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ABU DHABI'S MGX CLOSES $49B AI MEGA-FUND

MGX, an Abu Dhabi-based investment firm, raised $49 billion for an artificial intelligence-focused fund, surpassing its $45 billion target. The firm plans to deploy as much as $10 billion annually over the coming years.

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Abu Dhabi-based MGX raised a $49B AI-focused fund, exceeding its $45B target, and plans to spend as much as $10B annually over the next few years (Dinesh Nair/Bloomberg)

Dinesh Nair / Bloomberg: Abu Dhabi-based MGX raised a $49B AI-focused fund, exceeding its $45B target, and plans to spen…

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