UAE's MGX raises one of the biggest AI funds ever as it closes at $49 billion
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Source: CNBC
Published: 2026-07-01 19:04 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Technology & AI, Business & Economy
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Snippet:
Abu Dhabi's sovereign wealth fund MGX on Wednesday announced it has closed a $49 billion fund to back AI companies, making it one of the biggest ever investment vehicles focusing on the sector.
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