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G42

All articles tagged with #g42

technology1 year ago•4 min saved

"Microsoft's $1.5B Investment in G42 Deepens US-China Tech Divide"

Microsoft's $1.5 billion investment in G42, an Abu Dhabi-based AI company, signals the growing rift between the U.S. and China as the UAE becomes a strategic battleground. The investment reflects the delicate balance the UAE is navigating between the two superpowers, with G42 caught in the middle. The deal also highlights concerns over G42's ties with Chinese firms and its potential access to sensitive U.S. technologies. In return, Microsoft gains extensive market access to the region and a partnership to implement its AI business and Azure across various industries. This move underscores the increasing difficulty for tech companies and countries to remain neutral in the escalating U.S.-China tech war.

via TechCrunch|

#artificial-intelligence #g42 #microsoft

businesstech1 year ago•2 min saved

"Microsoft's $1.5 Billion Investment in Emirati AI Firm G42 Signals High-Stakes Tech Play"

Microsoft is investing $1.5 billion in UAE-based AI firm G42, acquiring a minority stake and a board seat, with the two companies deepening ties amid global tech competition. The deal includes assurances to the US and UAE governments over security, with G42 using Microsoft cloud services for its AI applications. The partnership comes amidst US concerns over Chinese technological advances and ties between China and the Gulf states. The investment marks a strategic alignment between the two organizations and aims to bring advanced AI and digital infrastructure to the Middle East, Central Asia, and Africa.

via Reuters|

#ai #businesstech #g42

technology1 year ago•4 min saved

"Microsoft's $1.5 Billion Investment Accelerates AI Development at Abu Dhabi's G42"

Microsoft has invested $1.5 billion in G42, an Abu Dhabi-based AI technology holding company, to accelerate AI development and global expansion. This strategic partnership aims to bring Microsoft's AI technologies and skilling initiatives to the UAE and other countries, while ensuring the adoption of AI adheres to world-leading standards in safety and security. The collaboration includes Microsoft's Vice Chair and President, Brad Smith, joining the G42 Board of Directors, as well as the establishment of a $1 billion fund for developers. Additionally, both companies have committed to an Intergovernmental Assurance Agreement to ensure the secure, trusted, and responsible development and deployment of AI.

via Microsoft|

#ai #collaboration #g42

technology1 year ago•0 min saved

"Microsoft's $1.5 Billion Investment in G42 Signals Major AI Partnership in UAE"

Microsoft is investing $1.5 billion in G42, the top artificial intelligence firm in the United Arab Emirates, as the company shifts its focus away from China. The investment will involve Microsoft President Brad Smith joining G42's board and G42 using Microsoft's Azure cloud for its AI applications. The partnership, developed in consultation with the UAE and US governments, aims to bolster G42's commitment to scaling back its presence in China.

via Bloomberg|

#artificial-intelligence #cloud-computing #g42

business1 year ago•2 min saved

"Microsoft's $1.5 Billion Investment in G42 Signals Major Move in UAE's AI Sector"

Microsoft plans to invest $1.5 billion in G42, an Emirati artificial intelligence company with ties to China, in a move orchestrated by the Biden administration to counter China's tech influence in the Gulf region. The deal allows G42 to sell Microsoft services using powerful A.I. chips, while G42 will use Microsoft's cloud services and adhere to a security arrangement negotiated with the U.S. government. This investment reflects the U.S. government's concern about safeguarding intellectual property in A.I. programs and aims to reduce G42's ties with China, potentially serving as a model for U.S. firms to counter Chinese tech influence.

via The New York Times|

#artificial-intelligence #business #china

business2 years ago•0 min saved

UAE's G42 Acquires $100M ByteDance Stake at $220B Valuation.

Abu Dhabi-based AI firm G42, controlled by UAE royal Sheikh Tahnoon bin Zayed Al Nahyan, has acquired a stake worth over $100 million in ByteDance through its 42XFund, valuing the company at around $220 billion. This is a significant discount to the $300 billion valuation set by TikTok's owner during a recent share buyback program. Another fund also bought into ByteDance at a $225 billion valuation shortly after.

via Bloomberg|

#abu-dhabi #business #bytedance