Microsoft invests $1.5 billion in UAE-based AI company G42
The investment will strengthen collaboration on bringing the latest Microsoft AI technologies and skilling initiatives to the UAE and other countries around the world.
Microsoft (Reuters)
NEW DELHI: Microsoft on Tuesday announced a $1.5 billion investment in the UAE-based artificial intelligence (AI) technology company, G42.
Both companies will also support the establishment of a $1 billion fund for developers.
The investment will strengthen collaboration on bringing the latest Microsoft AI technologies and skilling initiatives to the UAE and other countries around the world.
As part of this partnership, Brad Smith, Vice Chair and President of Microsoft, will join the G42 Board of Directors, the companies said in a statement.
"This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally," said H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42.
G42 and Microsoft will also work together to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa.
"We 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 US," he added.