Abu Dhabi-based asset management firm Lunate is reportedly in discussions to invest up to $1 billion into MGX, a new Abu Dhabi-backed artificial intelligence investment platform. This move reflects the emirate’s escalating ambition to cement its position as a global powerhouse in the AI sector.
Abu Dhabi’s AI Power Play
MGX represents a core component of Abu Dhabi’s national AI strategy, spearheaded by Sheikh Tahnoun bin Zayed Al Nahyan. The platform, a joint venture between AI leader G42 and sovereign investor Mubadala, is actively raising billions through a structured investment fund to attract significant foreign capital and accelerate its global AI investment activities.
Global Partnerships And Ambitions
MGX is already making significant moves on the world stage, financing major AI projects and reportedly supporting leading companies such as OpenAI and xAI. In a landmark collaboration, the platform has partnered with global giants BlackRock and Microsoft on a $30 billion plan to develop a massive data center and energy infrastructure, further enhancing its strategic capabilities.
Lunate’s Expanding Investment Horizon
This potential deal aligns with Lunate’s strategy of diversifying its investments into critical high-growth sectors. Since its inception just two years ago, the firm has already deployed over $13.5 billion in capital. Lunate is also expanding its reach into private markets, recently partnering with HPS Investment Partners to launch a platform focused on private equity and debt investments in major US and European companies, backed by an initial commitment of at least $1 billion.
About Lunate
Lunate is a global alternative investment management company based in Abu Dhabi, managing approximately $110 billion in assets. The firm invests on behalf of institutional investors and family offices, acting as both a general and limited partner across various funds. Its principal shareholders include ADQ and Chimera Investment.
Source: Jawlah
