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UAE's MGX raises one of the biggest AI funds ever as it closes at $49 billion

The company is a backer of major AI companies including OpenAI and Anthropic, alongside Elon Musk's xAI, prior to its merger with SpaceX.

UAE's MGX raises one of the biggest AI funds ever as it closes at $49 billion

Published July 1, 2026 · Category: Finance

Overview

The company is a backer of major AI companies including OpenAI and Anthropic, alongside Elon Musk's xAI, prior to its merger with SpaceX.

Source

Originally published at www.cnbc.com.

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