MGX

On March 12, 2024, the Artificial Intelligence and Advanced Technology Council (AIATC), established on January 22 of that year by UAE President Sheikh Mohamed bin Zayed Al Nahyan, announced the creation of the technology investment company MGX, with Mubadala and G42 as foundational partners. MGX’s investment strategy focuses on three areas: AI infrastructure (including data centers and connectivity); semiconductors (including logic and memory chip design and manufacturing); and AI core technologies and applications (including models, software, data, life sciences, and robotics). By estimates at the time, its assets could surpass $100 billion within a few years.⁠[1][1][1][1][2]

Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and chair of the AIATC, became chairman, calling MGX a “UAE national champion” focused on AI and advanced technologies; Khaldoon Khalifa Al Mubarak became vice chair, and the other directors were Jassem Mohamed Bu Ataba Al Zaabi, Peng Xiao, and Ahmed Yahia Al Idrissi, with Al Idrissi, then CEO of Mubadala’s Direct Investments platform, becoming chief executive.⁠[1][1][1][1]

On Monday, May 27, 2024, Sheikh Tahnoon chaired MGX’s inaugural board meeting, at which the board approved a number of governance and financial matters; at the second board meeting on September 2 of that year, Martin Edelman attended as a director.⁠[3][3][3][4][4]

BlackRock, Global Infrastructure Partners (GIP), Microsoft, and MGX announced the Global AI Infrastructure Investment Partnership (GAIIP) to invest in new and expanded data centers and supporting energy infrastructure, chiefly in the United States with the remainder in U.S. partner countries; the partnership would initially seek to mobilize $30 billion of private equity capital, rising to up to $100 billion in total investment potential including debt financing, with NVIDIA providing technical support. Sheikh Tahnoon, as MGX chairman, said AI “is not just an industry of the future, it underpins the future.”⁠[5][5][5][5][5]

Binance and MGX announced that MGX would invest $2 billion in Binance for a minority stake, paid in stablecoin; the companies called it Binance’s first institutional investment, the largest single investment in a crypto company, and the largest investment ever paid in crypto, and it was MGX’s first entry into cryptocurrency and blockchain. MGX CEO Ahmed Yahia said accelerating institutional adoption requires secure, compliant, and scalable blockchain infrastructure; Binance CEO Richard Teng called it a significant milestone for the crypto industry and for Binance, emphasizing compliance, security, and user protection. The announcement also noted that Teng had previously served as CEO of the Abu Dhabi Financial Services Authority.⁠[6][6][6][6][6][6][6][6]

NVIDIA and xAI joined the partnership, which was renamed the AI Infrastructure Partnership (AIP); NVIDIA continued as a technical advisor, and GE Vernova and NextEra Energy agreed to collaborate on energy solutions for data centers.⁠[7][7][7]

In early May 2025, World Liberty FinancialWorld Liberty FinancialWorld Liberty Financial is a crypto finance venture launched in September 2024, co-founded by members of the families of US President Donald Trump and Steve Witkoff, among others; it issues the governance token WLFI and offers the US dollar stablecoin USD1 as its main product. Over the Trump family’s large income from token sales, foreign investors taking stakes, and regulatory approvals, it has faced ongoing conflict-of-interest questions from members of the US Congress and ethics watchdogs; the company and the White House have denied any wrongdoing.Open the full entry, a crypto company tied to the Trump family, told CBS News that MGX would buy $2 billion of World Liberty’s USD1 stablecoin and use it to complete the investment in Binance, calling it the “single largest-ever investment in a crypto company”; details of the deal were not released, and World Liberty did not respond to questions about how much the Trump family stood to make.⁠[8][8][8][8][8]

MGX’s first board meeting of 2025 welcomed its investments in large language model companies including OpenAI, Anthropic, and xAI, and approved its 2025 priorities of investing in semiconductors, leading technology platforms, and AI-native applications; MGX also launched Ain, a proprietary, voice-enabled AI board observer that provides real-time analysis to support board investment decisions and risk assessments.⁠[9][9][9][9]

At the Choose France Summit in Versailles, the French public investment bank Bpifrance, MGX, Mistral AI, and NVIDIA announced a joint venture to build Europe’s largest AI campus in the Paris region, expected ultimately to reach a capacity of 1.4 GW.⁠[10][10]

Democratic Senator Chris Murphy said the Trump and Witkoff families were “making money off their government positions,” called the administration’s subsequent announcement that it would relax restrictions on semiconductor exports to the UAE a “quid pro quo” for Abu Dhabi’s investment in the Trump-Witkoff crypto venture, and warned that the chips could reach China; Richard Painter, the top White House ethics official under George W. Bush, said that if Witkoff held an interest in World Liberty while a UAE-controlled fund invested in it, that would likely violate the Constitution’s emoluments clause. Deputy White House press secretary Anna Kelly responded that “there are no conflicts of interest,” adding that Witkoff was divesting all of his assets, including World Liberty, and had no operational role in the company.⁠[11][11][11][11][11][11]

The Kuwait Investment Authority (KIA) joined AIP as its first non-founder financial anchor investor; by then AIP had added NVIDIA, xAI, and Cisco as technology partners.⁠[12][12][12]

