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Alpha Dhabi Holding PJSC signed an agreement to commit $1 billion, or approximately AED 3.67 billion, to Alpha Wave III, the Abu Dhabi-based investment company said in a statement. The commitment provides diversified exposure to artificial intelligence companies through the fund managed by Alpha Wave Global and remains subject to applicable regulatory approvals. Alpha Dhabi intends to fund the investment from recycling of its cash distributions from Alpha Wave Ventures II together with existing resources. The financial impact will be recognised over time as capital is deployed and the fund’s underlying investments perform.
The commitment builds directly on Alpha Dhabi’s participation in Alpha Wave Ventures II, according to the statement from the group listed on the Abu Dhabi Securities Exchange under ticker ALPHADHABI. That earlier fund delivered indirect exposure to companies including SpaceX, OpenAI and Anthropic, a Zawya press release distributed on October 26, 2026 reported. Alpha Wave Ventures II was launched by Chimera Capital and Alpha Wave Global and closed its second round at $10 billion in January 2022 targeting three to five times returns, Middle East AI News figures show.
Hamad Al Ameri, managing director and group chief executive officer of Alpha Dhabi Holding, said in the statement, “Our USD 1 billion commitment to Alpha Wave III builds on our participation in Alpha Wave Ventures II and broadens Alpha Dhabi’s access to artificial intelligence and innovation-led opportunities.” Al Ameri added that the investment supports the group’s portfolio diversification objectives and its focus on long-term value creation. He noted that the step also reflects Alpha Dhabi’s disciplined approach to allocating capital to opportunities that can create enduring value for shareholders.
Alpha Wave III will invest globally in artificial intelligence and high-growth businesses developing and applying transformative technologies, the Alpha Dhabi statement indicated. The fund follows an experimental Alpha Wave Incubation vehicle started in 2019, according to a Middle East AI News overview published on October 26, 2026. Alpha Wave Global, which manages about $29 billion in assets across private equity, private credit, public markets and insurance, became majority-owned by Abu Dhabi’s Judan Financial in March 2026, Reuters data shows.
Gulf investors have increased allocations to artificial intelligence despite analyst concerns over valuations that could lead to a sector bubble bursting next year, an AGBI report from October 26, 2026 found. In May 2022 Alpha Dhabi committed AED 9.2 billion to the predecessor Alpha Wave Ventures II fund, company disclosures reviewed by AGBI confirm. The latest commitment underscores Abu Dhabi’s continued emphasis on technology-driven diversification, according to the group’s statement.
Value from the Alpha Wave III investment is expected to be realised through distributions and exits over the fund’s life, the October 26, 2026 statement from Alpha Dhabi said. The group described the commitment as aligned with its strategy of pursuing innovation-led opportunities that deliver sustainable shareholder returns. Alpha Dhabi Holding operates as a diversified investment company with interests spanning multiple economic sectors in the UAE and beyond.
