UAE’s Mubadala and Qatar’s wealth fund, along with Japan’s SoftBank and Singapore’s Temasek, have been named as part of a global consortium participating in a US‑led investment fund to support growth and innovation in artificial intelligence, energy projects, critical minerals and semiconductors.

“The consortium announced with Mubadala, Temasek, and SoftBank will be at the centre of deployment of capital at scale or allocate capital in ways that are commercially viable and more cohesive to a supply chain strategy,” Jacob Helberg, Undersecretary for Economic Affairs at the US State Department, said at the at the Hill and Valley Forum in Washington DC.

Helberg added that policies of the consortium will focus on a pro-innovation agenda on artificial intelligence, with projects including mineral processing plants, railways and highways, as the US pushes ahead in dealmaking to a backdrop of competing with China.

Helberg also mentioned the US will also focus on energy security following supply chain disruptions in the Strait of Hormuz stemming from the four-week US-Iran conflict.

The investment fund is linked to the Pax Silica global initiative launched last year by US President Donald Trump.

While details of the Abu Dhabi sovereign wealth fund's investment have not been revealed, the New York Times first disclosed the US will contribute $250 million to the investment fund, with a potential $1 trillion total investment being planned.

Other member states included in the consortium are sovereign wealth funds from Qatar, and Sweden, according to NYT.

(Writing by Bindu Rai, editing by Seban Scaria)

bindu.rai@lseg.com