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.

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