Tech giant Microsoft (MSFT: NSD) has struck a deal to acquire a minority stake in G42, the United Arab Emirates (UAE) top artificial intelligence (AI) firm. The $1.5 billion investment underscores Microsoft’s ambition to solidify its presence in the flourishing Middle Eastern AI market.
Collaboration to Drive Innovation:
This strategic partnership will combine Microsoft’s Azure cloud platform and AI expertise with G42’s advanced AI solutions. The collaboration aims to accelerate innovation across various sectors in the UAE and the broader region.
Microsoft Gains Board Seat:
The agreement also grants Microsoft a seat on G42’s board of directors. Brad Smith, Microsoft’s Vice Chair and President, will represent the tech giant. This move signifies a deepening of the existing partnership between the two companies.
Bottom Line:
The investment comes amidst G42’s efforts to diversify its partnerships and reduce its reliance on China. This collaboration with Microsoft positions G42 to become a major player in the global AI landscape.
