MGX Fund Management Limited
MGX Fund Management Limited is an Emirati state-owned investment firm for artificial intelligence technologies. Established by the government of Abu Dhabi in 2024, MGX aims to become a vehicle for AI-driven investments with a target of managing US$100 billion in assets.
History
MGX was established in 2024 by the government of Abu Dhabi to channel investments into AI-driven technologies and startups and to foster innovation and drive economic growth within the region. MGX was launched in March by two entities: global investment company Mubadala and an artificial intelligence firm G42. MGX's board chair is Sheikh Tahnoun bin Zayed Al Nahyan and Khaldoon Al Mubarak is the vice chair. In September 2024, MGX, BlackRock, and Microsoft announced the Global AI Infrastructure Investment Partnership, an AI investment fund that will focus on data centers and their power infrastructure.In January 2025, MGX partnered with OpenAI, SoftBank, and Oracle on the Stargate Project. In March 2025, MGX made a minority investment in Binance, using World Liberty Financial's Stablecoin for the $2 billion investment. The transaction was announced by the Trump family, with The New York Times calling the announcement "a public and vivid illustration of the ethical conflicts swirling around Mr. Trump’s crypto firm."
MGX, as of July 2025, was working with Mistral and Nvidia to build the largest AI data center campus in Europe. MGX had announced in early 2025 that it planned to invest US$31.2 billion to US$52 billion in the new data center campus in France, to have a one-gigawatt capacity focused on AI.
On September 25, 2025, Trump approved a deal where TikTok in the United States would be controlled by a new US-controlled entity with Oracle, Silver Lake, and MGX collectively holding around 45% of the company, with ByteDance retaining less than 20%.
In October 2025, a consortium involving MGX, AIP, and BlackRock's GIP agreed to acquired Aligned Data Centers for $40 billion from Macquarie Asset Management. It was reported as the largest global data center deal to date.