Abu Dhabi's AI investment firm MGX raises $49bn for new fund - The National

Summary

Abu Dhabi's AI investment firm MGX has successfully raised $49 billion for a new fund. This significant capital injection is poised to fuel advancements in artificial intelligence. The move underscores the UAE's strategic commitment to becoming a global leader in AI development and innovation. Why it matters: This massive fund will significantly boost AI infrastructure, research, and product development within the UAE and the broader Middle East, solidifying Abu Dhabi's position as a major global AI investment hub.