A. SREENIVASA REDDY (ABU DHABI)
MGX, an Abu Dhabi-based technology investor, is an equity partner in the $100 billion joint venture announced by US President Donald Trump to fund artificial intelligence infrastructure.
Along with MGX, SoftBank, OpenAI, and Oracle will be the equity partners in this ambitious project known as Stargate aimed at accelerating the development of the emerging technology.
“The joint venture will deploy $100 billion immediately,” said SoftBank’s CEO Masayoshi Son, adding that the total investment is targeted to reach “at least $500 billion” in the coming years. The funds will be used to build infrastructure for OpenAI, including data centres and physical campuses.
The first computing system is already under construction in Texas, with plans for additional campuses across the United States. Technology support for the project will come from Arm Holdings, Microsoft, Nvidia, Oracle, and OpenAI.
The Stargate initiative underscores MGX’s commitment to advancing AI technologies. Established in 2024, the Abu Dhabi-based firm focuses on creating one of the world’s most advanced AI ecosystems while partnering with global leaders to drive progress.
The venture was unveiled at the White House by US President Donald Trump, along with OpenAI CEO Sam Altman, Oracle Chairman Larry Ellison, and SoftBank CEO Masayoshi Son.