His Highness Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi, has chaired the inaugural board meeting of MGX.

During the meeting, His Highness affirmed that the purpose of establishing MGX, a UAE national company focused on artificial intelligence (AI) and advanced technologies, is to support shaping a future where technology enables a more prosperous, sustainable and interconnected world.

The board meeting was attended by His Excellency Khaldoon Khalifa Al Mubarak, MGX Vice-Chair, as well as His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Peng Xiao and Ahmed Yahia Al Idrissi.

During the meeting, the board approved several governance and financial matters critical to the company’s forward momentum.

Ahmed Yahia Al Idrissi, CEO of MGX, said: "Under the guidance and vision of His Highness Sheikh Tahnoun bin Zayed, MGX begins today its journey to create an AI-focused investment powerhouse for Abu Dhabi, partnering with the world’s leading AI companies to create the next wave of technology breakthroughs."

The company focuses on enabling the advancement and deployment of leading-edge technologies intended to improve the lives of current and future generations.

The Artificial Intelligence and Advanced Technology Council (AIATC) announced the establishment of MGX in March 2024 through a partnership between Mubadala and G42.

AIATC, established in January 2024 and chaired by His Highness, is responsible for developing and implementing policies and strategies related to research, infrastructure and investments in AI and advanced technology in Abu Dhabi.

The council will also develop plans and research programmes in collaboration with local and global partners to enhance Abu Dhabi's status in the fields of AI and advanced technology.