HH Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chairman of the MGX Board of Directors, has chaired MGX’s first board meeting of 2026, reaffirming its focus on strategic AI investments and global technology leadership.
Citing growing evidence of outsized revenue and productivity gains in AI-driven industries, His Highness welcomed MGX’s emergence as a leading global investor accelerating AI innovation and adoption to drive economic growth and long-term prosperity.
During the meeting, the board reviewed MGX’s 2025 business performance and financial results, including its annual financial statements.
Members also acknowledged MGX’s strong fundraising momentum, with new commitments secured from top-tier international investors, further enabling the company to deploy capital in high-growth AI sectors.
Strategic AI investments
The board highlighted MGX’s follow-on investment in Anthropic’s $30 billion Series G round, which MGX co-led, reflecting confidence in the company’s growth trajectory.
Additional AI-focused transactions reviewed included MGX’s participation in xAI’s $20 billion Series E round and its subsequent merger with SpaceX, combining frontier AI technology with SpaceX’s leading space transportation and satellite communications platform.
MGX also played a co-lead role in Databricks’ Series K funding and completed its fourth follow-on investment in OpenAI, reinforcing its long-term conviction in the company as a global AI leader.
Furthermore, the board examined MGX’s involvement in the establishment of TikTok USDS Joint Venture LLC, a majority American-owned platform providing data protection, algorithm security, content moderation, and software assurance for more than 200 million US users.
The board noted that, “These transactions reflect MGX’s continued success in deploying capital in highly sought-after and accretive opportunities across the AI tech stack, enabling platforms and technologies with global scale.”
Advancing AI infrastructure and in-house capabilities
The board also reviewed progress in the AI Infrastructure Partnership (AIP), a collaboration with BlackRock/GIP and strategic partners to mobilize long-term capital and convene global technology leaders to accelerate next-generation AI infrastructure development.
Additionally, MGX evaluated the progress of MaGiX, its proprietary platform for developing super agents and AI applications that enhance investment outcomes, underscoring the firm’s commitment to embedding AI at the core of its operating model.
Ahmed Yahia Al Idrissi CEO and MD MGX
“MGX continues to invest with clarity of purpose and disciplined execution. Our backing of global AI champions and pace of capital deployment reflect the depth of our conviction in the AI-enabled acceleration of economic growth.”
The board meeting was attended by Khaldoon Khalifa Al Mubarak, Jassem Mohamed Bu Ataba Al Zaabi, Peng Xiao, Martin Edelman, and Ahmed Yahia Al Idrissi.
