G42 board plots AI strategy with Microsoft’s Smith at the table
Saudi Arabia is reportedly planning a new AI initiative with as much as $100 billion as it seeks to compete with the UAE
Sheikh Tahnoon bin Zayed with Microsoft's Brad Smith and G42 CEO and Vice Chair of Microsoft, and G42 CEO Peng Xiao at $1.5 billion deal signing in April (Emirates News Agency)
G42, the Abu Dhabi technology firm backed by the emirate’s sovereign wealth and Microsoft, is cooking up plans for its new investments in artificial intelligence next year.
At a board meeting on Thursday led by G42 Chairman Sheikh Tahnoon bin Zayed, who is also the UAE’s Deputy Ruler and National Security Advisor as well as Chairman of ADIA and International Holding Co., the company worked out its growth strategy for 2025.
Among those around the board table were Mubadala CEO Khaldoon Al Mubarak, G42 CEO Xiao Peng, G42 Group Counsel Marty Edelman, Microsoft President and Vice Chairman Brad Smith, and Bridgewater Associates Founder Ray Dalio, Etisalat Chairman Jassem Al Zaabi and Silver Lake Technology CEO Egon Durban.
“We emphasized the Group’s crucial role in shaping the future of global technology and making innovation a cornerstone for a more prosperous future globally,” Sheikh Tahnoon said in an Instagram post.
As G42 grows, Saudi Arabia is planning a new AI initiative with as much as $100 billion in backing as it seeks to compete with the UAE, Bloomberg reports. A tech hub being built by the Saudi Public Investment Fund and Google may serve as the starting point for the project, the news agency said.