UAE's MGX raises one of the biggest AI funds ever as it closes at $49 billion

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UAE's MGX raises one of the biggest AI funds ever as it closes at $49 billion

AI Summary

UAE's MGX raised $49 billion in one of the largest AI investment funds, backing leading firms including OpenAI, Anthropic, and Elon Musk's xAI before its merger with SpaceX. This significant capital injection signals major confidence in the AI sector.

The company is a backer of major AI companies including OpenAI and Anthropic, alongside Elon Musk's xAI, prior to its merger with SpaceX.

Markets Deals AI & Tech MGX AI fund investment OpenAI xAI Anthropic UAE technology

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