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News on Medial
Abu Dhabi-based G42 to double data centre capacity in India
Economic Times
·
11m ago
Medial
Abu Dhabi-based company G42 aims to build two gigawatt AI-ready data centres in India, doubling the nation's existing capacity. The move is part of a memorandum of understanding (MoU) between the UAE and Indian governments to co-develop sovereign AI. G42 will invest in the project and has recently unveiled NANDA, a AI model trained on 2.13 trillion tokens in Hindi and English. G42 has partnerships with major technology firms and is backed by Emirati sovereign wealth fund Mubadala. The company plans to establish a unique end-to-end sovereign AI ecosystem in India.
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Related News
Former Xiaomi exec Manu Jain becomes the India CEO of Abu Dhabi-based AI firm G42
IndianStartupNews
·
1y ago
Medial
Abu Dhabi-based AI firm, G42, has appointed Manu Kumar Jain, former Xiaomi India CEO, as its India CEO to lead the expansion of the company in the Indian market. G42 aims to become a global leader in AI and is focused on industries such as government, healthcare, finance, oil and gas, aviation, and hospitality. Jain will explore partnership opportunities to enhance G42's AI ecosystem in India. G42 raised over $800 million in funding and recently released Jais, an Arabic large language model developed in collaboration with Mohamed bin Zayed University of Artificial Intelligence and Cerebras Systems.
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Abu Dhabi's G42 invests in edge computing and AI start-up Analog at WEF launch
Startup News FYI
·
1y ago
Medial
G42, an Abu Dhabi-based AI and cloud computing firm, has invested in Analog, a new edge computing and AI start-up. Analog aims to develop AI-powered solutions in edge computing to enhance the speed and efficiency of individuals and businesses. It will utilize edge computing to create an interconnected relationship between people, locations, and objects, delivering custom solutions for various sectors. G42 is the biggest investor in Analog and plans to focus on edge computing AI in its portfolio. Analog's unique proposition is its ability to capture and use real-world data.
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AI added $500 million of extra value in 2023: Abu Dhabi Oil Company
Economic Times
·
1y ago
Medial
Abu Dhabi National Oil Company (ADNOC) has announced that it generated an additional $500 million in value in 2023 through the integration of over 30 artificial intelligence tools across its operations. The AI tools were used from field operations to corporate decision-making, resulting in improved efficiency and prevented up to 1 million tons of carbon dioxide emissions. ADNOC is focusing on integrating AI further to future-proof its business and maximize value from its assets. The company utilized tools developed by AIQ, a joint venture with Abu Dhabi-based company G42, to optimize processes and drive automation.
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Microsoft-backed G42 partners with Mistral AI to build AI platforms and infrastructures
YourStory
·
2m ago
Medial
Abu Dhabi-based G42 and French startup Mistral AI have partnered to develop next-generation AI platforms and infrastructure. Announced at the Choose France summit, this collaboration reflects a new era of cross-regional AI cooperation championed by UAE's President Sheikh Mohamed and France's President Macron. Combining G42’s infrastructure and solutions expertise with Mistral AI’s large language models, the alliance aims to innovate AI applications across Europe, the Middle East, and the Global South, while promoting mutual technological growth globally.
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OpenAI teams up with Cisco, Oracle to build UAE data center | TechCrunch
TechCrunch
·
2m ago
Medial
OpenAI has announced the expansion of its Stargate data center project to Abu Dhabi, UAE, with the launch of a 1GW data center cluster, Stargate UAE. Slated to go live in 2026, this initiative involves collaboration with partners like G42, Oracle, Nvidia, Cisco, and SoftBank. This marks the first venture under OpenAI's "OpenAI for Countries" initiative, aiming to build sovereign AI capabilities in alignment with the U.S. OpenAI’s technology, including ChatGPT, will be accessible nationwide in the UAE.
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India's data centre capacity to double to 2,000 MW by 2026
Economic Times
·
1y ago
Medial
India's data centre capacity is projected to double to 2,000 MW by 2026. This growth is fueled by the country's shift towards becoming a developed market economy and an increase in 'green energy' solutions. The data centre industry is expected to experience a revenue growth of 32% between FY24 and FY26. Despite India generating about 20% of global data, its data centre capacity currently only accounts for 3%. However, the wave of digitization and the expansion of e-commerce, fintech platforms, online streaming, and gaming services in India are expected to drive a robust demand for data centres.
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Microsoft's $1.5B check for G42 shows growing US-China rift
TechCrunch
·
1y ago
Medial
Microsoft has announced a $1.5 billion investment in G42, an Abu Dhabi-based artificial intelligence company. The funding will give Microsoft a minority stake in G42 and a seat on the board of directors. The move comes as the UAE seeks to position itself as a global leader in AI and draws closer to China, causing concerns for US politicians. The deal highlights the strategic positioning of both countries in the midst of rising geopolitical tensions. The partnership also grants Microsoft extensive market access to the region and the opportunity to implement its AI and Azure solutions across various industries.
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Abu Dhabi targets $100 billion AUM for AI investment firm
Economic Times
·
1y ago
Medial
Abu Dhabi is establishing a technology investment firm called MGX, led by Mubadala Investment Co. and G42, targeting deals in AI and semiconductors. The company plans to manage over $100 billion in assets in the coming years. MGX will pursue partnerships in AI infrastructure, semiconductors, and AI core technologies and applications. The firm will be chaired by UAE National Security Adviser Sheikh Tahnoon bin Zayed Al Nahyan, with Mubadala CEO Khaldoon Al Mubarak as vice chairman. G42 has been involved in AI initiatives and partnerships, including collaboration with OpenAI.
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General Atlantic planning to open office in Abu Dhabi
VCCircle
·
10m ago
Medial
General Atlantic, a New York-based private equity firm, plans to open an office in Abu Dhabi by the end of the year, according to sources. The firm has received preliminary approval for a license to operate in the Abu Dhabi Global Market. The final approval is expected to be granted by the end of 2024. General Atlantic's move follows other asset managers and hedge funds that have set up in the UAE capital's financial centre, attracted by opportunities to deepen relationships with sovereign wealth funds. General Atlantic is being supported by asset manager Mubadala Capital.
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OpenAI to help UAE develop one of world's biggest data centres
Economic Times
·
2m ago
Medial
OpenAI is set to assist in developing a massive data centre in the United Arab Emirates, planned to be one of the largest globally, according to Bloomberg News. The centre, reportedly a 5-gigawatt campus in Abu Dhabi, has OpenAI as a primary anchor tenant, though this is not finalized. A formal announcement is anticipated soon. The project aligns with the UAE's recent agreement with the US to establish the largest AI campus outside the United States.
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