Abu Dhabi's MGX backs Anthropic's $65 billion fundraise, giving the UAE stakes in three frontier AI model makers ahead of expected 2025 IPOs

MGX, launched in 2024 by Abu Dhabi AI conglomerate G42 and sovereign wealth fund Mubadala, participated in Anthropic's $65 billion fundraise. MGX now owns stakes in three frontier model frontrunners: Anthropic, OpenAI, and xAI.

The funding round values Anthropic at $965 billion, above that of its rivals. Anthropic spends at least $1.25 billion a month on compute (the computational resources needed to train and run AI models).

Anthropic initially ruled out taking the region's money on national security and moral grounds, but backtracked. All three companies in which MGX holds stakes are expected to go public this year (xAI as part of its parent company SpaceX).