The tech giant Microsoft, on Tuesday, said it will invest $1.5 billion in G42, an AI company, with an aim to co-innovate and deliver AI solutions along with Microsoft Azure for various industries and markets across the Middle East, Central Asia and Africa.
The firm said the investment looks to acquire a minority stake in the UAE-based company and Brad Smith, President of Microsoft, will assume a position on G42’s board of directors.
Earlier this week, Microsoft said it will invest $2.9 billion in Japan, and the investment will be initiated over the next two years to increase its hyper-scale cloud computing and AI infrastructure in Japan.
The collaboration includes an agreement that assures both the United States and UAE’s governments to ensure secure, trusted and responsible development and AI deployment, said the firm. Both companies will work to comply with U.S. and international trade, security, responsible AI, and business integrity laws and regulations, added Microsoft.
In the year 2023, G42 and Microsoft collaborated and announced a multifaceted plan to make available sovereign cloud offerings, co-innovate and deliver advanced AI capabilities, and expand the existing data center infrastructure in the UAE.
The firm said it will support the development of a skilled and diverse AI workforce also talent pool that will drive innovation as well as competitiveness for the UAE and broader region with the investment of $1 billion in a fund for developers.
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