“Microsoft has invested $1.5 billion in the artificial intelligence company G42 in Abu Dhabi as part of an expanded collaboration intended to support the business’s expansion goals.”

 

Microsoft has invested $1.5 billion in G42, an artificial intelligence and cloud computing business based in Abu Dhabi. This will support G42’s plans to expand internationally and solidify the UAE’s standing as a major hub for technology worldwide.

The firms said in a joint statement on Tuesday that as part of the extended relationship, a $1 billion fund will be established to support developers with the goal of strengthening the Middle East’s talent pool for technology.

Sheikh Tahnoun bin Zayed, the deputy ruler of Abu Dhabi and chairman of G42, said, “Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and creativity, indicating a strategic fit between the two organisations’ goals and methods of operation.”

“The association between G42 and Microsoft is anticipated to advantage the UAE and the locale by giving get to to progressed generative AI capabilities, growing information middle framework, supporting the improvement of a talented AI workforce, driving development and competitiveness for businesses and situating the UAE as a pioneer in AI innovation,” a representative for G42 told The National.In order to be ready for the economy and society of the future, the UAE continues to embrace cutting-edge technology and strives to become a global leader in AI.

The Emirates has drawn attention for its potential to develop into a key AI base worldwide and has shifted its focus to forming alliances with Western technology heavyweights.

According to The Wall Street Journal, in February, Sam Altman, the CEO of OpenAI, a company that creates ChatGPT, a generative AI platform, was rumored to be in talks with investors, including the government of the United Arab Emirates, to raise money—possibly as much as $7 trillion—to increase the world’s capacity to produce chips that will power AI.

The Financial Times reported in August of last year that the two largest economies in the Arab world, the United Arab Emirates and Saudi Arabia, were expanding their AI plans and had purchased thousands of AI processors from industry leader Nvidia.

In order to concentrate on providing AI solutions and services on a national level, G42 consolidated three of its core businesses in October, becoming Core42. These businesses were G42 Cloud, its research and development division Inception, and its ICT section Injazat.

Additionally, it announced a collaboration with OpenAI, with the goal of using its models in the public services, energy, financial services, and health care verticals where G42 works.

According to Peng Xiao, group chief executive of G42, “we are not only expanding our operational horizons but also setting new industry standards for innovation” with the most recent Microsoft investment.

The news also maintains G42 and Microsoft’s long-standing collaboration. The businesses declared their intention to create AI solutions for the public and commercial sectors in April of last year.

They came to a deal in September to provide AI-powered sovereign cloud products, and in November, Microsoft said that its new Azure cloud service would feature G42’s Jais Arabic large language model.

Inception created the open-source, bilingual Arabic-English model Jais, which was released in August. It was said to be the most accurate LLM for Arabic at the time, and its goal was to integrate one of the most extensively used languages in the world into mainstream AI.

 

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Source 18 April 2024 The National News

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