Tahnoon bin Zayed chairs MGX's first board meeting of 2025
ABU DHABI (ALETIHAD)His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chairman of the MGX Board of Directors, has chaired MGX's inaugural board meeting of 2025. His Highness praised the company's rapid progress enabling accelerated technology development and innovation, and its emergence as a globally leading investor in AI infrastructure and technology that contributes to boosting productivity, enhancing quality of life, and ensuring a more sustainable and prosperous future for all.The board reviewed MGX's financial performance for 2024, welcoming the remarkable progress achieved in the build-out of the MGX portfolio, including the latter's leading role in the establishment of the AI Infrastructure Partnership (AIP), which recently welcomed xAI and Nvidia to the founding partnership of MGX, BlackRock and Microsoft. The board similarly welcomed MGX investments in leading large language models (LLM's) including Open AI, Anthropic and xAI. The board also approved the company's 2024 financial statements and various forward-looking budgetary approvals, as well as the company's 2025 strategic priorities including planned investments in semiconductors, globally leading technology platforms and AI native applications.In response to directions from the board and as part of its support for the UAE's National Strategy for Artificial Intelligence 2031, MGX also introduced Ain, its proprietary AI-powered, voice-enabled board observer. Ain uses advanced AI models to pull data from MGX's internal systems and external data sources to provide deep, real-time insights in support of board investment decisions and risk assessments.Ain offers clear and actionable recommendations and listens to and learns from the board and management discussions, continuously improving its understanding of the strategy and the business and helping MGX make faster and better decisions.Managing Director and CEO of MGX, Ahmed Yahia Al Idrissi, said, 'Under the visionary leadership of His Highness Sheikh Tahnoon bin Zayed, MGX is laying the groundwork for a new era of AI-driven investing. The launch of Ain represents a breakthrough in corporate governance, seamlessly integrating artificial intelligence into the fabric of our decision-making processes. With Ain, AI emerges not merely as a tool, but as a trusted partner in shaping MGX's future.'The board meeting was attended by His Excellency Khaldoon Khalifa Al Mubarak, Vice Chairman of MGX, and board members including His Excellency Jassem Mohamed Bu Ataba Al Zaabi, Peng Xiao, Martin Edelman, and Ahmed Yahia Al Idrissi.MGX was established in March 2024 by the Artificial Intelligence and Advanced Technology Council in Abu Dhabi.It is a technology investment company focused on accelerating the development and adoption of artificial intelligence and advanced technologies through world-leading partnerships in the UAE and globally.
MGX invests in sectors where AI can create broad economic value and impact, including semiconductors, infrastructure, software, tech-enabled services, life sciences, and AI infrastructure.
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