Microsoft Invests $1.5 Billion in Abu Dhabi’s G42 for AI Expansion
Microsoft is expanding its global presence in artificial intelligence (AI) through a strategic partnership and a $1.5 billion investment in G42, an AI tech holding company based in Abu Dhabi.
The investment, announced on April 16, aims to drive AI development and make cutting-edge technologies more accessible in the United Arab Emirates (UAE) and worldwide.
Under the partnership, G42 will utilize Microsoft’s AI computing platform Azure for its AI applications and services, extending advanced solutions beyond the UAE to clients in the global public sector and large enterprises.
Moreover, the investment seeks to enhance skill development in the UAE, fostering a diverse AI workforce and talent pool.
H.H. Sheikh Tahnoon bin Zayed Al Nahyan, G42’s chairman, considers this investment pivotal for the company’s growth.
Microsoft’s vice chair and president, Brad Smith, highlights the partnership’s commitment to addressing the needs of underserved regions globally, beyond the UAE.
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As part of the collaboration, Smith will join G42’s board of directors.
This investment adds to Microsoft’s series of billion-dollar commitments worldwide. Previously, the company pledged significant investments in AI infrastructure in Germany and Spain. More recently, Microsoft announced plans for a substantial, long-term investment in the U.K., aiming to recruit passionate innovators.
However, Microsoft faces competition in the AI landscape, notably from OpenAI, whose CEO, Sam Altman, is engaging with Fortune 500 executives to expand AI services and tap into new markets, setting the stage for competition with Microsoft.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
