Enhancing the global role of “MGX” in enabling innovation and upgrading its tools

His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of the Emirate of Abu Dhabi, Chairman of the Board of Directors of MGX, chaired the second meeting of the Board of Directors for the current year.

During the meeting, His Highness stressed the importance of strengthening the global role of MGX in enabling innovation and upgrading his tools, and its contribution to integrating artificial intelligence techniques to increase productivity, upgrade the quality of life, and achieve a more sustainable and prosperous future for all.

During the meeting, the Board of Directors approved a number of investment projects in the field of artificial intelligence, which include semiconductors, infrastructure and applications, the most prominent of which is an additional investment in Openai, as part of the recent funding round that ranked about 300 billion dollars, and this investment comes as a reflection of the increasing confidence of MGX in the capabilities and capabilities of the company «Openai» The growth of its revenues and its continuous role in enhancing the interaction of users.

MGX also joined Silver Lake as a strategic investor in the acquisition of 51% in the Altera company, which was evaluated by about 8.7 billion dollars, which established its position as the world’s largest independent company specialized in the field of programming logical gates, and participated in the MGX in leading the financing round of the category (K) In the interest of the company “Data Brix”, with a value of one billion dollars, in line with the company’s march and its accelerating growth.

On this occasion, the Managing Director, CEO of MGX, Ahmed Yahya Al -Idrisi, said: “(MGX) is devoted to its efforts to enable the growth and expansion process in the new generation of artificial intelligence pioneers in the world, and through our partnerships with the most prominent technological companies and investment institutions, we are working to develop an advanced infrastructure for artificial intelligence, and to advance innovation in the field of innovation in the field of Applications, which contributes to enhancing productivity and pushing the process of sustainable economic growth for all.

The meeting was attended by Khaldoun Khalifa Al -Mubarak, Jassim Mohamed Bouakaba Al -Zaabi, Beng Xiao, Martin Edelman, and Ahmed Yahya Al -Idrisi.

It is noteworthy that MGX was founded in March 2024 by the Council of Artificial Intelligence and Advanced Technology in Abu Dhabi, an investment company in the field of technology that focuses on accelerating the development and adoption of artificial intelligence technologies and advanced technology through leading global partnerships in the UAE and the world.

MGX invest in sectors where artificial intelligence can achieve a large -scale economic value and effect, including semiconductors, infrastructure, software, technology -backed services, life sciences, automation, and robots.