) said on late-Monday that it had invested $1.5 billion Abu Dhabi artificial intelligence firm G42, securing a board seat in the company as the U.S. tech giant seeks to further its lead in the rapidly growing AI industry.
G24 also has links to China, although the firm was seen selling its stakes in Chinese companies including Bytedance earlier this year to appease U.S. regulators. “Our two companies will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations,” Microsoft’s Smith said.
Microsoft has largely led efforts among its U.S. tech peers in rolling out and integrating AI into its products, particularly through its investment in OpenAI. The firm is also set to take an observing seat on the OpenAI board.