Abu Dhabi:H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chairman of MGX, presided over the company's third board meeting of 2026. The meeting focused on MGX's recent investment activities, portfolio performance, and strategic initiatives aimed at enhancing its position in the global AI ecosystem.
According to Emirates News Agency, the board reviewed MGX's investments, including significant participation in Anthropic's US$65 billion Series H, valuing the company at US$965 billion, and Databricks' US$5 billion strategic round at a US$190 billion valuation. Additionally, the board discussed MGX's investment in SpaceX, following the company's successful US$85.7 billion public offering, highlighting the revenue growth from leasing compute capacity.
The board assessed the MGX portfolio's performance, noting strong revenue growth at OpenAI and Anthropic as they prepare for potential initial public offerings. Satisfaction was expressed regarding the firm's strategic investments, which have positioned MGX as a leading supporter of AI development companies.
Looking ahead, discussions included the MGX investment pipeline, which features promising opportunities across the AI stack, and plans to potentially monetize some holdings to provide early liquidity for investors. Ahmed Yahia Al Idrissi, Managing Director and CEO of MGX, emphasized the transformative potential of intelligence capacity in driving future achievements.
Khaldoon Khalifa Al Mubarak, Jassem Mohamed Bu Ataba Al Zaabi, Peng Xiao, and Martin Edelman were also present at the board meeting.
