Tuesday, 02 January 2024 12:17 GMT

UAE 'Ahead Of Schedule' To Invest $1.4 Trillion In US, Says Business Council


(MENAFN- Khaleej Times) The UAE is currently ahead of schedule on the pledge it made last year to invest $1.4 trillion in the US by 2035, the US-UAE Business Council said Thursday.

A statement issued by the Council added that the UAE is moving“full speed ahead” in executing its AI strategy despite regional tensions, and that the country has more than doubled down on this commitment.

Recommended For You

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

Last month, the Council confirmed that the UAE invested over $100 billion in the US in the past year.

This was announced following a meeting in the US attended by Khaldoon Al Mubarak, managing director and group CEO of Mubadala; Talal Al Kaissi, CEO of Core42; and David Scott, chief strategy and safety officer at MGX.

During US President Donald Trump's visit to the UAE last year, the UAE announced plans to invest $1.4 trillion in different sectors across the US market over the next 10 years.

UAE and US officials also discussed the five-gigawatt AI Campus, sovereign cloud, data centers, trusted technology deployment, and strategic investment as increasingly central pillars of US-UAE cooperation.

Despite regional tensions following the US-Israel-Iran war, the discussion reflected continued confidence in the UAE as a safe, stable, and resilient platform for long-term investment, technology deployment, and commercial partnership.

During the meeting, participants noted the enormous capital intensity of AI infrastructure and the growing role of UAE investment platforms in supporting both domestic AI buildout and US-based digital infrastructure. Officials also highlighted that the UAE and its partners have collectively committed to construct 5.7 GW of new compute capacity in the United States, alongside major investments in platforms such as Vantage Data Centers, GlobalFoundries, the AI Infrastructure Partnership, and leading AI companies such as OpenAI.

“The simplest way I can describe the UAE is that we build strategic infrastructure before the rest of the world agrees that it is urgent,” Al Kaissi said.

“The way you win the AI race is by having your technology diffused deeply around the world, so that it becomes the incumbent technology everyone uses. The network effects and stickiness that follow are what make it the dominant technology,” Scott said.

During the meeting, officials stressed that AI has emerged as a defining pillar of the bilateral relationship, building on decades of cooperation in energy, defense, trade, and investment. The UAE has made a strategic decision to“bet big on the US AI stack.”

Last month, the UAE received the first batch of next-generation US AI chips under a strategic partnership.

ALSO READ
    UAE a 'great American ally', says US official as first AI chips delivered UAE bets on Artificial Intelligence supremacy to power digital future UAE tops global AI adoption rankings as workplace usage crosses 70%

MENAFN04062026000049011007ID1111209955



Khaleej Times

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.

Search