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- Microsoft invests $1.5 billion in Abu Dhabi's G42 to accelerate AI development and global expansion
ABU DHABI, UAE and DALLAS, April 16, 2024 /PRNewswire/ -- G42, the UAE-based leading artificial intelligence (AI) technology holding company, and Microsoft today announced a $1.5 billion strategic investment from Microsoft in G42. The investment will strengthen the collaboration between both companies to bring Microsoft's latest AI technologies and training initiatives to the UAE and other countries around the world. As part of this expanded partnership, Brad Smith, vice president and president of Microsoft, will join the G42 Board of Directors.
This expanded collaboration will enable organizations of all sizes in new markets to leverage the benefits of AI and the cloud, while ensuring they are adopting AI that adheres to the world's leading standards for security.
Building on both organizations' long-standing collaboration on AI and digital transformation initiatives, Microsoft's investment deepens their mutual commitment to this strategic partnership. G42 will run its AI applications and services on Microsoft Azure and partner to deliver advanced AI solutions to global public sector and large enterprise customers. G42 and Microsoft will also work together to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia and Africa, providing these nations with equitable access to services to address important government and business concerns, while ensuring the most high security and privacy standards.
His Highness Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42, commented: "Microsoft's investment in G42 marks a pivotal moment in our company's growth and innovation journey, and signifies a strategic alignment of vision and execution between the two. organizations. This partnership is a testament to shared values and aspirations for progress, fostering greater cooperation and synergy globally."
The partnership will also support the development of a skilled and diverse workforce in the field of AI and a talent pipeline that will drive innovation and competitiveness of the UAE and the wider region, with the investment of 1 billion dollars in a development fund for developers.
"Our two companies will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations," said Brad Smith, vice president and president of Microsoft. "We will combine world-class technology with world-leading standards for safe, trustworthy and responsible AI, in close coordination with the governments of both the UAE and the United States."
The trade partnership is backed by assurances to both governments through a first-of-its-kind agreement to apply global best practices to ensure the safe, reliable and responsible development and deployment of AI. Microsoft and G42 will collaborate closely and elevate the security and compliance framework of their joint international infrastructure. Both companies will move forward with a commitment to comply with US and international laws and regulations regarding trade, security, responsible AI and business integrity. Work on these issues is governed by a detailed Intergovernmental Assurance Agreement (IGAA) between G42 and Microsoft that was developed in close consultation with the UAE and US governments.
Peng Xiao, CEO of G42, said: "Through Microsoft's strategic investment, we are advancing our mission to deliver cutting-edge AI technologies at scale. This partnership significantly enhances our international market presence, combining the unique capabilities of G42 AI with Microsoft's strong global infrastructure. Together, we are not only expanding our operational horizons, but also setting new standards for innovation in the industry.
Samer Abu-Ltaif, Microsoft Corporate Vice President and President of Central and Eastern Europe, Middle East and Africa, added: "Our investment in G42 is a testament to the thriving and dynamic technology landscape of the UAE and the wider region. This partnership strategic is well positioned to create opportunities for our customers and partners, accelerate innovation and drive economic growth. With G42, we will introduce cutting-edge technologies that will enable countries and markets to advance their digital agendas by harnessing the power of cloud and AI. ".
The collaboration between G42 and Microsoft has expanded through several milestones in the last year. This includes a joint plan announced in April 2023 to develop tailored AI solutions for the public sector and industry, leveraging Microsoft's extensive partner ecosystem and cloud capabilities. In September 2023, the companies signed an agreement to introduce sovereign cloud offerings and collaborate to unlock the potential of advanced AI capabilities on the Azure public cloud platform. Finally, in November 2023, Microsoft announced the availability of G42's Jais Arabic Large Language Model in the new Azure AI Cloud Model-as-a-Service offering.
About MicrosoftMicrosoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.
About G42G42 is a global leading technology holding company creating visionary artificial intelligence for a better tomorrow. Born in Abu Dhabi and present around the world, G42 champions AI as a powerful force for good in all sectors. From molecular biology to space exploration and everything in between, G42 is realizing exponential possibilities today. For more information, visit www.g42.ai
Media Contacts
For MicrosoftMicrosoft Media Relations, WE Communications for Microsoft, (425) 638-7777rapidresponse@we-worldwide.com
To G42Ulviyya Hasanzade, Director of Corporate Communications at G42ulviyya.hasanzade@g42.ai
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