Artificial Intelligence Riyadh IT company wins $10m project with Saudi AI authority Al Moammar Information Systems, a Riyadh-based technology company, has secured a SAR39 million ($10 million) project with the Saudi Data and AI Authority (SDAIA). Al Moammar, a listed company formed in 1996, invested $5 million in the giant American artificial intelligence research company OpenAI earlier this year. OpenAI is known for its large language AI […] June 27, 2024
Analysis Artificial Intelligence US scores geopolitical win with Abu Dhabi-Microsoft tie-up Microsoft’s $1.5 billion investment in Abu Dhabi’s artificial intelligence company has received a significant vote of confidence from US authorities. Tarun Chhabra, a senior White House adviser on technology, said on Monday that the US government has raised no objections to the Silicon Valley giant’s partnership because G42 had severed ties with the Chinese tech […] June 26, 2024
Artificial Intelligence Qatar’s Ooredoo signs AI deal with chipmaker Nvidia US chipmaker Nvidia has signed a deal with Qatari telecommunications provider Ooredoo Group to bring its artificial intelligence technology to five countries in the Middle East, the companies announced on Sunday. Ooredoo will be the first company in the region to offer direct access to Nvidia’s AI and computer chips to its customers in Qatar, […] June 24, 2024
Tech Abu Dhabi-backed chipmaker Cerebras plans IPO Cerebras Systems, an Abu Dhabi-backed chipmaker looking to compete with Nvidia, the world’s top chip company by market value, has confidentially filed for an initial public offering, according to reports. Based in California’s Silicon Valley, Cerebras is also planning to offer preferred shares at a significant discount, aiming to attract private investors before the IPO, […] June 21, 2024
Health Mubadala and QIA invest in US cancer research startup Funds from the UAE and Qatar have invested in a US-based clinical-stage biotechnology start-up. Mubadala Capital, a wholly owned subsidiary of Mubadala Investment Company, co-led the $50 million Series B extension in funding to Iambic Therapeutics, based in San Diego, California. The funds will allow the American start-up to broaden its pipeline of AI-discovered clinical […] June 21, 2024
Economy Saudi Arabia and UAE up in World Competitiveness Ranking Saudi Arabia and the UAE have improved their rankings in the annual IMD World Competitiveness Ranking this year, as both Gulf states embrace artificial intelligence (AI) to make their economies more productive. The list, which is compiled by the International Institute for Management Development (IMD) in Switzerland, saw the UAE rise three places to seventh, […] June 19, 2024
Health Mubadala-backed US startup working on AI cancer care A US genomics startup, backed by Abu Dhabi’s sovereign wealth fund Mubadala, is working with ChatGPT creator OpenAI to improve cancer screening and treatment using artificial intelligence models. Color Health, which uses data science and machine learning for genetic testing and counselling in hereditary cancer and heart conditions, has developed an AI assistant, or “copilot”, […] June 18, 2024
Tech Nvidia stocks are all the rage in UAE as trading surges 50% Retail investors in the UAE have significantly ramped up their holdings in Nvidia – now the world’s most valuable company. Trading activity in the Emirates for the AI chipmaker’s stock jumped 50 percent in the first quarter of the year, according to data from a global trading and investment platform. Nvidia is now worth $3.34 […] June 18, 2024
Tech Saudi Arabia campaign aims to attract chipmakers Saudi Arabia has launched a National Semiconductor Hub in a bid to attract international chipmakers. The kingdom is targeting at least 50 semiconductor design companies to set up business by 2030, aiming to cut its reliance on imported computer chips. The global semiconductor industry, once plagued by shortages, is now showing signs of recovery and […] June 6, 2024
Artificial Intelligence China’s OpenAI rival backed by Saudi fund Saudi Aramco’s venture capital fund Prosperity7 has joined a $400 million investment round for Chinese generative AI startup Zhipu AI. Prosperity7 is a minority investor in Zhipu, which is valued at nearly $3 billion, the Financial Times reported on Friday. This marks the first instance of foreign investment in China’s quest to establish a homegrown […] May 31, 2024
Artificial Intelligence Prince Alwaleed part of Elon Musk’s $6bn AI funding round Elon Musk’s artificial intelligence startup xAI has secured $6 billion in a series B funding round led by investors including Saudi billionaire Prince Alwaleed Bin Talal and his investment firm Kingdom Holding Company. The round, which also included investments from Dubai-based Vy Capital and US companies Andreessen Horowitz and Sequoia Capital, will assist the commercial […] May 28, 2024
