UAE's MGX raises one of the biggest AI funds ever as it closes at $49 billion
ai
The United Arab Emirates' investment firm MGX has closed one of the world's largest artificial intelligence funds at forty-nine billion dollars. According to CNBC, MGX backs some of the most significant AI companies in the industry, including OpenAI, Anthropic, and Elon Musk's xAI.
Source: https://www.cnbc.com/2026/07/01/mgx-ai-fund-uae-49-billion.html
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