tech
Abu Dhabi-backed MGX raises $50B for AI bets
It cements MGX as one of the largest tech funders out there.
TL;DR
- MGX has raised nearly $50 billion to invest in the AI sector.
- Capital was raised from sovereign wealth funds and other investors.
- This solidifies MGX's position as a major tech funder.
- Founded in 2024, MGX has invested in foundational AI models like Anthropic.
- MGX was part of ByteDance's U.S. operations divestment deal.