Bloomberg reported on June 23 that the Abu Dhabi-backed investment group secured roughly $50 billion from sovereign wealth funds, pension funds and other institutions for AI infrastructure and dealmaking.
Abu Dhabi investment platform MGX has raised nearly $50 billion, or about $50 billion, to support a broad artificial intelligence push, Bloomberg reported on June 23. According to the report, the capital came from Middle Eastern sovereign wealth funds, global pension funds and large institutional investors, and is intended for spending on computing power, data centers, AI technology investments and AI-related transactions. The fundraising highlights continued investor demand for the infrastructure, facilities and capital pools underpinning the AI boom.