Topic
MGX
Stories tagged MGX
Abu Dhabi Fund Backs OpenAI's $10B Round
OpenAI is closing in on a $10 billion funding round backed by Abu Dhabi's MGX alongside Coatue Management and Thrive Capital — a deal that could push OpenAI's valuation to roughly $850 billion and underscores the UAE's growing role in global AI investment.
25 Mar 2026
UAE Ranks #1 in Global AI Adoption — Abu Dhabi Leads
The UAE has secured the top spot in global AI adoption, ranking number one for daily AI usage worldwide. Abu Dhabi is the engine behind this rise, leading through platforms like Falcon, MGX, and Stargate, and hosting world-class research at MBZUAI.
20 Dec 2025
TikTok US Sale: MGX, Oracle and Silver Lake Form Joint Venture
TikTok has signed a binding agreement to sell its US business to a group of American and UAE-backed investors. The deal brings together Abu Dhabi's MGX, Oracle, and Silver Lake — each taking a 15% stake in a new joint venture set to close on January 22.
20 Dec 2025
NVIDIA and xAI Join AI Infrastructure Partnership
NVIDIA and xAI have joined the AI Infrastructure Partnership, the $100 billion initiative backed by BlackRock, Global Infrastructure Partners, Microsoft, and Abu Dhabi's MGX. The expanded alliance targets new AI data centers in the US and partner countries, with GE Vernova and
20 Mar 2025
MGX Invests $2 Billion in Binance in Historic Crypto Deal
Abu Dhabi's MGX has committed $2 billion to Binance in a minority-stake deal that marks both the crypto giant's first-ever institutional investment and the largest single transaction settled in stablecoin in the history of the digital asset industry.
12 Mar 2025
Middle East AI Innovation: PwC Report Highlights GCC Edge
A PwC report identifies five structural factors driving Middle East AI innovation — from sovereign wealth funds to government-led national strategies — as the UAE prepares to rank third globally and MGX deepens ties with OpenAI.
8 Oct 2024