Microsoft announced on Tuesday that it would invest $1.5 billion in a leading artificial intelligence (AI) firm in the United Arab Emirates (UAE). The announcement, posted on the firm’s official blog, said that the Redmond, Washington-based tech firm had closely coordinated with the governments of both companies. The deal comes when global powers are moving forward to stamp their authority on AI’s current and future emergence in multiple industries.
Microsoft, the world’s top company by market cap, noted that the investment in the Abu Dhabi-based G42 would accelerate the development of AI and its expansion globally, making the UAE a global AI hub. The US tech giant mentioned that Brad Smith, Microsoft’s Vice Chair and President, will join the G42 Board of Directors.
According to the Microsoft site, Brad Smith said that both companies “will combine world-class technology with world-leading standards for safe, trusted, and responsible AI, in close coordination with the governments of both the UAE and the United States.”
Microsoft and G42 have collaborated over the past year on AI solutions, cloud capabilities on Microsoft’s Azure public cloud platform, and more.
In November 2023, Microsoft said that G42’s Jais Arabic Large Language Model was available on the tech company’s “new Azure AI Cloud Model-as-a-Service offering.”
Bloomberg reported that G24 had quietly made a deal with the US government to decouple itself from China, following which it struck a deal with Microsoft—the Times reported that Microsoft would be allowed to audit G24’s use of its technology. The US tech giant would also protect its technology regarding Chinese gear and more.
CWEB analysts have always said Microsoft stock is strong and its value will rise over the years due to its pioneering and multi-billion-dollar investments in AI and cloud-based services. The Tuesday agreement, with approval from both the US and UAE governments, reinforces the strength of the stock and future growth potential.
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