Agreement is latest move by US tech group to extend its reach into fast-growing sector
Microsoft has agreed to invest $1.5 billion in Abu Dhabi artificial intelligence group G42, its latest big bet on the technology that underscores deepening collaboration between the US and United Arab Emirates. Photograph: Michael M. Santiago/Getty Imagesgroup G42, its latest big bet on the technology that underscores deepening collaboration between the US and United Arab Emirates.
“Given the importance of the technology and given how important it is to the two countries and two governments, we’ve taken this first step in close collaboration with the governments of both the UAE and the United States,” Smith said. “We will take the next step and following steps in close collaboration with them as well.
“Microsoft’s large investment is not something we do without a lot of thought,” Smith added. “And this decision reflects confidence by our company in the UAE as a country, in G42 as a company, and in Peng as its CEO.” AI leaders have been increasingly drawn to Abu Dhabi by its grand plans and deep pockets. It recently launched an investment company dedicated to AI deals, called MGX.
Satya Nadella, Microsoft’s chief executive, regards AI dominance as critical to getting ahead of rivals, and a way to eat into arch-rival Google’s dominance in search.
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