MGX sits at the intersection of the three largest structures in the atlas. It is one of the initial equity funders of Stargate alongside SoftBank, OpenAI and Oracle, a program targeting $500 billion of US AI infrastructure investment over four years with $100 billion deployed immediately, beginning in Texas. It is a founding partner of the AI Infrastructure Partnership ($30 billion equity, up to $100 billion with debt) and a co-acquirer of Aligned Data Centers at a $40 billion enterprise value, closed July 21, 2026, covering 51 campuses and 6.4GW. It also participated in xAI's $6 billion Series C.
Named sites
0
Site commitments on record for MGX
Disclosed site capital
n.a.
Named sites with a stated dollar figure. A floor, not a capex total
Disclosed capacity
n.a.
Named sites with a stated megawatt figure
Financing transactions
6
Transactions naming MGX or one of its sites
Sources
16
Every cited page, listed below
Market
MGX is a pension or sovereign investor with no traded shares.
Spending
Reported and guided spending
No reported or guided spending line is on record for MGX. Its position shows in the sites, transactions and facts below.
Named sites
Where MGX builds
No named site commitment is on record for MGX as of October 25, 2026. That is normal for pension and sovereign wealth: the capital shows in the transactions below rather than on a site of its own.
Financing
Financing transactions
Transactions that name MGX as a party or attach to one of its named sites. Amounts are as stated, and overlapping commitments are never summed.
| Parties | Instrument | Amount | Date | Site | Sources |
|---|---|---|---|---|---|
OpenAI + SoftBank + Oracle + MGX Stargate launched as a new company intending to invest $500 billion over four years building new AI infrastructure for OpenAI in the United States, starting in Texas, with SoftBank, OpenAI, Oracle, and MGX as initial equity funders. |
platform | ≥$500B | January 2025 |
n.a. |
|
AIP + MGX + BlackRock GIP + Macquarie Asset Management (seller) + Macquarie Asset Management + Aligned Data Centers The largest North American data center transaction of the period, covering a platform of 6.4GW across 51 locations. Macquarie Asset Management led the sale as exiting sponsor. |
acquisition | ≥$40.0B | announced October 16, 2025; closed July 21, 2026 |
n.a. |
|
MGX + BlackRock + Kuwait Investment Authority + Temasek + Nvidia + xAI + Microsoft + AI Infrastructure Partnership + GIP MGX is a founding partner of the AI Infrastructure Partnership (AIP), seeking $30 billion of equity scaling to up to $100 billion including debt financing. Kuwait Investment Authority joined in June 2025 and Temasek made an anchor investment at the October 2025 initial closing. |
platform | $30.0B | n.a. in source; KIA joined June 2025, Temasek anchored October 2025 initial closing |
n.a. |
|
xAI + A16Z + Blackrock + Fidelity Management & Research Company + Kingdom Holdings + Lightspeed + MGX + Morgan Stanley + OIA + QIA + Sequoia Capital + Valor Equity Partners + Vy Capital xAI closed its Series C funding round of $6 billion with participation from key investors, bringing its total funding to date over $12 billion. |
equity raise | ≥$6.0B | 23 December 2024 |
n.a. |
|
Aligned Data Centers + AI Infrastructure Partnership + MGX + Global Infrastructure Partners After closing the $40 billion acquisition of Aligned from Macquarie Asset Management, the AIP, MGX and GIP consortium plans to invest $5 billion in the company, primarily to expand capacity. Aligned has more than 6.4 GW of operational and planned capacity across the Americas, according to the report |
equity raise | ~$5.0B | Reported by Bloomberg 21 July 2026, via The Real Deal |
n.a. |
|
SoftBank + OpenAI + Oracle + MGX SoftBank, OpenAI, Oracle, and MGX are the initial equity funders in the Stargate Project, with OpenAI and SoftBank each reported at a 40% stake. |
jv equity | n.a. | Announced January 2025 |
n.a. |
The record
Sourced facts on MGX
- MGX is one of the initial equity funders of Stargate, alongside SoftBank, OpenAI and Oracle, a program targeting $500 billion of investment in US AI infrastructure over four years with $100 billion deployed immediately, beginning in Texas.
- MGX is a founding partner of AIP, seeking $30 billion of equity scaling to up to $100 billion including debt financing.
- MGX is a co-acquirer of Aligned Data Centers at $40 billion enterprise value, closed July 21, 2026, covering 51 campuses and 6.4GW.
- MGX participated in xAI's $6 billion Series C.
- SoftBank's Stargate disclosures cite more than $400 billion of investment over three years across five new US sites totalling nearly 7 gigawatts, plus an additional $22.5 billion SoftBank investment in OpenAI completed Dec. 26.
- No other single investor appears in the equity stack of the largest lab programme, the largest sponsor consortium and the largest platform acquisition simultaneously.
Sources
Sources for MGX
Every source cited on this page, once each.
- openai.comOpenAI
- group.softbankSoftBank Group
- esgdive.comESG Dive
- infrastructureinvestor.comInfrastructure Investor
- aligneddc.comAligned
- macquarie.comMacquarie
- blackrock.comBlackRock
- reuters.comReuters
- ropesgray.comRopes & Gray
- reuters.comReuters
- x.aixAI Series C
- en.wikipedia.orgWikipedia: SpaceXAI
- therealdeal.comThe Real Deal
- dmagazine.comD Magazine
- reuters.comReuters
- techinformed.comTechInformed
Pension and sovereign wealth
More in the Index
ADIA (Abu Dhabi Investment Authority)CalPERSCDPQ / La CaisseCPP Investments (CPPIB)GICKuwait Investment AuthorityMubadalaOntario Teachers' Pension Plan (OTPP)PSP InvestmentsQatar Investment AuthorityTemasek
Capital figures come from the Capital Atlas, refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so each figure appears as its source states it and none are added into a single deployment number. Informational, not investment advice.
Sources
The SAVRN reference set
Seven references, one system
Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.
Capital Atlas
Who is funding AI data centers: capital providers, named sites, financing transactions, and the blocked-and-delayed record, state by state and company by company.
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Delay Watchlist
Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.
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Moratorium Tracker
The policy layer: every state measure and local moratorium mapped and cited, with one page per state.
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Water Tracker
Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.
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Grid Operator Watchlist
ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize.
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Permits and Power Development
Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records.
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SAVRN Scarcity Tracker
Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling.
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Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding.
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