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 (1)-LZIs2uJP7q.jpg "Microsoft president Brad Smith and G42 CEO Peng Xiao (right) sign the $1.5bn AI investment deal in the presence of G42 chairman Sheikh Tahnoon bin Zayed Al Nahyan")
G42, a prominent artificial intelligence (AI) technology holding company based in the United Arab Emirates (UAE), has secured a $1.5 billion investment from Microsoft Corp.
Microsoft announced the investment in G42 via a press release, posted on the company's official website on Monday.
According to Microsoft, the investment will fuel joint efforts between both companies and will allow them to leverage cutting-edge AI technologies in skill development initiatives, not only in the UAE but also in other regions across the globe.
Following the collaboration, Brad Smith, Vice Chair and President of Microsoft, will assume a position on the G42 Board of Directors.
By harnessing the capabilities of Microsoft Azure, G42 intends to run its AI applications and services while partnering with Microsoft to deliver advanced AI solutions to global public sector clients and large enterprises.
Furthermore, the collaboration aims to extend advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa, ensuring equitable access to essential services while upholding the highest standards of security and privacy.
Chairman of G42, H.H. Sheikh Tahnoon bin Zayed Al Nahyan reacting to the collaboration expressed enthusiasm about Microsoft's investment.
He described it as a pivotal moment for the company's growth and innovation emphasizing the shared values and aspirations for progress that underpin the strategic partnership between the two organizations.
“Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and innovation, signifying a strategic alignment of vision and execution between the two organizations. This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally," Nahyan noted.
A key aspect of the collaboration involves fostering a skilled and diverse AI workforce through a $1 billion investment in a development fund for developers. This initiative aims to drive innovation and competitiveness in the UAE and the broader region.
Brad Smith, Microsoft Vice Chair and President, highlighted the joint commitment to promoting safe, trusted, and responsible AI, in collaboration with the governments of both the UAE and the United States.
“Our two companies will work together not only in the UAE but to bring AI and digital infrastructure and services to underserved nations,” said Smith.
“We will combine world-class technology with world-leading standards for safe, trusted, and responsible AI, in close coordination with the governments of both the UAE and the United States," he concluded.
The commercial partnership is reinforced by assurances to both governments through a groundbreaking agreement aimed at ensuring secure and responsible AI development and deployment.
Peng Xiao, Group Chief Executive Officer of G42, emphasized that Microsoft's strategic investment will advance the delivery of cutting-edge AI technologies at scale, elevating G42's international market presence and setting new industry standards for innovation.
Xiao said, “Through Microsoft’s strategic investment, we are advancing our mission to deliver cutting-edge AI technologies at scale. This partnership significantly enhances our international market presence, combining G42’s unique AI capabilities with Microsoft’s robust global infrastructure. Together, we are not only expanding our operational horizons but also setting new industry standards for innovation.”
Samer Abu-Ltaif, Microsoft Corporate Vice President and President of Central and Eastern Europe, Middle East and Africa, hailed the partnership as a testament to the vibrant tech landscape in the UAE and the broader region.
He expressed confidence that the collaboration would unlock opportunities for customers and partners, accelerate innovation, and fuel economic growth.
