(MENAFN) Abu Dhabi-based artificial intelligence and cloud company G42 has secured a significant USD1.5 billion-investment from Microsoft, marking a pivotal moment in its journey towards global expansion. This substantial investment will not only fuel G42's growth but also solidify the UAE's status as a prominent technology hub on the global stage.
In addition to the financial injection, the extended partnership between G42 and Microsoft will see the establishment of a USD1 billion fund dedicated to supporting developers.
"Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and innovation, signifying a strategic alignment of vision and execution between the two organisations," Sheikh Tahnoun bin Zayed, the Deputy Ruler of Abu Dhabi and the chairman of G42, expressed these sentiments.
As part of this initiative, which also aims to enhance AI infrastructure and capabilities in underserved nations, Brad Smith, Vice Chairman and President of Microsoft, will become a member of G42's board of directors.
"The partnership between G42 and Microsoft is expected to benefit the UAE and the region by providing access to advanced generative AI capabilities, expanding data centre infrastructure, supporting the development of a skilled AI workforce, driving innovation and competitiveness for businesses and positioning the UAE as a leader in AI technology," a G42 spokesperson informed a UAE-based news agency.
The UAE is striving to establish itself as a leading force in global artificial intelligence (AI) and is actively embracing cutting-edge technologies to prepare for the future economy and society.
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