Tech G42 and Microsoft to invest $1bn in Kenya data centre Abu Dhabi-based artificial intelligence (AI) company G42 has partnered with US tech giant Microsoft to invest $1 billion in a green data centre in Kenya. The data centre, which will be built by G42 and its partners, will provide access to Azure – a computing platform developed by Microsoft – through a new East Africa cloud region. […] May 23, 2024
Artificial Intelligence UAE and France agree joint investments in AI France and the UAE are to increase their collaboration in artificial intelligence, including joint investments, as they seek to become leaders in the AI sector. The French economy minister, Bruno Le Maire, signed a strategic agreement with Khaldoon Al Mubarak, chief executive of the UAE investment fund Mubadala and a member of the Abu Dhabi […] May 22, 2024
Artificial Intelligence IBM to help Saudi Arabia train AI models in Arabic Saudi Arabia has signed a deal with US tech giant IBM to develop the kingdom’s generative artificial intelligence (AI) capabilities. The Saudi Data and Artificial Intelligence Authority (SDAIA) said on Tuesday that its Arabic language AI model, ALLaM, will be trained on IBM’s platform to run more efficiently. This will also add new language skills […] May 22, 2024
Analysis Tourism Pressure on Saudi tourism exposes mixed feelings about AI Saudi Arabia is trying to limit the use of artificial intelligence technology in its expanding tourism industry in an effort to boost job numbers, despite strides being made elsewhere in the sector to make the kingdom a leader in digitalisation. Speaking at an economic forum in Doha last week, tourism minister Ahmed Al-Khateeb expressed concerns […] May 22, 2024
Artificial Intelligence UAE joins AI safety pledge at UK-South Korea summit Two artificial intelligence companies from the UAE have signed up to a new AI safety pledge and have committed to safe development of the technology. Abu Dhabi’s Technology Innovation Institute and G42 are among 16 names on the safety pledge that also includes Amazon, Google, IBM, Meta, Microsoft, OpenAI and Samsung. The announcement was made […] May 21, 2024
Tech Bayanat increases funding for climate disaster R&D Geospatial services provider Bayanat has increased its investment into climate disaster research and development following a strong profit rise in the first quarter of 2024. Abu Dhabi-based Bayanat said gross profit for the first quarter reached AED32 million ($8.7 million), representing a gross margin of 28 percent. Revenues were 12 percent up year on year […] May 15, 2024
Tech QIA invests in French semiconductor fund Ardian Qatar Investment Authority (QIA), the country’s sovereign wealth fund, has announced plans to make an anchor investment in Ardian Semiconductor, a new entity established by the French private equity firm Ardian. The move underscores the Gulf state’s bet on the crucial role of semiconductors in powering digital and green transformations in key areas such as […] May 14, 2024
Manufacturing Saudi Arabia willing to drop China for US tech alliance Saudi Arabia will sever technology ties with China if the United States compels it to, the chief executive officer of Alat, an investment company backed by $100 billion in capital from the Public Investment Fund, has revealed. According to Bloomberg US officials have told their Saudi Arabian counterparts that they will have to decide between […] May 9, 2024
Artificial Intelligence Aramco leads the pack in oil and gas AI investments Saudi Aramco invested around $3.5 billion in research and development last year and leads in adopting artificial intelligence, as it rivals its regional peers in the adoption of new technology. The world’s largest energy company was active in more than 250 areas, such as AI, drones, robotics, electric vehicles and hydrogen technology, a GlobalData report […] May 6, 2024
Artificial Intelligence Presight takes majority stake in Adnoc-G42 AI venture The data analytics company Presight is acquiring a majority stake in AIQ, a joint venture between Abu Dhabi National Oil Company (Adnoc) and G42. Under the agreement, Presight, an Abu Dhabi-listed company, will own 51 percent of AIQ, with Adnoc keeping the remaining 49 percent, a statement released on Wednesday said. Previously, G42 held 40 […] May 2, 2024
Artificial Intelligence Dubai to appoint AI officers across all government entities Dubai has ordered that all government entities must appoint a chief artificial intelligence officer, as part of a new drive to embrace the new technology. The Dubai Universal Blueprint for Artificial Intelligence was launched on Monday and as part of the initiative the new government AI officers will be tasked with leading specialised AI projects […] April 30, 2024
