Microsoft invests $1.5 billion in UAE AI firm G42, forming partnership and training fund

From Investing.com: 2024-04-16 01:41:06

Microsoft will invest $1.5 billion in UAE-based AI firm G42, gaining a minority stake and a board seat. They will provide advanced AI solutions to global clients using Microsoft’s Azure platform. The partnership aims to bring AI and digital infrastructure to the Middle East, Central Asia, and Africa.

G42 and Microsoft are working together to establish a $1 billion fund to train developers in AI skills in the UAE and beyond. The deal is part of U.S. efforts to counter China’s technological advances by restricting exports. G42 is ending its relationship with Chinese businesses, including Huawei telecom equipment to address security concerns.



Read more at Investing.com: Microsoft to invest $1.5 billion in Emirati AI firm G42, takes minority stake By Reuters