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Microsoft will invest $1.5 billion in G42, the UAE’s top AI company, to support its reduction in business in China.
Microsoft President Brad Smith will join the G42 board of directors, and G42 will use Microsoft Azure cloud to develop AI applications. The decision was taken in consultation with the U.S. and UAE governments.
The investment will make Microsoft a minority shareholder in G42 and establish a $1 billion fund. Smith said Microsoft will host applications in G42’s data centers and take the opportunity to reach markets in Africa and Central Asia.
This is a strategic collaboration aimed at accelerating the development of cloud and AI technologies in the Southern Hemisphere.
(Source: theedgemalaysia Image source: unsplash)
