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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. 25 Tuesday, July 21, 2026 From the Archive
Sovereign Capital

MGX Raises $49 Billion for Abu Dhabi AI Fund After Beating Target

The close gives Abu Dhabi a larger pool of dedicated capital for semiconductors, AI infrastructure and enabling technologies across the global AI stack.

By The Otonomi Investment Desk

Abu Dhabi-based technology investment company MGX has closed its Fund I at $49 billion, exceeding an initial $45 billion target and drawing institutional and private investors from the Gulf, North America, Asia and Europe, The National reported.

MGX said the fund was launched to give investors curated exposure to artificial intelligence through differentiated and restricted opportunities across semiconductors, AI infrastructure, AI-enabling technologies and platforms. The firm has invested in 14 companies since inception.

The company, established in 2024 with Mubadala Investment Company and G42 as partners, is chaired by Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser. Its recent activity includes participation in Anthropic funding rounds, a consortium acquisition of Aligned Data Centres in a $40 billion transaction, and work on an AI campus near Paris with planned capacity that could reach 3 gigawatts of nationwide compute power.

The National

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Private-Sector AI

Dubai Sets Two-Year Plan to Equip 295,000 Companies With Agentic AI

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum reviewed the executive plan for Dubai’s Agentic AI transformation programme, which aims to empower more than 295,000 companies with 100 specialised AI assistants over two years, Economy Middle East reported.

The plan also supports the establishment of 50 Agentic AI companies and sits alongside Dubai initiatives including the AI Infrastructure Empowerment Platform, used by 27 government entities since its launch last year, the Dubai AI Campus, which hosts more than 400 specialised companies, and Dubai Founders HQ, which has attracted more than 1,100 members and 500 startups within nine months.

Economy Middle East
Federal Capability

UAE Government Taps MBZUAI to Train 80,000 Civil Servants in Agentic AI

The UAE Government has launched a strategic knowledge partnership with Mohamed bin Zayed University of Artificial Intelligence to build Agentic AI expertise across the federal workforce, MBZUAI said.

The partnership supports a national programme approved by the UAE Cabinet to train 80,000 federal employees as Agentic AI experts across all occupational categories. MBZUAI said the programme will combine executive education and specialised capability-building to strengthen institutional readiness and responsible deployment of AI across federal ministries and entities.

MBZUAI
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Further Dispatches
Compute Access

G42 and Core42 Secure US Approval to Receive Advanced Computing Items

G42 said the US Department of Commerce’s Bureau of Industry and Security has included the UAE in Country Group A:5 and approved G42 and Core42 as authorised recipients of advanced computing items under the US-UAE AI framework.

The Abu Dhabi technology group said the decision reflected work by the UAE and industry to build technology protection and compliance frameworks. The approval strengthens the trusted infrastructure channel for AI deployments tied to US-UAE technology cooperation.

G42
Startup Ecosystem

Hub71 Selects 27 Startups From Record Global Applicant Pool

Hub71 selected 27 startups for Cohort 18 of its Access Programme after receiving a record 2,453 applications from 112 countries, the Abu Dhabi technology ecosystem said.

The selected startups have raised nearly $230 million in total funding and are establishing operations in Abu Dhabi. Hub71 said its 12-month programme offers up to AED 250,000 in in-kind incentives and AED 250,000 in cash through a SAFE note, alongside mentorship, investor introductions, regulatory support and access to corporate and government partners.

Hub71
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