Abu Dhabi's MGX Is Throwing $10B a Year at AI's Biggest Names
Government-backed MGX plans to deploy up to $10 billion annually, with stakes in Anthropic, xAI, and OpenAI.
Abu Dhabi's government-backed investment vehicle MGX isn't messing around. The firm has positioned itself as one of the most aggressive AI investors on the planet, snapping up stakes in Anthropic, xAI, and OpenAI — essentially placing bets across the entire frontier AI landscape.
The spending plan? Up to $10 billion per year over the next few years. That's sovereign wealth money flowing directly into the AI arms race at a pace that rivals some of the largest venture firms globally.
MGX's portfolio reads like a who's-who of generative AI heavyweights. By backing three of the most prominent foundation model companies simultaneously, Abu Dhabi is hedging its bets while ensuring it has a seat at the table no matter which company pulls ahead.
The message is clear: the Gulf state wants to be an AI superpower, and it's willing to write very large checks to get there.