Abu Dhabi’s MGX closes record $49 billion AI fund to invest in AI infrastructure and AI companies after backing OpenAI, Anthropic, and xAI

The race to finance artificial intelligence just reached another milestone. Abu Dhabi investment firm MGX has closed a record $49 billion AI fund, MGX Fund 1, creating one of the largest investment vehicles dedicated to artificial intelligence at a time when investors are pouring unprecedented amounts of capital into the sector.

The fund closed above its original $45 billion target, drawing commitments from institutional and private investors across the Gulf, North America, Asia, and Europe. MGX plans to invest across the AI technology stack, including semiconductors, AI infrastructure, and technologies that support the next generation of AI applications.

The announcement comes during a record year for AI investing. According to Dealroom, AI companies have raised $416.6 billion so far this year, nearly double the amount raised in 2025. The surge reflects growing confidence that AI will remain one of the defining technology investment themes for years to come.

MGX has already emerged as one of the biggest financial backers of leading AI companies. The firm co-led Anthropic’s $30 billion funding round in February and joined the company’s $65 billion Series H financing in May, CNBC reported. It also co-led OpenAI’s $122 billion funding round in March and participated in Elon Musk’s xAI’s $20 billion financing in January before the startup merged with SpaceX.

Those investments have positioned MGX alongside many of the biggest AI deals completed this year, giving the Abu Dhabi-based fund a growing presence across frontier AI model developers.

So far, MGX has invested in 14 companies. The new fund signals that its ambitions extend well beyond foundation models. The firm is targeting opportunities across chips, data center infrastructure, and enabling technologies that support AI deployment at scale.

Infrastructure has already become a major part of MGX’s strategy. In June, the company announced plans to expand an AI campus in France through a partnership with Bpifrance and Mistral. The project reflects a broader industry shift as investors increasingly finance the computing capacity, energy resources, and physical infrastructure required to support the next wave of AI growth.

The closing of MGX’s $49 billion fund adds fresh momentum to an AI investment boom that shows little sign of slowing. Capital is flowing across every layer of the industry, from frontier model developers to semiconductor makers and the infrastructure companies building the foundation for the next generation of artificial intelligence.