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Microsoft to invest $1.5 billion in Emirati AI firm G42

Economic Times

Economic Times · 1y ago

Microsoft to invest $1.5 billion in Emirati AI firm G42

Microsoft is reportedly investing $1.5 billion in G42, an artificial intelligence company based in the United Arab Emirates. This move comes as G42 divested its investments in China and is removing Chinese hardware from its operations due to US concerns. The partnership will allow G42 to use Microsoft's cloud services and sell AI services that utilize powerful AI chips. The agreement also includes measures to protect shared AI products and remove Chinese equipment from G42's operations. Microsoft President Brad Smith will join G42's board as part of the deal.

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Microsoft to invest $1.5 bln in Emirati AI firm G42, New York Times reports

Reuters · 1y ago

Microsoft to invest $1.5 bln in Emirati AI firm G42, New York Times reports

Microsoft plans to invest $1.5 billion in G42, an AI firm in the UAE, according to the New York Times. The partnership will involve G42 using Microsoft's cloud services and adhering to a security arrangement negotiated with the US government. This move comes as G42 divests from Chinese investments and removes Chinese hardware from its operations. The agreement also includes protections for AI products and Microsoft President, Brad Smith, will take a seat on G42's board. Neither Microsoft nor G42 have commented on the investment.

Abu Dhabi-based G42 to double data centre capacity in India

Economic Times

Economic Times · 11m ago

Abu Dhabi-based G42 to double data centre capacity in India

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.

US Republican lawmakers concerned over Microsoft-G42 AI deal, letter says

Economic Times

Economic Times · 1y ago

US Republican lawmakers concerned over Microsoft-G42 AI deal, letter says

Republican lawmakers are seeking an intelligence briefing from the Biden administration regarding Microsoft's $1.5 billion investment in artificial intelligence firm G42, based in the United Arab Emirates (UAE). Their concerns stem from the transfer of sensitive technology and G42's connections to China. The lawmakers requested the briefing prior to advancing the deal's second phase. G42 and Microsoft have yet to comment on the matter. The US is considering export controls on AI technology due to national security risks. The UAE and China have existing scientific research ties. The request also mentions G42's past digital surveillance work and its associations with Huawei and DarkMatter, which were involved in cyber espionage activities.

Microsoft's $1.5B check for G42 shows growing US-China rift

TechCrunch · 1y ago

Microsoft's $1.5B check for G42 shows growing US-China rift

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.

US lawmakers raise worries about China in Microsoft deal with Emirati AI firm G42

VCCircle

VCCircle · 1y ago

US lawmakers raise worries about China in Microsoft deal with Emirati AI firm G42

US lawmakers have expressed concerns about Microsoft's $1.5 billion investment in artificial intelligence (AI) firm G42. They are worried about the transfer of sensitive technology and G42's ties to China, urging the Biden administration for an intelligence assessment. Republican lawmakers want a briefing on the deal before it progresses to involve the transfer of export-restricted semiconductor chips and model weights. They have also raised concerns about the lack of regulations around the export of sensitive AI models and the potential for companies like G42 to share technology with US adversaries like China.

Trump announces $20 billion investment in US data centres

Economic Times

Economic Times · 7m ago

Trump announces $20 billion investment in US data centres

US president-elect Donald Trump announced a $20 billion investment to establish data centers across the U.S., in collaboration with Emirati billionaire Hussain Sajwani, chairman of DAMAC Properties. This move aligns with the global trend of tech giants accelerating data center development for AI applications requiring substantial computing power. Microsoft, for instance, plans to invest $80 billion this fiscal year in AI capacity. McKinsey estimates that global data center spending could surpass $250 billion by 2030.

Microsoft to invest $1.5 billion in UAE AI firm

Livemint

Livemint · 1y ago

Microsoft to invest $1.5 billion in UAE AI firm

Microsoft Corp. has announced a $1.5 billion investment in G42, a technology company backed by the United Arab Emirates (UAE). This partnership includes an intergovernmental agreement to ensure the security of artificial intelligence (AI) as the US and China compete for influence in the Gulf. The deal signifies a pivot for the UAE towards Washington, as its ties with China have strained relations with the US in recent years. The partnership aims to develop a skilled AI workforce in the UAE and create a $1 billion fund for developers.

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

VCCircle

VCCircle · 1y ago

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

Microsoft has announced a $1.5 billion investment in UAE-based AI company G42, becoming a minority stakeholder with a seat on the board. The partnership aims to deliver advanced AI solutions to global public sector clients and large enterprises, using Microsoft's cloud computing platform Azure. The firms will also collaborate to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa. Additionally, a $1 billion fund will be established to support AI skill development in the UAE and the broader region. The collaboration comes amidst US efforts to restrict China's technological advances.

Abu Dhabi targets $100 billion AUM for AI investment firm

Economic Times

Economic Times · 1y ago

Abu Dhabi targets $100 billion AUM for AI investment firm

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.

US tech giants strike major AI deals amid Trump’s tour

YourStory

YourStory · 3m ago

US tech giants strike major AI deals amid Trump’s tour

During his Gulf tour, President Trump facilitated $600 billion in US-Middle East AI and defense deals. Nvidia and AMD announced partnerships to supply AI chips and collaborate on infrastructure with Saudi-backed firms. Cisco allied with UAE's G42, while Saudi Arabia's DataVolt plans US AI investments. US firms like Google and Oracle will invest $80 billion in emerging technologies. A $142 billion defense deal was also signed, marking a strategic economic and security collaboration.

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