Ruler of Abu Dhabi Chairs MGX’s 2024 Year-End Board Meeting
Summary
On December 20, 2024, the Ruler of Abu Dhabi (his Highness Sheikh Tahnoon bin Zayed Al Nahyan) chaired MGX’s final board meeting of the year, reiterating the United Arab Emirates (UAE)’s commitment to achieving leadership in the development and adoption of future technologies. MGX, a technology investment company aimed at accelerating the development and adoption of artificial intelligence (AI) in the UAE, was launched earlier this year with a focus on AI infrastructure, semiconductors and AI-related technology. During the meeting, his Highness Sheikh Tahnoon acknowledged the UAE’s commitment to advancing technological transformation by investing in AI infrastructure and advanced technology. Furthermore, his Highness Sheikh Tahnoon emphasized the importance of enhancing sustainability and competitiveness in this area and the UAE’s focus on enabling entrepreneurs and emerging companies to advance their businesses in line with the UAE’s digital transformation journey. Earlier in 2024, MGX participated as a significant investor in OpenAI’s $6.6 billion fund raising.