As a co-investor, MGX joined Silver Lake in acquiring a 51% stake in Intel’s programmable-chip company Altera, with Intel retaining 49%, in a deal valuing Altera at $8.7 billion. The same month the board approved a further large investment in OpenAI’s latest funding round at a $300 billion valuation and noted that MGX had co-led Databricks’ Series K round.⁠[13][14][14][14]

A consortium of AIP, MGX, and BlackRock’s GIP announced it would acquire 100% of the equity of Aligned Data Centers from funds managed by Macquarie Asset Management, implying an enterprise value of about $40 billion; Aligned has 50 campuses and more than 5 gigawatts of operational and planned capacity, mainly in the United States and Latin America.⁠[15][15][15]

MGX’s final board meeting of 2025 disclosed that in the UAE it is supporting the build-out of Stargate UAE through its investment in Khazna, and in the United States, through further investments in Vantage Data Centers, it is supporting the Stargate build-out of 2.3 gigawatts in Texas and Wisconsin; the meeting also noted deepening partnerships with OpenAI, xAI, and Databricks.⁠[16][16][16]

Under an executive order signed by President Trump on September 25, 2025, TikTok USDS Joint Venture LLC was established to protect U.S. user data, apps, and the recommendation algorithm; Silver Lake, Oracle, and MGX are its three managing investors, each holding 15%, and MGX Chief Strategy and Safety Officer David Scott became a director and joined the security committee.⁠[17][17][17]

In January 2026, MGX took part in xAI’s $20 billion Series E; in February it co-led Anthropic’s $30 billion Series G at a $380 billion post-money valuation. The February 27 board meeting also noted xAI’s subsequent merger with SpaceX and MGX’s participation in OpenAI’s latest employee secondary sale, its fourth follow-on investment in OpenAI.⁠[18][18][19][19]

MGX co-led OpenAI’s latest funding round of $122 billion, its fifth follow-on investment in OpenAI, and also took part in Isomorphic Labs’ $2.1 billion Series B, its first investment in AI-enabled drug discovery. The board projected that contracted compute capacity at MGX portfolio companies would exceed 8 gigawatts by the end of 2026. On May 31, MGX also took part in Anthropic’s $65 billion Series H.⁠[20][20][20][18]

Bpifrance, Mistral, and MGX announced the expansion of Campus AI across France with a goal of up to 3 GW of compute capacity, with a second site soon to be selected, building a pan-European network of AI factories beyond the flagship campus at Fouju in Seine-et-Marne.⁠[21][21]

MGX announced the final close of its first fund, MGX Fund I, at $49 billion in total commitments, above its initial $45 billion target, from investors in the Gulf, North America, Asia, and Europe; the fund had invested in 14 companies since inception.⁠[22][22][22]

AIP, MGX, and GIP completed their acquisition of 100% of the equity of Aligned Data Centers at an enterprise value of about $40 billion, one of the largest private investments in digital infrastructure to date.⁠[23][23]

Databricks closed a $5 billion strategic funding round at a $190 billion valuation, led by CoatueCoatueCoatue is a technology- and innovation-focused investment management firm founded by Philippe Laffont in 1999, operating in both public and private markets. Its current website lists Thomas Laffont as co-founder and chief investment officer of private investments; a Form ADV filed on July 29, 2026, disclosed regulatory assets under management of $92,705,722,582.Open the full entry with participation from Blackstone, MGX, T. Rowe Price, and Sixth Street Growth, among others.⁠[24][24]

MGX Group Holding 1 Ltd and the MGX Fund Management Limited it owns are both incorporated in the Abu Dhabi Global Market (ADGM), and the latter is licensed and regulated by the ADGM Financial Services Regulatory Authority; the company has offices in Abu Dhabi and New York. As of October 2026, Sheikh Tahnoon bin Zayed Al Nahyan is chairman, Khaldoon Al Mubarak is vice chairman, and Ahmed Yahia Al Idrissi is managing director, CEO, and chairman of the investment committee; he previously served as CEO of Private Equity at Mubadala.⁠[25][25][25][26][26][27][27]

MGX invests across semiconductors, AI digital infrastructure, and AI technology (including the application layer, frontier models such as large language models, software, life sciences, and automation), with about 70% of its capital allocated to North America and the rest to the UAE, Western Europe, and selected Asia-Pacific countries. As of October 2026, the portfolio listed on its website includes AIP, Aligned, Altera, Anthropic, Binance, Campus AI, Databricks, Isomorphic Labs, Khazna, OpenAI, SpaceX, the TikTok U.S. joint venture, and Vantage.⁠[28][28][28][29][29]

MGX: Official website: https://www.mgx.ae/ (opens in a new window).⁠[30]

X: Public account: https://x.com/mgx_ai (opens in a new window)⁠[30]

LinkedInLinkedInLinkedIn is a social networking platform for professionals. It was founded in 2002 by Reid Hoffman and others, launched in 2003, and listed on the New York Stock Exchange in 2011; after Microsoft acquired it for approximately $26.2 billion in 2016, it became a wholly owned Microsoft subsidiary. Its revenue comes from membership subscriptions, advertising, and recruitment solutions.Open the full entry: Public profile: https://www.linkedin.com/company/mgxai/ (opens in a new window)⁠[30]