Company Insights G42 Artificial Intelligence Latest G42 DevelopmentsAI Insights G42, an artificial intelligence (AI) company in the UAE, has been actively expanding its capabilities and partnerships. Recently, the United States approved the export of advanced AI chips to the UAE, specifically for use by G42 in collaboration with Microsoft1. The approval follows Microsoft's investment of more than 1.5 billion dollars in G42, as both companies plan to advance responsible AI practices. They will establish two AI centres in Abu Dhabi to promote AI innovation and address key societal goals2. G42 has invested strategically in the development of AI hardware and infrastructure. Earlier, it acquired chips from Cerebras Systems for a supercomputer crucial to developing large language models, aiming to challenge Nvidia's dominance in this domain3. Additionally, during UAE President Sheikh Mohamed bin Zayed Al Nahyan's visit to the US, discussions with tech giants like Microsoft, BlackRock, and Nvidia reaffirmed the UAE's commitment to becoming a global hub in advanced technology, including AI4. The company's partners include UAE sovereign wealth fund Mubadala and US private equity firm Silver Lake, and it plays a significant role in global AI initiatives. G42 is also a founding partner in the Global AI Infrastructure Investment Partnership, a project which may raise up to 100 billion dollars to build data centres and bolster energy infrastructure worldwide5. 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). Later in 2024 G42 announced it had formed a partnership with US computer chip giant Nvidia to set up a climate tech laboratory in Abu Dhabi, aimed at better predicting the weather using AI. G42 News Analysis Trade Tariffs and tech on the UAE’s radar as Trump takes office When billionaire developer Hussain Sajwani appeared on stage with Donald Trump earlier this month to announce $20 billion worth of investment in US data centres, he did not hide his glee about the Republican’s return to the White House. The chairman of UAE-based Damac Properties called Trump’s re-election in November “amazing news” and said his […] January 17, 2025 Tech UAE space company launches earth-monitoring craft Space42, a space technology company that has its headquarters in Abu Dhabi, deployed the second phase of its Foresight satellite constellation on Tuesday as the UAE continues its push to compete with the world’s leaders in the industry. The project is in collaboration with ICEYE, a provider of high-resolution images of the earth’s surface. The […] January 15, 2025 Analysis Artificial Intelligence Tighter US chip rules offer challenges and opportunities Only 18 countries on approved list No Middle East countries among them Not all bad news say observers Despite fierce industry opposition, the White House on Monday further tightened the government’s grip on exports from the US of advanc... Register now: It’s easy and free This content is available for registered members only. Register for […] January 14, 2025 Artificial Intelligence Middle East wary of US AI chip export rules The US government’s proposed new rule to control global access to its artificial intelligence chips has ignited widespread debate, and has implications for the Middle East’s AI ecosystem. The “Export Control Framework for Artificial Intelligence Diffusion” would restrict exports of US-made AI chips in the hopes of curbing China’s military advancements using the technology. However, […] January 9, 2025 Analysis Tech China-US tech tensions threaten GCC telecom strategy High-tech restrictions Great power 'rivalry' Gulf states face risks Gulf countries risk being dragged into the great power “rivalry” between China and the United States when it comes to advanced technology, forcing them to pick a side. ... Register now: It’s easy and free This content is available for registered members only. Register for your […] January 2, 2025 Telecoms Space42 bags $5bn contract from UAE government Space42, a global space technology company based in Abu Dhabi, has signed an AED18.7 billion ($5.1 billion) contract with the UAE government to provide critical, secure satellite communication services for an additional 17 years beyond 2026 until 2043. Under the contract, the Abu Dhabi-listed company, a subsidiary of UAE company G42, will provide satellite capacity […] December 17, 2024 Artificial Intelligence US clears export of advanced AI chips to UAE The US has approved the export of advanced computer chips used for artificial intelligence to the UAE, reports indicate. Under the agreement the UAE will allow exports to a Microsoft-operated facility for use by Emirati state-backed AI company G42. Microsoft has invested more than $1.5 billion in G42 and holds a minority stake and board […] December 9, 2024 Video length: 03:43 VIDEO Tech Funding squeeze stifles AI innovation in Mena Emerging technology and AI startups in the Mena region are struggling to find investors. Industry