His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chairman of MGX, has chaired the company’s third board meeting of 2026, reviewing the firm’s recent investment activity, portfolio performance, and ongoing strategy to strengthen its position across the global AI ecosystem.
The board reviewed MGX’s recent investment activity, including participation in Anthropic’s US$65 billion Series H, which valued the company at US$965 billion, and Databricks’ US$5 billion strategic round at a US$190 billion valuation. The board also discussed the firm’s investment in SpaceX following the company’s successful US$85.7 billion public offering, noting the accelerating revenue growth from the leasing of its growing compute capacity in support of the broader foundation model ecosystem.
In evaluating the performance of the MGX portfolio, the board also took note of the robust revenue growth at OpenAI and Anthropic as both companies prepare for potential initial public offerings. The board expressed satisfaction that, when taken together, the firm’s current and past investments placed MGX among the largest and most successful backers of the companies setting the pace in AI development.
Looking forward, the board also discussed the MGX investment pipeline, which continues to hold attractive opportunities across the entire AI stack, as well as the firm’s plans to potentially monetise some of the existing holdings to provide early liquidity to its investors.
Ahmed Yahia Al Idrissi, Managing Director and Chief Executive Officer of MGX, said: “Intelligence capacity is no longer a constraint to human progress. The ability to responsibly harness this boundless resource will define the future pace and scale of our achievements. We are on the cusp of unlocking possibilities for human progress beyond anything we have imagined. At MGX, we back the builders of a more intelligent and prosperous world.”
Also attending the board meeting were His Excellency Khaldoon Khalifa Al Mubarak, His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Peng Xiao and Martin Edelman.
