Abu Dhabi [UAE], February 28: H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chairman of the MGX Board of Directors, has chaired MGX's first Board meeting of 2026.
Citing the growing evidence of outsized revenue and productivity gains in AI-exposed industries, His Highness welcomed MGX's timely rise as a leading global investor accelerating AI innovation and adoption to power a more prosperous future.
During the meeting, the board reviewed MGX's 2025 business performance and financial results, including the company's annual financial statements. The board also welcomed MGX's strong fundraising momentum, including new commitments from top-tier international investors.
The board discussed MGX's recent follow-on investment in Anthropic's US$30 billion Series G round, which MGX co-led based on its long-term conviction in Anthropic's positive trajectory.
The board also discussed MGX's follow-on participation in xAI's US$20 billion Series E round and its subsequent merger with SpaceX, combining xAI's frontier technology and infrastructure capabilities with SpaceX's highly profitable and groundbreaking space transportation and satellite communications platform.
In addition, the board reviewed MGX's role as co-lead in Databricks' Series K round and its participation in OpenAI's latest employee secondary - its fourth follow-on investment in OpenAI - which signaled again MGX's firm belief in OpenAI's prospects as a current and future AI leader.
The board also reviewed MGX's participation in the establishment of TikTok USDS Joint Venture LLC, the majority American-owned joint venture providing comprehensive data protection, algorithm security, content moderation, and software assurance for more than 200 million US members of TikTok's global community.
Together, these transactions demonstrate MGX's continued success in deploying capital in highly sought-after and accretive opportunities across the AI tech stack and in enabling platforms and technologies with global scale.
The board also discussed progress achieved by the AI Infrastructure Partnership (AIP), where MGX, BlackRock/GIP and their strategic partners are playing a leading role in mobilising long-term capital and convening global technology leaders to accelerate the buildout of next-generation AI infrastructure.
As part of its ongoing organisational review, the board also evaluated the progress of MaGiX, the in-house platform through which MGX develops super agents and other AI applications that enable higher quality investment outcomes, reinforcing MGX's commitment to embedding AI at the core of its operating model.
Ahmed Yahia Al Idrissi, Chief Executive Officer and Managing Director of MGX, said: "MGX continues to invest with clarity of purpose and disciplined execution. Our backing of global AI champions and pace of capital deployment reflect the depth of our conviction in the AI-enabled acceleration of economic growth."
The board meeting was attended by Khaldoon Khalifa Al Mubarak, Jassem Mohamed Bu Ataba Al Zaabi, Peng Xiao, Martin Edelman, and Ahmed Yahia Al Idrissi.
Source: Emirates News Agency
