Abu Dhabi-based AI investment firm MGX has completed the final close of its flagship MGX Fund I at US$49 billion in commitments, backed by institutional and private investors from the Gulf, North America, Europe, and Asia.

MGX has completed the final close of its flagship Fund I with US$49 billion in total commitments, exceeding its original target fund size of US$45 billion. The fund secured backing from a distinguished and diverse group of institutional and private investors across the Gulf, North America, Asia, and Europe. Since its launch, MGX Fund I has invested in 14 companies, partnering with leading global technology firms and AI platforms to advance innovation across the artificial intelligence ecosystem.

MGX is a private investment firm dedicated to advancing artificial intelligence and other cutting-edge technologies through strategic investments worldwide. Its flagship Fund I was established to offer investors targeted exposure to the AI sector by investing in carefully selected, high-conviction opportunities across the AI value chain, including semiconductors, AI infrastructure, and AI-driven technologies and platforms. The firm continues to pursue high-quality investment opportunities, partnering closely with innovative businesses to drive sustainable growth and create long-term value.