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Abu Dhabi-backed technology investor MGX is looking east for data center assets as the UAE capital’s deep pockets become central to the global AI buildout. The fund is an investor in the BlackRock-backed AI Infrastructure Partnership, which together with Australia’s IFM Investors is in exclusive talks for Stack Infrastructure’s Asia Pacific data centers, a portfolio expected to be valued at as much as $25 billion, Bloomberg reported. Stack, owned by US alternative asset manager Blue Owl Capital, has sites in Australia, Japan, and Malaysia. The potential deal comes as Oracle invoked force majeure at another Blue Owl-backed US data center — part of the Stargate venture to build AI infrastructure — after permitting delays held up efforts to bring power to the site. Oracle, the project’s anchor tenant, said the development remains on schedule, and Blue Owl said the notice does not change its financial commitments. MGX is also a backer of the $500 billion Stargate venture; the first 250 megawatts of a Stargate cluster in Abu Dhabi is expected to be completed this year.
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