Abu Dhabi artificial intelligence group G42 is set to receive a massive $1.5 billion investment from Microsoft in its latest foray into the field.
The $1.5 billion deal between Microsoft and G42 will make the former a minority shareholder in G42, while also giving Microsoft vice chairman and president Brad Smith a seat on the company’s board of directors, the Financial Times reported. I will do it. This comes after G42 cut ties with Chinese hardware companies and other US companies deepened ties with UAE-based companies.
Abu Dhabi is rapidly becoming an AI hub, with the establishment of the AI and Advanced Technology Council in January 2023. US companies in Silicon Valley are increasingly treating the UAE as a trusted technology investor.
“The two companies will work together to bring AI and digital infrastructure and services to underserved countries, not just the UAE,” Smith said in a statement. “We will work closely with the governments of both the UAE and the United States to combine world-class technology and world-leading standards for safe, reliable and responsible AI.”
Exchange one investment partner for another
The Financial Times also questioned G42 chief executive Peng Xiao whether the deal with Microsoft was brokered in return for cutting ties with China, and Mr Smith said He directly mentioned the deal on behalf of the close relationship.
“I want to focus on our decision to form this partnership with Microsoft to truly develop our capabilities on a global scale. Don’t focus,” Peng Xiao replied.
As part of the deal, G42 will use Microsoft’s cloud computing platform Azure to build and deploy AI services to customers. In future stages, the two could work together to build data centers in other countries and establish a $1 billion fund for budding AI developers.
“Microsoft’s huge investment is not something we would make without thinking,” Smith added. “And this decision reflects our confidence in the UAE as a country, the G42 as a company and Penn as CEO.”
Featured image: Ideograms
