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Abu Dhabi’s MGX Eyes Up to $25 Billion for AI Investments

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Abu Dhabi-based investment group MGX is exploring plans to raise as much as $25 billion from third-party investors to expand its artificial intelligence portfolio, Bloomberg News reported, citing sources familiar with the matter. The group, already backed by Mubadala Investment Co and AI firm G42, would retain these as its main supporters while seeking additional funding from both domestic and international financial and strategic investors.

MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan — the UAE’s national security adviser and brother of President Sheikh Mohammed bin Zayed — has existing stakes in OpenAI and Elon Musk’s xAI. The potential fundraising aims to accelerate its role in the global AI race. No final decision on the plan has yet been made.

The news follows reports from the Financial Times that French AI startup Mistral is in talks with MGX and other investors to secure $1 billion in funding at a $10 billion valuation, further highlighting the UAE’s growing influence in AI investments.

UAE Seeks Easier Access to US Chip Technology, Bloomberg Reports

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Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser, is set to visit Washington next week to discuss easier access to U.S. technology and potential investment opportunities in the U.S., according to Bloomberg News. Sheikh Tahnoon, who is also the brother of the UAE’s president, is expected to meet with key officials from the Trump administration, including Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and National Security Advisor Mike Waltz. The participation of President Trump is still uncertain.

The UAE’s push for greater access to American technology comes amid tighter restrictions on the export of artificial intelligence chips imposed by the U.S. government at the start of 2025. This includes Nvidia chips, essential for advanced AI development, with some countries, like Japan, Britain, South Korea, and the Netherlands, receiving exemptions from the new rules. However, countries like the UAE, Saudi Arabia, and Singapore will face some caps on access.

The UAE, seeking to develop its own advanced technology sector, is particularly eager to acquire cutting-edge American innovations. However, the U.S. concerns about the UAE’s close ties to China have raised obstacles to deeper cooperation. Sheikh Tahnoon’s visit is reportedly at the request of the Trump administration, as both nations continue to navigate their strategic technology and trade relations.