MGX secures nearly $50B to accelerate AI investments, with crypto in its crosshairs

Abu Dhabi's MGX has raised about $50 billion in capital, putting the state-backed investment firm halfway to an ambitious $100 billion assets under management target. The fund was only established in 2024. Regional sovereign wealth funds, global pension funds, and large institutional investors supplied the money.

The firm holds a $6.6 billion position in OpenAI, acquired through a secondary transaction. It also owns a stake in Anthropic, the safety-focused AI lab. MGX participated in a $40 billion data center acquisition. As of mid-June 2026, the fund has been exploring a multi-billion dollar purchase of DayOne, a Singapore-based data center operator. That move would extend its reach into Southeast Asia.

In March 2025, MGX made a $2 billion investment in Binance. At the time, it was the largest single investment ever in a cryptocurrency firm. The deal was structured around AI, blockchain technology, and financial innovation. The investment came two years after Binance's $4.3 billion settlement with US authorities.

MGX's fundraising success is a useful barometer for where institutional capital is heading. The firm raised close to $50 billion in roughly two years. Earlier reports had the target between $25 billion and $50 billion; the final result landed at the top end.

MGX was founded as a joint venture between Mubadala, one of Abu Dhabi's largest sovereign wealth funds, and G42, the UAE-based AI and cloud computing company.