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Abu Dhabi sets up MGX to invest in AI infrastructure, chips and models
See how this story connectsAbu Dhabi launched MGX, an AI investment company with sovereign fund Mubadala and AI firm G42 as founding partners, in March 2024. Sheikh Tahnoun bin Zayed Al Nahyan chairs its board, Khaldoon Khalifa Al Mubarak is vice-chair and Ahmed Yahia Al Idrissi is chief executive. It invests in AI infrastructure such as data centres, in semiconductors and in AI models, software and applications; Bloomberg reported people familiar with the plans saying it could pass $100bn in assets within a few years.
Why it matters
The UAE gave itself a state-backed vehicle to buy into data centres, chips and AI companies abroad, and AI firms seeking capital gained a large Gulf investor.
- When
- 11 Mar 2024
- ID
WTA-N-2024-0080- Where
- United Arab Emirates
- Who
- MGX, Mubadala, G42; Tahnoun bin Zayed Al Nahyan
- Rules involved
- National AI Strategy 2031 United Arab Emirates, In force
Summary by wheresthe.ai, from W.Media and the reporting credited above. We could not open the primary document, so it is marked Reported. Checked against the source on 9 Oct 2026.
Source copy: download the page as saved on 18 Oct 2026 (PDF). Also held by the Internet Archive.
Cite this story
WTA-N-2024-0080: “Abu Dhabi sets up MGX to invest in AI infrastructure, chips and models.” wheresthe.ai, 11 Mar 2024. https://wheresthe.ai/d/ae-mgx-ai-investment-company-launch-2024-03/ (source: W.Media: Abu Dhabi announces ambitious plans surrounding AI).
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