Lunate Pumps $1 Billion into AI Platform MGX

Abu Dhabi–based asset management firm Lunate is reportedly in advanced discussions to inject up to USD 1 billion into the artificial intelligence investment platform MGX, according to Bloomberg. The potential investment underscores the emirate’s growing ambition to solidify its position as a global hub for artificial intelligence, amid an international race to accelerate AI development and infrastructure deployment.

MGX, a joint venture between G42 and Mubadala, is currently pursuing a multi-billion-dollar fundraising strategy through a structured investment fund model aimed at attracting significant foreign capital. The platform has been rapidly expanding its involvement in global AI financing, including backing industry leaders such as OpenAI and xAI, and forming strategic alliances with BlackRock and Microsoft as part of a USD 30 billion plan to build large-scale data center and energy infrastructure.

The initiative forms a central pillar of Abu Dhabi’s AI strategy, overseen by Sheikh Tahnoon bin Zayed Al Nahyan, as the emirate intensifies its long-term commitment to emerging technologies. Meanwhile, Lunate continues to diversify its footprint in the sector, having deployed more than USD 13.5 billion in capital within just two years of its establishment.

Lunate currently manages assets for major global investors and operates as both a general partner and limited partner across multiple funds, with key shareholders including ADQ and Chimera Investment.