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Press Dossier    By Date   17/04/2024 Microsoft to invest $1.5bn in UAE-based AI firm G42

Arab News, Wed, Apr 17, 2024 | Shawwal 8, 1445

​​Microsoft to invest $1.5bn in UAE-based AI firm G42

Emirates: Global tech giant Microsoft will invest $1.5 billion in the UAE-based artificial intelligence technology company G42, aiming to offer the latest AI solutions and skilling initiatives.      

As part of the deal, G42 will grant the US firm a minority stake and Brad Smith, Microsoft’s vice chair and president, will join the Emirati firm’s board of directors, according to a press release.  

G42 will utilize Microsoft Azure to run its AI applications and services, partnering to deliver advanced solutions to global public sector clients and large enterprises.

Smith said: “Our two companies will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations.”     

He added: “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.”    

The companies will collaborate to bring advanced AI and digital infrastructure to nations in the Middle East, Central Asia, and Africa, ensuring equitable access to services to address critical governmental and business concerns, while upholding high levels of security and privacy, the release added. 

“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 organizations,” said Tahnoon bin Zayed Al-Nahyan, chairman of G42.     

“This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally,” he added.   

The agreement also encompasses a $1 billion investment in a fund for developers, which aims to bolster the creation of a skilled and diverse AI workforce, as well as foster innovation and competitiveness for the UAE and the broader region. 

“This partnership significantly enhances our international market presence, combining G42’s unique AI capabilities with Microsoft’s robust global infrastructure. Together, we are not only expanding our operational horizons but also setting new industry standards for innovation,” said Peng Xiao, group CEO of G42. 

The release stated that this expanded collaboration will empower organizations of all sizes in new markets to harness the benefits of AI and the cloud, while ensuring they adopt AI that adheres to world-leading standards in terms of safety and security.

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