MGX Closes $49 Billion AI Fund With Major Bets on OpenAI and Anthropic

MGX was established by Abu Dhabi's Artificial Intelligence and Advanced Technology Council in March 2024 to invest across semiconductors, computing infrastructure, foundation models and applications. Its investments in OpenAI, Anthropic and xAI reflect the United Arab Emirates' use of sovereign capital to connect the global AI supply chain and expand its influence in technology, energy and geopolitics.

MGX said on July 1, 2026, that MGX Fund I had secured final commitments of $49 billion, exceeding its original $45 billion target by $4 billion, or about 8.9%. The capital came from investors in the Gulf, North America, Europe and Asia. The fund has invested in OpenAI and participated in Anthropic's $30 billion Series G financing completed in February 2026.