Abu Dhabi-based investment firm MGX has committed US$7 billion to a US$100 billion AI infrastructure initiative named Stargate.

This venture, launched by President Donald Trump, also includes tech companies OpenAI, SoftBank Group Corp., and Oracle Corp.

MGX was established in March 2024, with founding partners Mubadala Investment Co. and AI firm G42.

The fund aims to become a significant player in the global AI sector.

It is targeting US$100 billion in assets by combining Mubadala’s financial strength with G42’s technological expertise.