Abu Dhabi establishes technology investment company MGX with target assets under management exceeding US$100 billion

According to sources, Abu Dhabi is setting up a technology company called MGX that focuses on investments in the fields of artificial intelligence and semiconductors. It is expected that the assets managed by the company will exceed $100 billion within a few years. The company is jointly led by Mubadala Investment Co., a sovereign wealth fund of Abu Dhabi, and AI company G42. Ahmed Yahia Al Idrissi, the CEO of Mubadala's direct investment platform, will serve as the CEO of the new entity, according to a statement.