Abu Dhabi-based MGX raised a $49B AI-focused fund, exceeding its $45B target, and plans to spend as much as $10B annually over the next few years (Dinesh Nair/Bloomberg)

<a href="https://www.bloomberg.com/news/articles/2026-07-01/uae-abu-dhabi-s-mgx-raises-49-billion-for-one-of-the-biggest-ai-funds-ever"><img align="RIGHT" border="0" hspace="4" src="http://www.techmeme.com/260701/i30.jpg" vspace="4" /></a> <p><a href="https://www.techmeme.com/260701/p30#a260701p30" title="Techmeme permalink"><img height="12" src="http://www.techmeme.com/img/pml.png" style="border: none; padding: 0; margin: 0;" width="11" /></a> Dinesh Nair / <a href="https://www.bloomberg.com/">Bloomberg</a>:<br /> <span style="font-size: 1.3em;"><b><a href="https://www.bloomberg.com/news/articles/2026-07-01/uae-abu-dhabi-s-mgx-raises-49-billion-for-one-of-the-biggest-ai-funds-ever">Abu Dhabi-based MGX raised a $49B AI-focused fund, exceeding its $45B target, and plans to spend as much as $10B annually over the next few years</a></b></span>&nbsp; &mdash;&nbsp; MGX has raised $49 billion for one of the biggest ever funds dedicated to artificial intelligence deals, propelling the two-year-old Abu Dhabi firm &hellip; </p>