Microsoft to Invest $1.5 Billion in UAE AI Firm G42

  • 📰 CNBC
  • ⏱ Reading Time:
  • 51 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 41%
  • Publisher: 72%

Technology News

Microsoft,Investment,Artificial Intelligence

Microsoft will invest $1.5 billion into G42, an artificial intelligence firm based in the United Arab Emirates, as the U.S. giant looks to strengthen its position in the technology. Microsoft President Brad Smith will join the board of directors of G42.

Microsoft will invest $1.5 billion into G42, an artificial intelligence firm based in the United Arab Emirates, as the U.S. giant looks to strengthen its position in the technology.

The deal is unusual due to heavy government involvement which comes after U.S. scrutiny on G42 for its alleged ties to China.Microsoft President and Chief Legal Officer Brad Smith speaks during the annual Microsoft shareholders meeting in Bellevue, Washington on November 29, 2017.will invest $1.5 billion into G42, an artificial intelligence firm based in the United Arab Emirates, as the U.S. giant looks to strengthen its position in the technology amid fast-rising competition.

G42 will run its AI applications and services on the Microsoft Azure cloud service, as well as deploy Microsoft's cloud offerings. "The work on these topics is governed by a detailed Intergovernmental Assurance Agreement between G42 and Microsoft that was developed in close consultation with both the UAE and U.S. governments."The government's involvement comes after months of scrutiny on G42 for its links to China. In January, House Rep. Mike Gallagher, R-Wi., chairman of the U.S.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in TECHNOLOGY

Technology Technology Latest News, Technology Technology Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Microsoft Invests $1.5 Billion in Abu Dhabi AI Firm G42Microsoft has invested $1.5 billion in Abu Dhabi-based artificial intelligence firm G42, securing a board seat and aiming to strengthen its position in the AI industry. G42 will utilize Microsoft's Azure service for its AI applications and services, and the two companies will collaborate on developing AI products. The deal was made in consultation with the US and UAE governments, as the US seeks to gain an advantage over China in the Gulf region and AI technology.
Source: Investingcom - 🏆 450. / 53 Read more »

Microsoft to invest $2.9 billion to boost AI business in JapanMicrosoft to invest $2.9 billion to boost AI business in Japan - Nikkei
Source: Investingcom - 🏆 450. / 53 Read more »

South Korea to Invest $6.94 Billion in Artificial IntelligenceSouth Korean President Yoon Suk Yeol announced a plan to invest 9.4 trillion won in artificial intelligence by 2027 to maintain its global position in semiconductor chips. The investment also includes a 1.4 trillion won fund to support AI semiconductor firms.
Source: cnnbrk - 🏆 393. / 55 Read more »