Microsoft Invests $1.5 Billion in G42 as Top UAE AI Firm Pivots From China
Apr 16, 2024 - bloomberg.com
Microsoft Corp. is set to invest $1.5 billion in the United Arab Emirates’ leading artificial intelligence firm, G42. This move strengthens G42's commitment to reduce its presence in China. As part of the deal, Microsoft President Brad Smith will join G42’s board, and G42 will utilize Microsoft's Azure cloud for its AI applications.
The agreement, which expands an existing partnership between Microsoft and G42, was developed in consultation with the UAE and US governments. This was confirmed by Smith and G42 CEO Peng Xiao in an interview.
Key takeaways:
Microsoft Corp. is investing $1.5 billion in the United Arab Emirates’ top artificial intelligence firm, G42.
The investment supports G42's commitment to reduce its presence in China.
Microsoft President Brad Smith will join G42’s board, and G42 will use Microsoft's Azure cloud for its AI applications.
The agreement, which expands an existing partnership, was developed in consultation with the UAE and US governments.
