MGX will invest to accelerate the development and adoption of AI and advanced technologies through world-leading partnerships both in the UAE and globally.
The UAE government has announced the creation of MGX, a technology investment company to enable the advancement and deployment of leading-edge technologies intended to improve the lives of current and future generations.
H.H. Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chair of the AIATC, said, “In MGX, we are establishing a UAE national champion focused on AI and advanced technologies that will shape a future where technology enables a more prosperous, sustainable and interconnected world.
“Our singular focus is accelerating AI’s responsible and inclusive development for the benefit of humanity, guided by Abu Dhabi’s global investment strategy for artificial intelligence. MGX builds from Abu Dhabi’s innovation and investment leadership and an extensive network of global technology partners; in doing so, the company will further advance the UAE’s role as a home and ecosystem for top technology talent, investors and entrepreneurs.” he added.
The company will invest to accelerate the development and adoption of AI and advanced technologies through world-leading partnerships both in the UAE and globally. Mubadala and G42 will serve as foundational partners in the creation of the new company.
MGX’s investment strategy will focus on three main areas: AI infrastructure (including data centres and connectivity); semiconductors (including logic and memory chip design and manufacturing); and AI core technologies and applications (including AI models, software, data, life sciences and robotics).
The company will build on Abu Dhabi’s existing investments in these areas and deploy capital alongside leading international technology and investment companies.