experts say that the Middle East attracts less than 5 percent of global funding for AI because of the lack of specialised venture capital funds that are willing to take risks. “Our region lags behind the rest of the world […] November 25, 2024 Opinion Tech The UAE could be squeezed in a US-China tech tussle Emirates would prefer to keep its options open, but Trump might make that impossible November 18, 2024 Artificial Intelligence Sales of Nvidia stock soar in UAE in record rally As Nvidia’s stock market value hit $3.65 trillion on Thursday to make it the world’s most valuable company, so shares are in hot demand among retail investors in the Gulf. The Californian chipmaker overtook Apple, which previously held the record for the highest closing market capitalisation at $3.57 trillion on October 21. “It’s our most […] November 8, 2024 Posts navigation 1 2 … 8 Next
Analysis Trade Tariffs and tech on the UAE’s radar as Trump takes office When billionaire developer Hussain Sajwani appeared on stage with Donald Trump earlier this month to announce $20 billion worth of investment in US data centres, he did not hide his glee about the Republican’s return to the White House. The chairman of UAE-based Damac Properties called Trump’s re-election in November “amazing news” and said his […] January 17, 2025
Tech UAE space company launches earth-monitoring craft Space42, a space technology company that has its headquarters in Abu Dhabi, deployed the second phase of its Foresight satellite constellation on Tuesday as the UAE continues its push to compete with the world’s leaders in the industry. The project is in collaboration with ICEYE, a provider of high-resolution images of the earth’s surface. The […] January 15, 2025
Analysis Artificial Intelligence Tighter US chip rules offer challenges and opportunities Only 18 countries on approved list No Middle East countries among them Not all bad news say observers Despite fierce industry opposition, the White House on Monday further tightened the government’s grip on exports from the US of advanc... Register now: It’s easy and free This content is available for registered members only. Register for […] January 14, 2025
Artificial Intelligence Middle East wary of US AI chip export rules The US government’s proposed new rule to control global access to its artificial intelligence chips has ignited widespread debate, and has implications for the Middle East’s AI ecosystem. The “Export Control Framework for Artificial Intelligence Diffusion” would restrict exports of US-made AI chips in the hopes of curbing China’s military advancements using the technology. However, […] January 9, 2025
Analysis Tech China-US tech tensions threaten GCC telecom strategy High-tech restrictions Great power 'rivalry' Gulf states face risks Gulf countries risk being dragged into the great power “rivalry” between China and the United States when it comes to advanced technology, forcing them to pick a side. ... Register now: It’s easy and free This content is available for registered members only. Register for your […] January 2, 2025
Telecoms Space42 bags $5bn contract from UAE government Space42, a global space technology company based in Abu Dhabi, has signed an AED18.7 billion ($5.1 billion) contract with the UAE government to provide critical, secure satellite communication services for an additional 17 years beyond 2026 until 2043. Under the contract, the Abu Dhabi-listed company, a subsidiary of UAE company G42, will provide satellite capacity […] December 17, 2024
Artificial Intelligence US clears export of advanced AI chips to UAE The US has approved the export of advanced computer chips used for artificial intelligence to the UAE, reports indicate. Under the agreement the UAE will allow exports to a Microsoft-operated facility for use by Emirati state-backed AI company G42. Microsoft has invested more than $1.5 billion in G42 and holds a minority stake and board […] December 9, 2024
Video length: 03:43 VIDEO Tech Funding squeeze stifles AI innovation in Mena Emerging technology and AI startups in the Mena region are struggling to find investors. Industry experts say that the Middle East attracts less than 5 percent of global funding for AI because of the lack of specialised venture capital funds that are willing to take risks. “Our region lags behind the rest of the world […] November 25, 2024
Opinion Tech The UAE could be squeezed in a US-China tech tussle Emirates would prefer to keep its options open, but Trump might make that impossible November 18, 2024
Artificial Intelligence Sales of Nvidia stock soar in UAE in record rally As Nvidia’s stock market value hit $3.65 trillion on Thursday to make it the world’s most valuable company, so shares are in hot demand among retail investors in the Gulf. The Californian chipmaker overtook Apple, which previously held the record for the highest closing market capitalisation at $3.57 trillion on October 21. “It’s our most […] November 8, 2024
