste from Thursday (Jul 2) to Friday, marking the first visit by a Singapore prime minister to Southeast Asia's newest ASEAN member. Mr Wong, who is also finance minister, will...

Channel News Asia 21m ago

Why Team Burnham are already furious

Listen on Spotify Apple Music Amazon Music Sky News Team Burnham have been properly triggered over the defence investment plan now they’ve found out £4.7bn of it is still to be funded. For the first time in the transition, they’re feeling furious. Sam Coates and Anne McElvoy have news that the scale of the black hole is even bigger than that.

Politico EU 23m ago