MGX secures nearly $50B to accelerate AI investments, with crypto in its crosshairs

Abu Dhabi’s MGX has raised approximately $50 billion in capital, putting the state-backed investment firm halfway to an ambitious $100 billion assets under management target. For a fund that was only established in 2024, that’s the kind of speed that makes traditional asset managers look like they’re running in wet cement.

The capital has flowed in from a mix of regional sovereign wealth funds, global pension funds, and major institutional investors.

Where the money is going

The fund holds a $6.6 billion position in OpenAI, acquired through a secondary transaction. It also has a stake in Anthropic, the safety-focused AI lab that has become one of the most sought-after private companies on the planet.

MGX participated in a $40 billion data center acquisition. As of mid-June 2026, MGX has been exploring a multi-billion dollar acquisition of DayOne, a Singapore-based data center operator. That move would extend its reach into Southeast Asia.

The crypto connection

In March 2025, MGX made a $2 billion investment in Binance. At the time, it was the largest single investment ever made in a cryptocurrency firm. The deal was structured around a shared focus on AI, blockchain technology, and financial innovation.

That Binance investment was notable for several reasons. First, it came during a period when Binance was still navigating regulatory headwinds following its 2023 settlement with US authorities. Second, the $2 billion check came from a sovereign-adjacent entity, lending Binance a degree of institutional credibility that money alone can’t buy.

What this means for investors

MGX’s fundraising success is a useful barometer for where institutional capital is heading. The firm raised nearly $50 billion in roughly two years. Its earlier capital raise attempts were reportedly in the $25 billion to $50 billion range, meaning the final result landed at the top end.

MGX was founded as a joint venture between Mubadala, one of Abu Dhabi’s largest sovereign wealth funds, and G42, the UAE-based AI and cloud computing company.

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