Microsoft Invests $1.5 Billion In Abu Dhabi's G42 To Accelerate AI Development, Global Expansion
Date
4/16/2024 2:45:28 PM
(MENAFN- Khaleej Times) G42, the leading UAE-based artificial intelligence (AI) technology holding company, and Microsoft on Tuesday announced a $1.5 billion strategic investment by Microsoft in G42.
The investment will strengthen the two companies' collaboration on bringing the latest Microsoft 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.
This expanded collaboration will empower organisations of all sizes in new markets to harness the benefits of AI and the cloud while ensuring they are adopting AI that adheres to world-leading standards in safety and security.
Building on the two organisations' long-standing collaboration in AI and digital transformation initiatives, Microsoft's investment deepens the reciprocal commitment to this strategic partnership. G42 will run its AI applications and services on Microsoft Azure and partner to deliver advanced AI solutions to global public sector clients and large enterprises.
G42 and Microsoft 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.
Sheikh Tahnoon bin Zayed Al Nahyan, chairman of G42, said:“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. This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally.”
The partnership will also support the development of a skilled and diverse AI workforce and talent pool that will drive innovation and competitiveness for the UAE and broader region with the investment of $1B in a development fund for developers.
“Our two companies will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations,” said Smith.“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.”
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