MarketPR
UAE-based MGX has closed one of the largest artificial intelligence investment funds ever raised, locking in $49 billion in capital commitments.
The fund counts OpenAI, Anthropic, and Elon Musk's xAI among its portfolio companies, with the xAI position established prior to that company's merger with SpaceX.
Scale on Record At $49 billion, MGX's fund close ranks among the largest dedicated artificial intelligence vehicles ever raised.
The number is the operative fact for capital allocators: a single fund, based in the UAE, has locked in a commitment to AI at a scale that few investment vehicles anywhere have matched.
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