UAE-based AI Firm G42 Secures $1.5Bn Investment from Microsoft
American tech giant Microsoft has invested a mammoth $1.5 billion in G42, an Abu Dhabi-based AI technology holding company, for a minority stake.
The funding builds on a strategic partnership between both companies to bring Microsoft’s AI technologies and skilling initiatives to the UAE and other countries around the world.
As part of this expanded partnership, Brad Smith, vice chair and president of Microsoft, will join the G42 board of directors.
Through the investment and partnership, G42 aims to position the UAE as a “global AI hub”. It will also run all its AI applications and services on Microsoft Azure and partner to deliver advanced AI solutions to global public sector clients and large enterprises.
The pair will also work together to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa, providing these nations with “equitable access” to services to address important governmental and business concerns while ensuring the “highest standards” of security and privacy.
Backed by assurances to both countries’ governments to adhere to best practices and ensure the “responsible development” of AI, both companies will also work jointly to “elevate” the security and compliance framework of their joint international infrastructure.
“Our two companies will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations,” Smith said.
“We will combine world-class technology with world-leading standards for safe, trusted, and responsible AI, in close coordination with the governments of both the UAE and the United States.”
“This partnership significantly enhances our international market presence, combining G42’s unique AI capabilities with Microsoft’s robust global infrastructure,” added Peng Xiao, group CEO of G42. “Together, we are not only expanding our operational horizons but also setting new industry standards for innovation.”