Abu Dhabi’s Lunate Eyes $1 Billion Commitment to AI Firm MGX

Abu Dhabi asset manager Lunate is in discussions to commit as much as $1 billion to state-backed artificial intelligence investor MGX, according to people familiar with the matter.

Lunate deploys capital through four distinct fund strategies, niche partnerships, and also manages money on behalf of other investors. Details on the exact structure of its planned MGX investment were not immediately available.