The Emirates Intelligencer · Tuesday, July 14, 2026

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An Independent Daily Bulletin on Artificial-Intelligence Investment in the United Arab Emirates. Published by otonomi.co

Vol. I., No. 19 Tuesday, July 14, 2026 From the Archive

Sovereign Capital

MGX Closes $49 Billion AI Fund Above Target

Abu Dhabi's technology investment platform is scaling its role in the global AI stack with a fund that exceeded its original target and has already moved into infrastructure, semiconductors and platform companies.

By The Otonomi Investment Desk

Abu Dhabi-based MGX has closed Fund I at $49 billion, above its initial $45 billion target, after attracting institutional and private investors from the Gulf, North America, Asia and Europe.

The firm said the fund was launched to provide curated AI exposure across differentiated and restricted opportunities in the AI technology stack. Since inception, it has invested in 14 companies spanning semiconductors, AI infrastructure, and AI-enabling technologies and platforms.

MGX is a private investment firm with Mubadala Investment Company and G42 as partners and is chaired by Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser. The company has joined a consortium to acquire Aligned Data Centres in a transaction valued at about $40 billion and is also part of a European AI campus programme that could reach 3 gigawatts of compute capacity nationwide.

The National

Sovereign Compute

Abu Dhabi AI Campus First Phase Is Set to Open This Year

The first phase of the UAE-US AI Campus in Abu Dhabi is expected to become operational before the end of 2026, with officials saying the initial 500-megawatt phase is on track as part of a project planned to reach 5 gigawatts.

The campus forms part of the UAE-US AI Acceleration Partnership launched during US President Donald Trump's state visit to the UAE. Zawya reported that the project is expected to become the largest AI campus outside the United States and support advanced computing, AI applications and research capacity in the UAE and wider region.

Zawya

Private Sector AI

Dubai Sets Two-Year Agentic AI Shift for Business Councils

Sheikh Hamdan bin Mohammed has launched an initiative to move Dubai's private sector toward self-executing and self-leading artificial intelligence within two years, under directives from Sheikh Mohammed bin Rashid.

The programme will introduce specialised training tracks for all business councils affiliated with the Dubai Chamber of Commerce. Sheikh Hamdan also directed the Chamber to establish incubators for Agentic AI companies, create new economic opportunities for young people and set up dedicated funds to support the shift.

Dubai Government Media Office

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