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G42

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Latest G42 DevelopmentsAI Insights

G42 recently acquired a significant stake in Khazna, following e&'s decision to divest its 40 percent interest. MGX, a partnership between Mubadala Investment Company and G42, alongside Silver Lake, also entered the ownership structure. This acquisition signifies a step in G42's plans to accelerate Khazna's global expansion2.

Khazna is increasing its data centre capacity to address the region's digital and AI growth needs. The construction of new facilities in Mafraq and Masdar City is part of this strategic direction1.

Negotiations with the US regarding exporting advanced American semiconductors reflect ongoing efforts to align UAE's AI ambitions. Companies such as G42 are instrumental in creating agreements, which involve more significant investment from the US into Gulf AI and data infrastructure, amidst geopolitical intricacies3.

The company has been scrutinised under US regulations. G42 remains a key investor in Cerebras Systems, a US-based AI firm. The Committee on Foreign Investment in the United States (CFIUS) concluded its review of this relationship, thus paving the way for further technological integration4.

Sheikh Tahnoon bin Zayed Al Nahyan, who chairs G42, actively seeks to relax restrictions on semiconductor exports from the US. Appliance of such efforts affects the UAE's ability to bolster its AI infrastructure and partnerships with American firms5.

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

President Trump struck numerous deals over his three days in the Gulf

The multi-trillion dollar deals agreed on Trump’s trip

During his trip to the Gulf region from May 13 to 16, US president Donald Trump visited Saudi Arabia, Qatar and the UAE and announced a series of deals across a number of sectors, which, according to the White House, added up to nearly $2.5 trillion. Artificial intelligence Saudi Arabia’s newly-established AI developer Humain said […]

Italy and the UAE are partnering to develop a major AI centre in Italy

Italy and UAE announce deal on AI centre

Italy and the United Arab Emirates have agreed to develop an artificial intelligence centre in Italy, industry minister Adolfo Urso said on Friday. Abu Dhabi-based AI group G42 has entered into a partnership with Italian company iGenius to build “the largest AI computing infrastructure in Europe”, Urso’s ministry said in a statement. G42 will be […]

Donald Trump was greeted by Sheikh Mohamed bin Zayed Al Nahyan at Qasr Al Watan

UAE and US to build largest AI campus outside America

The US and UAE will develop a 10 square mile artificial intelligence campus in Abu Dhabi, according to a White House statement on Thursday. It will be the largest such facility outside of America. The announcement came as US President Donald Trump met UAE President Sheikh Mohamed bin Zayed Al Nahyan at the Qasr Al […]

Nvidia CEO Jensen Huang

US ‘to let UAE import millions of Nvidia’s AI chips’

The US has a preliminary agreement with the United Arab Emirates to allow it to import 500,000 of Nvidia’s most advanced AI chips per year starting in 2025, sources said. The move will boost the Emirates’ construction of data centres that are vital to developing artificial intelligence models. The sources said the agreement was at least […]

Donald Trump speaks with Saudi Arabia's Crown Prince Mohammed bin Salman at a G20 summit. Saudi Arabia will be Trump's first stop on his Gulf visit

Big money, big deals – but Gulf needs FDI clarity from Trump

US President Donald Trump arrives in the Saudi capital Riyadh tomorrow on the first leg of his three-country Gulf visit that will also take in Qatar and the UAE. His overwhelming objective is money and big deals: to sell American goods and secure their investment to the US economy.  With that in mind, the US […]

Khaldoon Khalifa Al Mubarak said Mubadala's results reflected the fund's 'focused and resilient strategy, with risk-adjusted returns in sectors where we have conviction'

Abu Dhabi’s Mubadala reveals 34% rise in 2024 spending

Mubadala deployed AED119 billion ($32 billion) of capital last year, a rise of nearly 34 percent on 2023, the Abu Dhabi sovereign wealth fund has revealed in its latest earnings report.  The fund, which is thought to have been the world’s most active sovereign investor in 2024, has not released data on its annual revenues […]

President Donald Trump holds an 'Investing in America' event at the White House. The president will visit the Gulf from May 13-16, and artificial intelligence is expected to be at the top of the agenda

AI will be front and centre during Trump’s Gulf trip

Artificial intelligence is expected to be top of the agenda during US president Donald Trump’s visit to Qatar, Saudi Arabia and the United Arab Emirates in mid-May, with officials from all sides eager to announce fresh partnerships. Discussions are likely to focus on securing more GCC investments into US technology and expanding Gulf states’ access […]

Zach Witkoff was on a panel with Eric Trump at the Token2049 crypto event taking place in Dubai

Abu Dhabi’s MGX to use Trump stablecoin for Binance deal

A stablecoin linked with President Donald Trump will be used by Abu Dhabi’s MGX as part of the technology company’s $2 billion investment in Binance, the world’s largest cryptocurrency exchange, it was announced on Thursday. MGX announced a minority investment in Binance in March.  Zach Witkoff, co-founder of World Liberty Financial, a cryptocurrency holding company […]

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 […]