In a significant meeting, His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chairman of MGX, presided over the third board meeting of the company for the year 2026. The session focused on the latest investments made by MGX and the performance of its investment portfolio, along with strategic developments aimed at enhancing its position within the global artificial intelligence (AI) ecosystem.
Reviewing Recent Investment Activities
The board discussed MGX’s latest investment activities, which included participation in a Series H funding round for Anthropic amounting to $65 billion, valuing the company at $965 billion. Additionally, MGX participated in a strategic funding round for Databricks, contributing $5 billion, bringing the company’s valuation to $190 billion.
Exciting Prospects with SpaceX
An important topic was MGX’s potential investment in SpaceX following its public offering, which raised approximately $85.7 billion. The board highlighted the accelerated revenue growth at SpaceX, driven by its expansion into computing capacity leasing, which supports foundational AI models.
Performance of the Investment Portfolio
During the performance review of the investment portfolio, the board noted significant revenue growth for both OpenAI and Anthropic, as both companies prepare for potential public offerings. The success of MGX’s investment strategy has solidified its status among the leading global investors in companies propelling the advancement of AI technology, thanks to its continuous investments over the past years.
Exploring Future Opportunities
The board also explored promising investment opportunities under consideration by MGX within the AI sector. Discussions centred on how to leverage certain existing investments to provide liquidity for early-stage investors.
Commitment to Responsible Progress in AI
Ahmad Yahya Al Idrisi, Managing Director and CEO of MGX, stated, “The availability of intelligence and cognitive capabilities is no longer a barrier to human advancement. Artificial intelligence offers immense possibilities that transcend traditional boundaries. Our ability to harness these capabilities responsibly will be the decisive factor in determining the pace of progress and the scale of achievements we can attain. We are on the brink of a new phase that opens up avenues for advancement beyond anything we have previously imagined. At MGX, we remain committed to supporting leading companies that contribute to building a smarter and more prosperous world.”
The meeting was attended by notable figures including H.E. Khledon Khalifa Al Mubarak, H.E. Jasim Mohammed Bu Atabah Al Zaabi, Bing Xiao, and Martin Edelman.