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G42

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Latest G42 DevelopmentsAI Insights

G42 forms a critical part of the UAE's effort to bolster its artificial intelligence sector through significant partnerships and investments. The company is a founding partner of MGX, an AI-focused investment vehicle collaborating with Abu Dhabi's sovereign wealth fund Mubadala1.

Sheikh Tahnoon bin Zayed Al Nahyan, UAE's national security adviser, initiated discussions with the US government to relax restrictions on advanced semiconductor exports, which are vital for G42's technological pursuits2.

Aside from governmental negotiations, G42 divested its Chinese holdings to focus more on advanced US technologies through its partnership with Microsoft5.

This alignment enables G42 to enhance its AI capabilities domestically, positioning itself as a significant player in UAE's ambition to become a global data centre hub3. G42 also partnered with Microsoft and UAE's Core42 to establish a sovereign cloud, furthering Abu Dhabi's vision to digitalise all government services.

Through its affiliation with MGX, G42 commits to investments not only in AI infrastructure but also in semiconductors and core AI technologies, focusing on building robust AI ecosystems4. This strategic positioning allows G42 to participate in high-profile projects, such as the Stargate artificial intelligence programme.

G42 Overview

Group 42 Holding, known as G42, is focused on artificial intelligence (AI) development across various industries including government, healthcare, finance, oil and gas, aviation and hospitality.

Its brands include healthtech company M42, the Presight analytics platform, Khazna data centres and Core42, which runs cybersecurity, infrastructure and digital professional services.

In 2020 state-owned Mubadala Investment Company took a stake in the company, and then in 2021 US private equity firm Silver Lake invested $800 million for a minority stake.

Since then G42 has been involved in numerous partner projects with some of the world’s leading tech brands.

In October 2023 it announced a partnership with OpenAI, the AI research and deployment company responsible for ChatGPT, to develop AI in the UAE and regional markets.

In February 2024 G42’s $10 billion technology investment arm 42XFund (set up in 2022 with ADQ‘s Abu Dhabi Growth Fund) announced that it would sell all of its stakes in Chinese companies. This included TikTok owner ByteDance, in which it had invested an estimated $100 million.

Two months later G42 revealed that US tech giant Microsoft would invest $1.5 billion to help accelerate its global expansion strategy. As part of the deal G42 will run its AI applications and services on Azure, Microsoft’s cloud computing platform.

Also in April 2024 G42’s subsidiary Bayanat set up Space42, the world’s most valuable publicly listed space company, in a partnership with Yahsat (Al Yah Satellite Communications Company).

G42 News

Ali Osman, chief investment officer at MGX

Abu Dhabi AI chief bullish over future investment

Investment in artificial intelligence is at “a crossroads” as the build-out of underlying infrastructure, such as data centres, demands trillions of dollars more in capital, according to Abu Dhabi’s technology fund MGX. Ali Osman, MGX’s chief investment officer for AI, said on Friday that he remains optimistic about “tremendous” growth in this space even amid […]

Programming, data center and a man with a laptop for maintenance, cyber security and internet check

Khazna builds data centres to plug UAE capacity shortage

State-controlled Khazna, the UAE’s largest data centre operator, has started building two new facilities to support the federation’s digital and artificial intelligence (AI) growth as the Gulf state grapples with a capacity shortage.  Originally owned by Abu Dhabi’s Mubadala sovereign wealth fund, Khazna was in 2022 transferred to the emirate’s G42 and e&, the national […]

Presight provides AI tools for city management and more. Its expansion targets include Southeast and Central Asia

Presight plans international expansion of its AI business

Abu Dhabi is stepping up efforts to expand its artificial intelligence and digital services business as part of a billion-dollar push to diversify its economy. Presight, a data analytics company backed by Abu Dhabi-owned AI group G42, is planning to nearly double its overseas revenue as a share of the total. The company, which is […]

Gulf data centres will need to look beyond hydrocarbon fuel sources to renewables, experts say

Gulf urged to add more to its data centre offerings

Data centres are big business across the Gulf. But experts say the industry faces some major challenges: developing value-added goods and services, increasing research and development funding and identifying the right energy mix to power them. Sales in the GCC data centre market were worth nearly $3.5 billion last year, according to estimates by Research […]

Cerebras founders Sean Lie, Gary Lauterbach, Michael James, Jean-Philippe Fricker and Andrew Feldman. Abu Dhabi's G42 is about to invest $335m in the company

UAE-backed Cerebras passes US security check before IPO

Cerebras Systems has cleared a US government review into its ties to the UAE’s G42, a spokesperson for the US artificial intelligence company told AGBI on Monday. The positive conclusion of the probe by the Committee on Foreign Investment in the United States (CFIUS) is expected to pave the way for the California-based company’s long-awaited […]

The new investors will help accelerate Khazna’s global expansion plans, said CEO Hassan Alnaqbi

MGX buys stake in Dubai’s Khazna Data Centers

UAE technology investment company MGX and US private equity company Silver Lake have bought a minority stake in Dubai-based Khazna Data Centers. Following the deal, UAE telecommunications company e& – formerly known as Etisalat – has exited from its investment in Khazna but remains a major business partner, Khazna said in a statement. Transaction and financial […]

Cerebras G42

Cerebras IPO still in limbo over US fears on Abu Dhabi stake

Worries in the United States over a stake by an Abu Dhabi company in Cerebras Systems, the US chipmaker, are continuing to leave its IPO in limbo, five sources familiar with the matter said. The sticking point for California-based Cerebras is the review by the Committee on Foreign Investment in the United States (CFIUS) of […]

People, Person, Adult

UAE and US leaders discuss economy and tech tie-ups

Sheikh Tahnoon bin Zayed Al Nahyan, Abu Dhabi’s deputy ruler and UAE national security advisor, met US President Donald Trump at the White House on Tuesday, holding talks on economic and technological cooperation. “Discussions included ways for our countries to increase our partnership for advancing our economic and technological futures,” Trump said in a Truth Social […]

UAE microchips Sheikh Tahnoon bin Zayed al Nahyan

Sheikh Tahnoon to lobby US to ease UAE microchip controls

The UAE’s national security adviser, Sheikh Tahnoon bin Zayed Al Nahyan, is to travel to Washington to try to convince the Trump administration to ease export controls on advanced semiconductors. Sheikh Tahnoon, the brother of the UAE’s president, will press US cabinet officials for easier access for the UAE to American technology and discuss further […]

Binance CEO Richard Teng said the company is committed to partnering with global regulators to "establish transparent, responsible, and forward-thinking policies for the crypto industry"

MGX makes $2bn crypto investment in Binance

UAE technology investment company MGX has invested $2 billion-worth of stablecoins into Binance, the world’s largest exchange for digital tokens by trading volume and users, according to a statement. Binance said on Wednesday that acquisition of a minority stake in MGX is the “biggest-ever” injection of funds into a crypto company, the largest investment ever […]