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Why the New Abu Dhabi MGX AI Fund Changes Global Tech Forever

The technology sector just witnessed a seismic shift. With the announcement that Abu Dhabi’s tech investment vehicle, MGX, has raised a staggering US$49 billion for a dedicated artificial intelligence fund, the global tech landscape has officially entered a new era. This is not just another venture capital pool; the Abu Dhabi MGX AI fund represents a massive institutional validation of AI as the defining economic engine of the next century. By eclipsing its original US$45 billion target, MGX isn't merely participating in the tech boom-it is aggressively positioning itself to dictate its direction. What makes the new Abu Dhabi MGX AI fund a game-changer? In my view, the sheer scale of this fund alters the venture capital ecosystem entirely. Raising US$49 billion in a climate where some tech stocks are experiencing volatility shows incredible contrarian conviction. This capital gives MGX unmatched structural leverage. The fund allows Abu Dhabi to anchor the most capital-intensive pr...
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Iran fires new salvo of missiles, explosions at Tel Aviv, Jerusalem

 


TEHRAN: Iranian media reported a new salvo of missiles fired at Israel Thursday, as the rivals traded fire for seventh day of the conflict after Israeli strikes on Iran on last Friday.

“The missiles roared over Tel Aviv,” the Iranian news agency Fars reported, while state television broadcast live images of the commercial hub.

Sirens sounded across Israel early Thursday as the Israeli military said it detected incoming missiles from Iran.

“A short while ago, sirens sounded in several areas across Israel following the identification of missiles launched from Iran toward Israel,” the military said in a post on Telegram.

AFP journalists heard violent, sustained explosions in Jerusalem and Tel Aviv on Thursday morning, as sirens sounded in several parts of the country and the Israeli army warned of incoming Iranian missiles.

According to the journalists, the explosions heard in Jerusalem around 7:10 am (0410 GMT) were the biggest since the conflict with Iran began one week ago.

Israel’s foreign ministry reported a direct hit on a hospital in the south on Thursday, after Iran fired fresh salvo of missiles at the country.

“BREAKING: A direct hit has been reported at Soroka Hospital in Beersheba, southern Israel. More details to follow,” the foreign ministry posted on X.

A spokesperson for the hospital reported “damage to the hospital and extensive damage in various areas. We are currently assessing the damage, including injuries. We ask the public not to come to the hospital at this time.”

Moreover, Israeli military Thursday said people were permitted to leave shelters in several parts of the country where they had been told to take cover after Iran launched a new barrage of missiles towards Israel.

“Following the situational assessment, the Home Front Command published that it is now permitted to leave protected spaces in several areas across the country,” the military said in a statement.

A military official added that “dozens of ballistic missiles were launched at Israel in the last barrage from Iran”.


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