The U.S.-U.A.E. Business Council hosted a conversation with Ahmed Yahia Al Idrissi, CEO and Managing Director of MGX, on Monday, April 14th at the Four Seasons Hotel in Abu Dhabi. Mr. Idrissi briefed over 100 senior business executives about MGX’s mandate, objectives, and strategic investment plans. U.S. Ambassador to the U.A.E. Martina Strong welcomed attendees and highlighted MGX’s importance to the bilateral U.S.-U.A.E. trade and investment relationship. 

Ambassador Strong outlined important recent developments in the U.S.-U.A.E. relationship, in particular, the $1.4 trillion the U.A.E. pledged to invest in the United States over the next 10 years. She detailed the success of the U.S. Secretary of Energy’s visit to the U.A.E. last week, and mentioned other senior-level visits that are expected in the next month leading up to the visit of U.S. President Donald Trump to the U.A.E. in May.  She noted that this will be the first foreign trip by President Trump in his second term, and the first U.S. Presidential visit to the U.A.E. since 2008. She anticipated big announcements regarding U.S.-U.A.E. investments and collaboration in key sectors focused on the future, particularly in the areas of AI, manufacturing, healthcare, and energy.

In his opening remarks, Mr. Idrissi explained that MGX was created to harness the U.A.E.’s investment firepower in AI and advanced technology.  MGX’s investment strategy focuses on three main areas:

1. Semiconductors, including manufacturing, design, and improving efficiencies in the production of semiconductor components
2. AI infrastructure, including data centers
3. AI applications, including LLMs and AI-native applications

Mr. Idrissi then characterized the AI revolution as a world-changing phenomenon that will transform all aspects of business and industry. He referred to the visionary leadership of the U.A.E. government in identifying the value and potential of AI early, and directing investments accordingly. He added that the U.A.E. leadership is committed to integrating AI into its processes, and discussed how MGX is integrating AI into its workforce, including by the introduction of a AI member to its Board. 
  
Mr. Idrissi affirmed that the primary destination for MGX investments is the AI ecosystem in the United States and noted that 70-80% of MGX’s capital will be invested in the United States. He added that the United States remains the most attractive market due to its dynamic technology and innovation ecosystem, deep talent pool, and supportive regulatory environment. This is due to:

• The United States’ unparalleled capacity for innovation
• The United States’ sophisticated capital markets
• The size and integration of the U.S. market
• The U.S. political and regulatory system, which is geared toward private enterprise
• The widespread ethos that anyone can be successful by working hard

MGX is a leading AI and advanced technology investor committed to accelerating the responsible development of AI-led technologies that will deliver a positive economic and social impact. Born in the U.A.E., MGX seeks to build one of the world’s most advanced AI ecosystems locally while partnering with global leaders in AI to create value and drive progress around the world. To learn more about MGX, please see here.

For more information about the U.S.-U.A.E. Business Council’s programming and this event, please contact Caitlin Cottrell at ccottrell@usuaebusiness.org