The UAE “MgX” is considering raising billions of dollars to support artificial intelligence

Based in Abu Dhabi, MGX is studying plans to raise billions of dollars from foreign capital, as part of its efforts to expand its investments in artificial intelligence, according to people who are familiar with the matter. These people, who asked not to reveal their identity due to the privacy of information, said the company was trying to raise funds through the structure of a fund dedicated to investment in the infrastructure of artificial intelligence. MGX could possibly raise up to $ 25 billion for this fund, which, according to a person, makes one of the largest entities of its kind in the world. The company officials also study the collection of funds from financial and strategic investors in Abu Dhabi and abroad, according to the people themselves, while emphasizing that the “Mubadala Investment” business and the AI “G42” will remain the two most important supporters of “MGX”. Final decisions have not yet been made, and an MGX spokesman refused to comment on the subject. A rare case in Abu Dhabi and if the fund decides to attract world investors, it will be one of the rare cases in which the Abu Dhabi -based party seeks to attract external capital as the oil -rich emirate is known as a traditional capital capital, as the sovereign wealth fund is managed in it. However, read: “Invidia” and “MGX” Emirati MGX, the largest data center in Europe, was the investment business led by Mark Walter, the founder of “Guggenheim Partners”, and financial expert Thomas Tul agreed earlier this year to buy a minority interest in recent months. An external investor may have an interest in this entity. The steps of “MGX” are subject to “MGX” under the supervision of one of the most prominent presenters in the world, Sheikh Tahnoon bin Zayed Al Nahyan, the national security adviser of the UAE and the president of the state, and the man who oversees an investment empire, which is expanded at about 1.5 trillion. MGX was founded last year in a partnership between Mubadala and G42, with the aim of reaching assets of more than $ 100 billion, and the company has since occurred an important tool in state leadership in the field of artificial intelligence. Also read: The Emirati “MgX” expands its operations in the United States. The company also intends to participate in the “Stargate” project of US President Donald Trump, and has already supported both Openai and the Xai project launched by Elon Musk, and has also worked with Black Rock and Microsoft in a construction plan in a construction plan and infrastructure houses of $ 30 billion. In recent months, MGX has strengthened its operations in the United States by attracting managers of large companies such as Apollo Global Management and “Warburg Pincus”.