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Microsoft to invest USD 1.5 billion in UAE-based AI firm: Details

Microsoft is set to invest in an AI company based in UAE. The tech giant is planning to invest in G42 company whihc will testament by sharing values and aspirations for progress, fostering greater cooperation.

Edited By: Saumya Nigam @snigam04 New Delhi Published on: April 16, 2024 16:41 IST
Microsoft
Image Source : FILE Microsoft

Microsoft has announced an investment of around USD 1.5 billion in the UAE-based artificial intelligence (AI) technology company, named G42. It was announced on Tuesday that both companies will support the establishment of a USD 1 billion fund for the developers.

The investment is said to strengthen the collaboration on bringing the latest Microsoft AI technologies which have been skilling initiatives to the UAE and other countries around the world.

As part of the partnership, Brad Smith, Vice Chair and President of Microsoft will join the G42 Board of Directors, the companies said in a statement.

H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42 said, "This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally.”

Both the companies- G42 and Microsoft will be working together to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa.

Smit said, "We will work together not only in the UAE but to bring AI and digital infrastructure and services to underserved nations.”

He further added, "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 US.”

Following the establishment of Microsoft’s AI organization including Copilot, the tech player announced the opening of a new artificial intelligence hub which will be based in London (the United Kingdom). The strategic move highlights the commitment of the tech giant to driving innovation in AI tech.

Microsoft further announced its plans to unbundle Teams from its Office 365 and Microsoft 365 suites. The decision was made amid an antitrust investigation which was taken ahead by the European Union (EU). The decision surfaced as a response to the EU's scrutiny over potential anticompetitive behaviour.

Inputs from IANS

 

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