Abu Dhabi's MGX could raise up to $25 billion for AI fund, Bloomberg News says


FILE PHOTO: Figurines with computers and smartphones are seen in front of the words "Artificial Intelligence AI" in this illustration created on February 19, 2024. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) -Abu Dhabi-based MGX is considering plans to raise as much as $25 billion in third-party capital as the investment group looks to ramp up its artificial intelligence holdings, Bloomberg News reported on Tuesday, citing people familiar with the matter.

MGX declined to comment on the report and Reuters could not immediately verify it.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

Court rules TikTok can continue to operate in Canada for now, Politico reports
Netflix-Warner Bros deal could offer viewers relief from subscription fatigue
AI company Eightfold sued for helping companies secretly score job seekers
SAP shares hit 17-month low as AI-driven selloff burns $130 billion
Intel results to spotlight turnaround efforts as AI data centers boost chip demand
Brazil central bank liquidates Banco Master's Will as Mastercard suspends cards
Netflix co-CEOs go on defensive over $83 billion Warner Bros deal
Exclusive-Meta's new AI team delivered first key models internally this month, CTO says
Taiwan's GlobalWafers preparing for phase two expansion at Texas plant
European telcos to get unlimited radio spectrum under EU draft law

Others Also Read