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Microsoft to invest USD 1.5 billion in UAE-based tech firm G42

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G42 will operate its AI services and apps on Microsoft Azure as part of a partnership to provide cutting-edge solutions to major corporations and clients in the public sector throughout the world

To provide the newest artificial intelligence (AI) solutions and skill-building programmes, multinational IT giant Microsoft has agreed to invest USD 1.5 billion in G42, a technology business based in the United Arab Emirates.

According to a news release, Brad Smith, vice chair and president of Microsoft, will join the board of directors of the Emirati company and G42 will give the American company a minority ownership as part of the agreement. G42 will operate its AI services and apps on Microsoft Azure as part of a partnership to provide cutting-edge solutions to major corporations and clients in the public sector throughout the world.

Smith declared, “Our two companies will collaborate to offer AI and digital infrastructure and services to underdeveloped nations, in addition to the UAE. We will integrate cutting-edge technology with industry-leading standards for safe, dependable, and responsible AI, in close collaboration with the governments of the United States and the United Arab Emirates.”

The companies will work together to provide cutting-edge artificial intelligence (AI) and digital infrastructure to countries in the Middle East, Central Asia, and Africa. This will guarantee fair access to services that address important business and governmental issues while maintaining the highest standards of security and privacy.

Tahnoon bin Zayed Al-Nahyan, chairman of G42, said, “Microsoft’s investment in G42 marks a key point in our company’s journey of growth and innovation, reflecting a strategic alignment of vision and execution between the two businesses. This relationship fosters better cooperation and synergy globally, since it is a tribute to our shared ideals and goals for growth.”

The agreement also includes a USD 1 billion investment in a developer fund, to support the development of a diverse and competent AI workforce, as well as promoting innovation and competitiveness for the United Arab Emirates and the surrounding area.

Through the combination of Microsoft’s strong worldwide infrastructure and G42’s distinctive AI capabilities, this cooperation considerably expands our market footprint internationally. Peng Xiao, group CEO of G42, stated, “Together, we are not only broadening our operating boundaries but also establishing new industry norms for innovation.”

According to the press release, this increased cooperation will enable businesses of all sizes to make use of cloud computing and artificial intelligence (AI) while making sure that the AI they use complies with the highest safety and security requirements worldwide.

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