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...
The massive quake shook eastern Russia and far western Alaska. Here's the latest. Hours after a massive 8.8 magnitude earthquake struck near the Russian coast, becoming one of the strongest tremors ever recorded, tsunami waves arrived in Hawaii and the U.S. West Coast following efforts to get hundreds of thousands away from coastlines and to higher ground. As the tsunami waves arrived in Hawaii, the water receded 20 to 30 feet on Oahu, according to the Associated Press. Boats were left behind on dry sand as the water pulled out, and although officials said they were still surveying the coastlines, no damage has been reported in Hawaii so far. In California, tsunami waves as big as 4 feet have been recorded (that one was in Crescent City), and residents were urged to remain off the beaches until further notice. "We are now seeing tidal swings of 2 to 2.5 feet in as little as 15 minutes ," in San Francisco, the National Weather Service's Bay Area office posted on X W...