The Artificial Intelligence and Advanced Technology Council, which was launched by His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, on January 22, 2024, announced the establishment of MGX, a technology investment company that aims to enable, develop and employ leading technology. With the aim of improving the lives of current and future generations.
Mubadala Investment and G42 will be founding partners in the new company. The company will invest with the aim of accelerating the development and adoption of artificial intelligence and advanced technology, by entering into partnerships in the UAE and the world.
MGX's investment strategy will focus on three main areas: artificial intelligence infrastructure (including data and communication centers), semiconductors (including the design and manufacture of memory units and logical operations); and the core technologies and applications of AI (including AI models, software, data, life sciences, and robotics).
The new company will benefit from Abu Dhabi's existing investments in these areas, and will also deploy investments alongside leading global technology and investment companies.
On this occasion, His Highness Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of the Emirate of Abu Dhabi, National Security Advisor, and Chairman of the Artificial Intelligence and Advanced Technology Council, said: “We are working to establish MGX as a national company working to develop artificial intelligence and advanced technology, with the aim of building… A future in which technology plays a major role in serving humanity and enhancing the level of well-being, sustainability, and communication between the countries of the world.”
His Highness added: “Our main goal is to accelerate the development of artificial intelligence in a responsible and comprehensive manner, in line with Abu Dhabi’s global strategy for investing in artificial intelligence. MGX will benefit from Abu Dhabi’s leading global position in the field of innovation and investment, and will cooperate with a group of global partners.” In the field of technology. The company will contribute to strengthening the UAE’s position as an attractive center for investors, entrepreneurs and talented people in the field of technology.”
Both Mubadala Investment Company and G42 have a strong and broad investment base in sectors that are critical to the new investment strategy in artificial intelligence.
G42 is a leading global company in the field of artificial intelligence technology, and works in the fields of cloud computing, advanced data centers, and specialized artificial intelligence applications, ranging from financial services to smart cities, and Mubadala is an important investor that played a transformative role in AMD’s journey. She also founded Global Foundries; One of the world's leading companies in the field of semiconductor manufacturing. Mubadala is also a leading investor in software, life sciences and new commerce.
Mubadala and G42 worked to develop Khazna into a leading global company in the field of data center infrastructure, and the two companies worked on launching M42. The region's leading healthcare and life sciences technology company, along with Space42; One of the largest geospatial technology companies in the world.
His Highness Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of the Emirate of Abu Dhabi, National Security Advisor, and Chairman of the Artificial Intelligence and Advanced Technology Council, will chair the Board of Directors of the new company, and His Excellency Khaldun Khalifa Al Mubarak will assume the position of Vice Chairman, and among the members of the Board of Directors will be His Excellency Jassim Mohammed Buataba Al Zaabi. , Mr. Ping Xiao, and Mr. Ahmed Yahya Al-Idrissi.
Ahmed Yahya Al-Idrissi, who is currently CEO of the direct investments sector at Mubadala, will assume the position of CEO of the new investment company. Al-Idrissi has more than 30 years of experience in the fields of operations and investment, and has a proven track record in investing and establishing leading global companies in the field of technology.
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