Abu Dhabi’s Lunate is reportedly negotiating a $1 billion investment in MGX, the UAE AI specialist backed by Mubadala and G42, thereby strengthening the nation’s AI leadership.
Lunate, the Abu Dhabi–based alternative investment manager, is reportedly in advanced discussions to commit $1 billion to AI specialist MGX, marking one of the UAE’s largest potential private-sector investments in artificial intelligence to date.
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The firm invests across private markets, including buyouts, growth equity, early and late-stage venture capital, private credit, real assets and public markets, and manages approximately $110 billion in assets. Lunate is majority-owned by Chimera Investment LLC, overseen by Sheikh Tahnoon bin Zayed Al Nahyan, who also chairs MGX.
Lunate earlier announced plans to raise $25 billion to accelerate its global AI strategy, underscoring the UAE’s growing appetite for large-scale technology investment.
MGX, launched in March 2024 by Mubadala and AI company G42, focuses on core AI technologies, semiconductors and digital infrastructure. The company gained international attention last year after acquiring shares in OpenAI through a $6.6 billion secondary sale that valued the U.S. developer at $500 billion.
If finalised, Lunate’s proposed $1 billion commitment would further deepen the UAE’s footprint in next-generation AI, reinforcing its status as a leading global investor in advanced digital capabilities.
