Microsoft will invest $1.5 billion in AI developer from the UAE – Kommersant

Microsoft announced on expanding strategic cooperation with Emirati artificial intelligence (AI) developer G42. The American corporation will invest $1.5 billion in its partner, receiving a minority stake. At the same time, Microsoft President Brad Smith will join the G42 board of directors.

As part of the partnership, G42 will be able to run its AI-powered applications and services on the Microsoft Azure cloud computing platform. Large enterprises and representatives of the public sector from all over the world should become clients of these services.

In addition, Microsoft and G42 intend to jointly co-found a fund to support developers from the UAE and other countries in the region working in the field of AI development. The volume of the fund will be $1 billion.

For Microsoft, the partnership with G42 marks another major investment in AI. Thus, Microsoft is the largest sponsor of OpenAI, into which it has invested tens of billions of dollars. Thus, at the end of March it became known about a joint data center project Stargate worth about $100 billion. Most of the costs of its creation, according to media reports, will be covered by Microsoft. The American corporation also invested in the French Mistral, recently hired most of the team from Inflection AI, and also announced plans invest $2.9 billion in the development of cloud infrastructure and artificial intelligence in Japan.

How the reporting of IT corporations disappointed investors – in material “Kommersant”.

Kirill Sarkhanyants