Abu Dhabi's MGX Closes $49 Billion AI Fund, One of Largest Ever

Abu Dhabi's sovereign wealth fund MGX closed a $49 billion AI fund on Wednesday, making it one of the biggest investment vehicles ever focusing on the sector. The fund has backed 14 companies and was raised from institutional and private investors across the Gulf, North America, Asia and Europe, closing above its initial $45 billion target. MGX co-led Anthropic's $30 billion raise in February and its $65 billion Series H in May, and co-led OpenAI's $122 billion raise in March.
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