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Abu Dhabi Is Said to Weigh Reviving AIQ Share Sale Amid AI Boom

Mar 07, 2025 - financialpost.com
Abu Dhabi's state oil firm, ADNOC, and data analytics company Presight AI Holding Plc are considering reviving plans to list their artificial intelligence joint venture, AIQ, amid a surge in interest in AI. Early-stage talks have been held, and firms have been invited to pitch for roles in the potential listing. AIQ, valued at $1.4 billion as of May, is majority owned by Presight, which is part of G42, an AI-focused company under Sheikh Tahnoon bin Zayed Al Nahyan. The listing could happen as soon as this year, although no final decisions have been made regarding the size or timing.

AIQ collaborates with Microsoft and G42 to develop software aimed at enhancing efficiency in the energy industry. ADNOC, AIQ's main customer, plans to use AI applications to expedite seismic surveys and streamline field development and well drilling. This move aligns with Abu Dhabi's broader strategy to establish itself as an AI superpower in the Gulf. The potential listing would add to a series of new share sales in the UAE, which raised over $6 billion in 2024.

Key takeaways:

  • Abu Dhabi's state oil firm and Presight AI Holding Plc are considering reviving plans to list their AI joint venture, AIQ, amid a surge in AI interest.
  • AIQ was valued at $1.4 billion as of May, with Presight acquiring a majority stake as part of a shareholder reorganization.
  • AIQ is collaborating with Microsoft and G42 to develop AI software aimed at improving energy industry efficiency.
  • The potential listing of AIQ is part of a broader trend of new share sales in the UAE, with over $6 billion raised in 2024.
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