Abu Dhabi’s MGX Helps Bankroll Trump’s $100 Billion AI Plan
- Fund, known as MGX, is overseen by Abu Dhabi’s Sheikh Tahnoon
- Set up less than a year ago, it has backed OpenAI and xAI
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A day after his inauguration as US President, Donald Trump unveiled a $100 billion venture to fund artificial intelligence infrastructure, backed by three of the biggest names in tech - OpenAI, SoftBank Group Corp. and Oracle Corp. Then there was an Abu Dhabi-based firm that few had heard of: MGX.
The Emirati investment vehicle is overseen by one of the world’s most influential dealmakers — Sheikh Tahnoon bin Zayed Al Nahyan, who’s the United Arab Emirates’ national security advisor, brother to the country’s president, and the man atop a $1.5 trillion empire that spans everything from wealth funds to the region’s foremost AI firm, G42.