Key Points
- MGX board, chaired by Sheikh Tahnoun bin Zayed, reviewed its AI portfolio on October 19.
- The fund is studying sales of some holdings to give investors early liquidity.
- Positions span Anthropic, Databricks, SpaceX and OpenAI, several now preparing possible public listings.
The latest:
Abu Dhabi’s MGX is weighing the sale of part of its existing stakes to free up early liquidity for investors, according to a statement published by the Abu Dhabi Media Office on October 19. The decision came at the fund’s third board meeting of 2026, chaired by Sheikh Tahnoun bin Zayed Al Nahyan, Deputy Ruler of Abu Dhabi. The statement named neither the assets involved nor the timing.
Details:
- The liquidity question: The board examined the possibility of monetizing some current holdings to provide early liquidity to investors, alongside new investment opportunities across the components of the AI industry. The statement did not identify which assets are under review, the size of any potential exits, or when they might occur.
- Anthropic round: The review covered MGX’s participation in Anthropic’s Series H, worth 65 billion dollars, which lifted the valuation of the Claude developer to 965 billion dollars. The figure refers to the full funding round, not MGX’s own contribution, which was not disclosed in the meeting statement.
- Where that money goes: Anthropic announced the round in May, saying the funding would support safety research and model interpretability, expand computing capacity, and develop its products and partnerships, according to the company.
- Databricks stake: The board also reviewed MGX’s role in a strategic funding round for Databricks worth 5 billion dollars at a valuation of 190 billion dollars. Reuters reported that MGX helped lead the round. Databricks supplies tools for managing and analyzing data and building AI applications.
- The revenue marker: Databricks said its annualized revenue run rate, calculated on the pace of current business, had passed 7 billion dollars, according to Reuters. The company’s valuation implies a multiple of roughly 27 times that figure.
- SpaceX position: Directors discussed MGX’s investment in SpaceX following its public offering of 85.7 billion dollars, pointing to growth in revenue the company earns from leasing computing capacity to support developers of foundational AI models.
- IPO watch: The meeting reviewed revenue growth at OpenAI and Anthropic and their preparations for a possible public listing, according to the statement. No timeline or venue for either listing was given.
- Who chairs it: Sheikh Tahnoun bin Zayed Al Nahyan serves as Deputy Ruler of Abu Dhabi and chairman of MGX’s board. The October 19 session was the third board meeting the fund has held in 2026.
Background:
MGX is an Abu Dhabi investment vehicle focused on artificial intelligence and advanced technology. Its disclosed positions now run across model developers, data infrastructure and launch and computing capacity, placing it in several of the largest private funding rounds in the sector.
Between the lines:
The liquidity discussion sits beside a portfolio whose paper valuations have climbed steeply, with Anthropic at 965 billion dollars and Databricks at 190 billion. Selling into those marks would convert unrealized gains into cash before any listing. The board’s parallel review of OpenAI and Anthropic IPO preparations suggests exit routes are being assessed in sequence rather than in isolation.
What’s next
Watch for MGX to identify which stakes it would sell and on what timeline, for Anthropic or OpenAI to formalize listing plans, and for the fund’s next board meeting of 2026.
