Abu Dhabi AI Firm to Pare Back China Presence in Pivot to US
Feb 12, 2024 - bloomberg.com
Abu Dhabi-based artificial intelligence firm G42 is reducing its presence in China and plans to invest in key Western markets. This move is aimed at alleviating US concerns over the company's connections to Beijing. G42 CEO Peng Xiao stated in an interview that all of the company's previous investments in China have been divested, eliminating the need for any physical presence in the country.
The focus of G42 now is to deploy capital in the US and other Western markets. This strategic shift comes as the company seeks to expand its global footprint while navigating geopolitical sensitivities.
Key takeaways:
Abu Dhabi’s G42 is reducing its presence in China and plans to invest in key Western markets.
The move is aimed at easing US concerns over the artificial intelligence firm’s ties to Beijing.
All of G42's China investments that were previously made have already been divested, according to CEO Peng Xiao.
As a result, G42 no longer needs any physical presence in China.
