CNBC
UAE's MGX raises one of the biggest AI funds ever as it closes at $49 billion
Wednesday, July 1, 2026
MGX, an investment arm of the United Arab Emirates, closed a $49 billion fund focused on artificial intelligence. The fund has previously invested in OpenAI, Anthropic, and xAI. MGX is backed by the Abu Dhabi Investment Authority.
Original reporting: https://www.cnbc.com/2026/07/01/mgx-ai-fund-uae-49-billion.html