AI Backer MGX Fund I Closes $49B in Funding Commitments

Dow Jones

Jul 01

MGX Fund I has closed $49 billion in final funding commitments, ahead of its initial target fund size.

The private investment firm, which has backed OpenAI and Anthropic, was originally expecting $45 billion in commitments.

MGX was established to invest in artificial intelligence and has been involved in funding some of the biggest AI model companies.

It was among the investors involved in Anthropic's $65 billion funding round announced in May, and OpenAI's $122 billion round announced in March.

Fund I was launched to provide exposure to AI through investments in areas including semiconductors, AI infrastructure, and AI technologies and platforms.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

July 01, 2026 08:49 ET (12:49 GMT)

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