Abu Dhabi-based MGX raises $49B AI fund surpassing $45B goal
MGX plans up to $10B annually 
It's all part of Abu Dhabi's big push to turn oil wealth into tech leadership, and MGX is right at the center of it.
Chaired by Sheikh Tahnoon bin Zayed Al Nahyan, plus heavyweights like Mubadala and G42, MGX is putting money into everything from advanced AI models to semiconductor infrastructure, and data centers.
They've grabbed stakes in OpenAI and xAI, teamed up with Microsoft and BlackRock, and plan to invest up to $10 billion every year.
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