Abu Dhabi Launches Major AI Investment Strategy
MGX's investment focus encompasses three areas: AI infrastructure, semiconductors, and core AI technologies and applications.
The Artificial Intelligence and Advanced Technology Council (AIATC), established earlier this year by His Highness Sheikh Mohamed bin Zayed Al Nahyan, announced the creation of MGX, a technology investment company aimed at propelling technologies for the betterment of current and future generations.[1]
Mubadala and G42, renowned players in the technology and investment landscape, join forces as foundational partners in this venture. MGX's investment focus encompasses three areas: AI infrastructure, semiconductors, and core AI technologies and applications. By fostering strategic partnerships both locally and globally, MGX aims to expedite the development and adoption of AI and advanced technologies.
His Highness Sheikh Tahnoun Bin Zayed Al Nahyan, chair of the AIATC, was appointed as the Chairman of the Board of Directors, and His Excellency Khaldoon Khalifa Al Mubarak will be the Vice-Chair. Other board members include His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Peng Xiao, and Ahmed Yahia Al Idrissi.
The CEO of Mubadala’s Direct Investments platform, Al Idrissi, with his extensive experience in both operational and investment domains, is set to lead MGX as its CEO.
The AIATC is mandated to spearhead the development and execution of policies and strategies in the realms of research, infrastructure, and investments concerning AI and advanced technology in Abu Dhabi.