-- Microsoft Corp. will invest $1.5 billion in the United Arab Emirates’ top artificial intelligence firm, G42, bolstering the Abu Dhabi-based company’s commitment to scale back its presence in China.S&P 500 Breaks Below 5,100 as Big Tech Sells Off: Markets WrapAs part of the accord, Microsoft President Brad Smith will join G42’s board, and G42 will use the US software maker’s Azure cloud for its AI applications.
In a later stage of the deal, Microsoft will host some of its own applications in G42’s data centers and use the relationship as a way to reach customers in Africa and Central Asia, Smith said. That pivot came against the backdrop of broader US pushback on entities perceived to have close ties with Beijing. Officials in President Joseph Biden’s cabinet were reviewing more than half a dozen acquisitions, people familiar with the matter said last year, including deals from Mubadala Investment Co., which owns a stake in G42.
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