Abu dhabi: H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi and Chairman of MGX, has chaired the company’s second board meeting of 2026, reviewing new investments and performance in a dynamic portfolio that continues to expand across the entire AI tech stack.
According to Emirates News Agency, during the meeting, the board reviewed MGX’s strong financial and portfolio performance, including its participation as co-lead in OpenAI’s latest US$122 billion funding round. This investment, marking MGX’s fifth follow-on in OpenAI, reflects a continued deep conviction in OpenAI’s growth trajectory and long-term role in shaping the future of AI.
The board discussed MGX’s participation in Isomorphic Labs’ US$2.1 billion Series B funding round, which represents MGX’s first foray into an exciting new frontier of AI-enabled drug discovery. With roots in Alphabet and DeepMind, Isomorphic has a mission to transform drug discovery with the power of artificial intelligence, ushering in a new era of biomedical breakthroughs.
These investments underscore MGX’s strategy to back the most impactful AI platforms delivering advances in human health and productivity, while also generating long-term economic value.
On the AI infrastructure side, the board reviewed the rapid expansion of contracted capacity by MGX portfolio companies, which is projected to exceed 8GWs by the end of 2026, positioning the firm as a leading enabler of AI infrastructure expansion globally.
Ahmed Yahia Al Idrissi, Chief Executive Officer and Managing Director of MGX, stated that MGX continues to grow and invest with conviction across a widening spectrum of the AI economy, from leading frontier models and platforms to the infrastructure required to scale them globally. He emphasized the focus on adding long-term value to the global AI ecosystem by backing the platforms, partnerships, and innovation that can help enable a better future for all.