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The Emirates Intelligencer

An Independent Daily Bulletin on Artificial-Intelligence Investment, Adoption and Deployment. Published by otonomi.co

Vol. I., No. 23 Sunday, July 19, 2026 From the Archive
Sovereign Capital

MGX Closes $49 Billion AI Fund Above Target in Abu Dhabi

The fundraise gives Abu Dhabi one of the clearest capital signals in the global AI stack, from semiconductors and infrastructure to enabling platforms.

By The Otonomi Investment Desk

Abu Dhabi-based MGX has raised $49 billion for Fund I, closing above its initial $45 billion target and drawing institutional and private investors from the Gulf, North America, Asia and Europe, The National reported.

MGX was established in 2024 and is backed by Mubadala Investment Company and G42. The firm said Fund I was created to provide curated AI exposure through differentiated and restricted opportunities across the AI technology stack, including semiconductors, AI infrastructure and AI-enabling technologies and platforms.

The company has invested in 14 companies since inception, according to the report. Its disclosed activity includes participation in Anthropic funding rounds, a $2 billion investment in Binance and involvement in major digital infrastructure transactions, positioning Abu Dhabi capital inside the supply chain for compute, models and platforms.

The National

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Development Finance

UAE Commits $1 Billion to AI Infrastructure Projects Across Africa

The UAE launched the $1 billion AI for Development initiative to support and finance artificial intelligence projects in African countries, with a focus on digital infrastructure, government services, productivity and economic and social development.

Abu Dhabi Media Office said the programme will be implemented by Abu Dhabi Exports Office, part of Abu Dhabi Fund for Development, in cooperation with the UAE Foreign Aid Agency. The initiative covers sectors including education, agriculture and infrastructure and is intended to enable UAE enterprises to implement high-impact development projects.

Abu Dhabi Media Office
Private Sector

Dubai Sets Two-Year Agentic AI Shift for Private Companies

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum launched a two-year initiative to transition Dubai’s private sector toward Agentic AI under the directives of Sheikh Mohammed bin Rashid Al Maktoum, according to Dubai Government Media Office.

The initiative includes specialised training tracks for all business councils affiliated with Dubai Chamber of Commerce. Dubai Chambers has also been directed to establish incubators for Agentic AI companies and set up dedicated funds to support the transition.

Dubai Government Media Office
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Further Dispatches
Health AI

Abu Dhabi Links ADIO, Health Department, MBZUAI and Hub71 in AI Life Sciences Cluster

Abu Dhabi Investment Office, the Department of Health Abu Dhabi, Mohamed bin Zayed University of Artificial Intelligence and Hub71 have partnered under the Health, Endurance, Longevity and Medicine cluster to accelerate AI-driven medicine, precision health, personalised treatments and healthcare data infrastructure.

Invest in Abu Dhabi said companies co-developing AI-powered discovery solutions can access ADIO business support to set up in the HELM cluster and scale globally. The initiative also links startups and scale-ups to investors, cross-border partnerships and MBZUAI-aligned research facilities.

Invest in Abu Dhabi
AI Incorporation

DIFC AI Licence Gives Founders Subsidised Route Into Dubai AI Campus

Dubai International Financial Centre offers an AI Licence for developers and entrepreneurs seeking to set up within its technology and innovation ecosystem, with access to Dubai AI Campus infrastructure, accelerator programmes and collaborative workspaces.

DIFC says the subsidised commercial licence costs $1,500 per annum and includes access to premium coworking spaces, discounted visas and a complimentary subscription to the Ignyte digital platform for capital access, networking and mentorship opportunities.

DIFC
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