Skip to content Skip to Search
Skip navigation

UAE’s MGX joins $30bn AI infrastructure initiative

By Pramod Kumar
The Global AI Infrastructure Investment Partnership (GAIIP) will invest in building data centres and energy infrastructure Unsplash.com
The Global AI Infrastructure Investment Partnership (GAIIP) will invest in building data centres and energy infrastructure

UAE technology investment company MGX is part of a new $30 billion initiative, which will invest in building data centres and energy infrastructure.

Other members of the Global AI Infrastructure Investment Partnership (GAIIP) are US-based BlackRock, Global Infrastructure Partners and Microsoft.

The proceeds, which will be raised through private equity capital, may reach up to $100 billion, including debt financing. These will be primarily invested in the US and the remainder in its partner countries.

US-based AI chip company Nvidia will provide expertise in AI data centres and AI factories to GAIIP.

Sheikh Tahnoon bin Zayed Al Nahyan, chairman of MGX, said the partnership will enable faster innovation, technological breakthroughs, and transformational productivity gains across the global economy.  

“Data centres are the bedrock of the digital economy, and these investments will help power economic growth, create jobs, and drive AI technology innovation,” said Larry Fink, chairman and CEO of BlackRock.

In March, Abu Dhabi launched MGX, an AI-focused investment vehicle, with sovereign wealth fund Mubadala and AI company G42 as its founding partners.

Latest articles

The Al Nakhla compound bought by Sarcc is set in 250,000 sq m of gardens

PIF worker housing company buys luxury compound

Smart Accommodation for Residential Complexes Company (Sarcc), the company established to provide housing for workers employed on major projects, has bought a luxury residential compound in Riyadh.  Sarcc acquired Al Nakhla Residential Resort in Riyadh for SR2.5 billion ($667 million).  The development, located in northern Riyadh, has more than 600 apartments and over 500 villas.   […]

Mohammed Alardhi, executive chairman of Investcorp, has welcomed Donald Trump's return to power, saying: 'We think the new administration is pro-growth'

Investcorp chairman weighs IPO or deal with strategic investor

Investcorp is considering a tie-up with a strategic investor or an initial public offering in the next few years, its executive chairman has said.  Mohammed Alardhi said the Bahrain-based alternative asset manager had streamlined its strategy and reshuffled its leadership and management teams.  For its next period of growth, Investcorp may look to outside investment, […]

Mohammed Shia Al-Sudani, Iraq’s prime minister, has revealed plans for major oil, gas and petrochemical projects

Iraq makes huge oil discovery but faces Opec restrictions

Iraq has announced the discovery of a massive oil field expected to significantly increase the country’s hydrocarbon reserves, but Baghdad will face a number of challenges in its attempt to exploit the new resource. The field, located in the central part of the country, contains more than 2 billion barrels of medium and light crude […]

A residential street in Istanbul. Turkish house sales rose in December and the trend is expected to continue

Turkish house sales rise as interest rates fall

Turkish house sales rebounded strongly in 2024, driven in part by a surge in December prompted by a long-anticipated interest rates cut, and further reductions in borrowing costs are expected to fuel appetite in the market this year.  Residential sales increased 20 percent last year, with just under 1.48 million units sold, up from the […]