Abu Dhabi AI investor MGX seeks to acquire Singapore-based DayOne
Business
Abu Dhabi's AI investment firm MGX is looking to buy Singapore-based DayOne, marking its first big step into Asia.
The deal is not final yet, but it is part of MGX's push to grow its global presence in AI and tech.
DayOne plans $20B US IPO
DayOne runs data centers across Asia and Europe and has been planning a US initial public offering targeting a valuation of $20 billion.
MGX, which was set up with Mubadala and G42 as its founding partners, has already put money into big names like OpenAI and TikTok's US arm.
If this deal goes through, it could boost both MGX's rapid expansion plans and the UAE's ambitions in tech, though DayOne might still choose to go public instead.