Abu Dhabi’s MGX could raise up to $25 billion for AI fund: Report

Abu Dhabi-based MGX is considering plans to raise as much as $25 billion in third-party capital as the investment group looks to ramp up its artificial intelligence holdings, Bloomberg News reported on Tuesday, citing people familiar with the matter.

MGX declined to comment on the report and Reuters could not immediately verify it.

Company executives are weighing raising money from financial and strategic investors in Abu Dhabi and beyond, but Mubadala Investment and AI firm G42 will remain MGX’s main backers, the report said.

No final decisions have…