Microsoft’s $1.5 Billion Investment in G42 Accelerates AI Development and Global Expansion
ABU DHABI, UAE – In an exciting development, Microsoft has announced a strategic investment of $1.5 billion in Abu Dhabi-based AI technology company G42. This investment aims to boost AI development and global expansion efforts, marking a significant milestone in the collaboration between the two tech giants.
Collaboration for Innovation
The partnership between Microsoft and G42 will focus on bringing cutting-edge AI technologies and skilling initiatives to the UAE and other countries worldwide. This collaboration will empower organizations across various sectors to leverage AI and cloud technologies while adhering to the highest standards of safety and security.
Chairman’s Statement
H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42, expressed his enthusiasm for the strategic investment, highlighting the alignment of vision and execution between the two companies. This partnership reflects a shared commitment to progress and global cooperation, setting a new standard for innovation in the tech industry.
Focus on Skilled Workforce
One of the key aspects of the partnership is the investment of $1 billion in a development fund for developers, aiming to cultivate a skilled and diverse AI workforce. This initiative is expected to drive innovation and competitiveness in the UAE and the broader region, shaping the future of AI technology.
Global Impact
Microsoft’s Vice Chair and President, Brad Smith, emphasized the collaboration’s global reach, stating that the companies will work together to bring advanced AI and digital infrastructure to underserved nations. The focus on safe, trusted, and responsible AI deployment aligns with international best practices and regulatory standards.
Strategic Agreement
The commercial partnership between Microsoft and G42 is underpinned by an Intergovernmental Assurance Agreement (IGAA), ensuring compliance with US and international laws and regulations. This agreement reinforces the commitment to security, responsible AI development, and business integrity, setting a precedent for future collaborations in the tech industry.
Promising Future
With Microsoft’s strategic investment, G42 is poised to advance its mission of delivering cutting-edge AI technologies at scale. The collaboration between the two companies aims to accelerate innovation, empower customers and partners, and fuel economic growth in the tech landscape of the UAE and beyond.
