Abu Dhabi Targets $100 Billion AUM for AI Investment Firm – Bloomberg

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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world
Americas+1 212 318 2000
EMEA+44 20 7330 7500
Asia Pacific+65 6212 1000
The AI Race:
Abu Dhabi, United Arab Emirates.
Abu Dhabi is setting up a technology investment firm targeting deals in artificial intelligence and semiconductors that could surpass $100 billion in assets under management in a few years, according to people familiar with the matter.
The company, called MGX, will count sovereign wealth fund Mubadala Investment Co. and AI firm G42 as founding partners. Ahmed Yahia Al Idrissi, who’s chief executive officer of Mubadala’s direct investments platform, will serve as the new entity’s CEO, according to a statement.

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