Abu Dhabi establishes technology investment company MGX, aiming for an asset scale of over 100 billion dollars

ChainCatcher news, according to Bloomberg citing informed sources, Abu Dhabi is establishing a technology investment company MGX, aiming to invest in the fields of artificial intelligence and semiconductors, with assets under management potentially exceeding $100 billion within a few years. MGX will be founded with sovereign wealth fund Mubadala and artificial intelligence company G42 as core partners, with Ahmed Yahia Al Idrissi, CEO of Mubadala's direct investment platform, serving as the CEO of the new entity.

It is reported that MGX will be chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the National Security Advisor of the United Arab Emirates, with Khaldoon Al Mubarak, CEO of Mubadala, serving as vice chairman. Other board members include Jassem Al Zaabi, Vice Chairman of the UAE Central Bank, G42 CEO Peng Xiao, and Al Idrissi.