Abu Dhabi establishes technology investment company MGX with target assets under management exceeding US$100 billion

According to BlockBeats news, on March 11, according to people familiar with the matter, Abu Dhabi is setting up a technology company MGX to focus on investment in artificial intelligence and semiconductor fields. It is expected that its assets under management will exceed US$100 billion within a few years. The company is co-led by Abu Dhabi sovereign wealth fund Mubadala Investment Co. and AI firm G42 as foundation partners. Ahmed Yahia Al Idrissi, chief executive of Mubadala's direct investment platform, will serve as chief executive of the new entity, according to a statement.