The UAE's MGX Fund is considering acquiring data center operator DayOne for billions of dollars.

Abu Dhabi's MGX is weighing a multi-billion dollar acquisition of DayOne, a data centre operator. The deal represents a significant capital deployment toward expanding data centre capacity in the region.

MGX's potential investment underscores the Middle East's growing role in global AI infrastructure development. As Gulf-backed funds and operators accelerate buildout of computing facilities, particularly to support AI workloads, such acquisitions signal confidence in sustained demand for data centre resources.

The transaction, if completed, would add operational data centre assets to MGX's portfolio, positioning Abu Dhabi as an increasingly consequential hub in the distributed landscape of AI compute infrastructure competing with established North American and European providers.