Abu Dhabi-based MGX raised $49 billion for MGX Fund I to invest across the AI stack. The fund targets restricted, differentiated opportunities spanning semiconductors, AI infrastructure, and related AI enablement layers.
10:42 AMPYMNTS9 stories from 3 sources
AI infrastructure attracts sovereign-scale venture capital
Day’s Recap
Supporting Articles
Abu Dhabi-backed MGX raised $49 billion for a dedicated AI investment fund, one of the largest ever assembled for the category. The raise vaults the two-year-old firm into the top tier of global capital allocators shaping the AI deal market.
2:00 AMBloomberg MarketsTogether AI raised $800 million in a Series C to expand the infrastructure that helps companies run open-source AI models at scale. The round values the company at $8.3 billion, up from $3.3 billion after a $305 million Series B in February 2025.
2:39 PMPYMNTSSwitch Inc. has started a private funding round led by Andreessen Horowitz that could raise about $2 billion, according to people familiar with the matter.
9:45 PMBloomberg Markets10:42 AMPYMNTS
MGX Pursues AI Infrastructure Investments With $49 Billion Fund
Summary
Abu Dhabi-based MGX raised $49 billion for MGX Fund I to invest across the AI stack. The fund targets restricted, differentiated opportunities spanning semiconductors, AI infrastructure, and related AI enablement layers.
Why it matters
AI infrastructure is becoming a sovereign-scale capital game, reshaping who can fund and control the bottlenecks that determine AI progress.
2:00 AMBloomberg Markets
Abu Dhabi’s MGX Raises $49 Billion for One of the Biggest Ever AI Funds
Summary
Abu Dhabi-backed MGX raised $49 billion for a dedicated AI investment fund, one of the largest ever assembled for the category. The raise vaults the two-year-old firm into the top tier of global capital allocators shaping the AI deal market.
Why it matters
A single new mega-fund can reroute AI capital flows, shifting leverage toward firms that can absorb very large rounds and away from smaller VCs competing on price.
2:39 PMPYMNTS
Together AI Raises $800 Million to Scale Cheaper Open-Source Models
Summary
Together AI raised $800 million in a Series C to expand the infrastructure that helps companies run open-source AI models at scale. The round values the company at $8.3 billion, up from $3.3 billion after a $305 million Series B in February 2025.
Why it matters
A larger, better-funded open-source inference layer can reset AI unit economics for startups and enterprises building outside closed model ecosystems.
9:45 PMBloomberg Markets
Data Center Firm Switch Seeks $2 Billion in Funding Round
Summary
Switch Inc. has started a private funding round led by Andreessen Horowitz that could raise about $2 billion, according to people familiar with the matter.
Why it matters
It is a read-through on how aggressively top VCs are underwriting AI-era power and data center buildouts.
Other Developments
A curated list of other prominent stories from this day.
Headline Growth partner Clarey Zhu says Asia offers major tech investing openings in AI infrastructure, deep tech, and robotics. She discusses where she sees near term momentum while speaking at the IVS2026 conference in Kyoto.
11:58 PMBloomberg MarketsGolden Seeds has surpassed $200 million invested in women-led companies, as its CEO says early-stage conditions for women founders have shifted. The firm is emphasizing scalable tech businesses and green technology as investor priorities.
4:17 PMBloomberg MarketsTwelve Labs raised $100 million to pursue AI models and products built around video understanding rather than text. The company argues the next wave of AI will be driven by video because real-world activity is captured in visual form.
3:15 PMPYMNTSAshton Kutcher is leaving Sound Ventures to start a new venture firm with Morgan Beller. The new fund is positioned to invest beneath top AI labs, targeting the infrastructure and energy systems that support large-scale AI.
2:47 PMTechCrunchVenice AI raised a $65 million Series A and reached unicorn status. CEO Erik Voorhees said the company is already profitable with annualized run-rate revenue above $70 million, driven by demand for a privacy-first AI platform.
10:25 AMTechCrunch11:58 PMBloomberg Markets
Headline's Zhu on Asia Tech Opportunities
Summary
Headline Growth partner Clarey Zhu says Asia offers major tech investing openings in AI infrastructure, deep tech, and robotics. She discusses where she sees near term momentum while speaking at the IVS2026 conference in Kyoto.
Why it matters
If this shift holds, Asia becomes a key battleground for the next wave of AI buildout and robotics, changing where venture dollars and strategic partnerships concentrate.
4:17 PMBloomberg Markets
Golden Seeds Looks to Close the Gender Gap in Startup Investments
Summary
Golden Seeds has surpassed $200 million invested in women-led companies, as its CEO says early-stage conditions for women founders have shifted. The firm is emphasizing scalable tech businesses and green technology as investor priorities.
Why it matters
Early-stage capital is still scarce, and changing investor filters determine which women-led startups reach the growth stage at all.
3:15 PMPYMNTS
Twelve Labs Raises $100 Million to Fund Bet on Video AI
Summary
Twelve Labs raised $100 million to pursue AI models and products built around video understanding rather than text. The company argues the next wave of AI will be driven by video because real-world activity is captured in visual form.
Why it matters
If video AI becomes dependable, it unlocks new enterprise automation across security, media, retail, and industrial operations, and it changes the cost and data moat required to compete.
2:47 PMTechCrunch
Ashton Kutcher leaving Sound Ventures to launch new VC firm with Morgan Beller
Summary
Ashton Kutcher is leaving Sound Ventures to start a new venture firm with Morgan Beller. The new fund is positioned to invest beneath top AI labs, targeting the infrastructure and energy systems that support large-scale AI.
Why it matters
The move signals where some AI-driven venture dollars are going next: away from frontier labs and into the constrained physical systems that determine AI’s cost and scale.
10:25 AMTechCrunch
Venice AI becomes a unicorn with $65M Series A as its privacy-first AI platform takes off
Summary
Venice AI raised a $65 million Series A and reached unicorn status. CEO Erik Voorhees said the company is already profitable with annualized run-rate revenue above $70 million, driven by demand for a privacy-first AI platform.
Why it matters
If privacy can reliably monetize in AI, it rewrites product strategy and defensibility from model quality to data-handling guarantees.
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