From Nasdaq Inc.: 2024-04-16 01:31:37

Microsoft Corp. is investing $1.5 billion in UAE-based AI technology holding company G42 to accelerate AI development and global expansion, enhancing the UAE’s position as an AI hub.

G42 will utilize Microsoft Azure for AI applications and services, partnering to deliver advanced solutions to global clients and enterprises.

The collaboration includes a $1 billion fund for developing a skilled AI workforce and talent pool in the UAE and beyond, promoting innovation and competitiveness.

Microsoft and G42 aim to provide AI technologies and skilling initiatives to new markets in the Middle East, Central Asia, and Africa, ensuring equitable access to secure, privacy-focused services.

The partnership commits to world-leading standards in AI safety and security, with plans to bring AI and digital infrastructure to underserved nations with close coordination between the UAE and US governments.

Microsoft plans to invest $2.9 billion in data centers in Japan by 2025 to boost its AI business, building on investments in OpenAI, known for developing the popular generative AI chatbot, ChatGPT.



Read more at Nasdaq Inc.: Microsoft To Invest $1.5 Bln In UAE’s AI Firm G42