Cleveland Clinic Abu Dhabi picks G42’s Peng as new Chairman

The Cleveland Clinic, a pioneering U.S. medical center, has tapped Peng Xiao, Chief Executive of UAE tech powerhouse G42, to chair its Abu Dhabi branch.

The hospital announced on Wednesday that Peng was picked to lead the board as part of its effort to improve patient care through employing artificial intelligence in medical diagnostics and innovative treatments.

G42, which is owned by Abu Dhabi’s Royal Group and shareholders including Mubadala Investment Co. and Microsoft, has been at the forefront of the UAE’s efforts to become a leader in AI infrastructure and other advanced technologies. Peng has been CEO since its founding in 2018.

The Cleveland Clinic’s CEO and President, Dr. Tom Mihaljevic, hailed the appointment, saying in a statement that Peng will help the hospital “continue to grow as a beacon of excellence and innovation in the region.”

Peng expressed his commitment to expanding Cleveland Clinic Abu Dhabi’s services by marshaling the country’s technological resources.

“By combining the hospital’s renowned clinical expertise with advanced artificial intelligence, we will deliver earlier diagnoses, more precise therapies, and better outcomes for every patient,” Peng said.

Trump heads home after sewing up $200 billion in UAE deals

President Donald Trump wrapped up his four-day tour of the Gulf with a pomp-filled visit to the UAE, locking in some $200 billion in contracts that starts to fulfill the UAE’s pledge to spend $1.4 trillion in the U.S. over the next decade. He took off for Washington in the early afternoon.

With attention focused on the U.S. leader’s commitment to ease restrictions on selling advanced AI semiconductor chips to the UAE and Saudi Arabia, the two countries signed an agreement to build an AI development campus in Abu Dhabi that would be the world’s largest outside the U.S.

Though specifics on the AI tech purchases were not disclosed, Trump and Sheikh Mohamed met together with Jensen Huang, the CEO of Nvidia, which is the largest maker of the most advanced chips.

“We’re making great progress for the $1.4 trillion that the UAE has announced that it intends to spend in the United States over the next couple of years,” Trump told the UAE-U.S. Business Forum in an address early today. “This will generate billions and billions of dollars in business and accelerate the UAE plans to become a really major player in artificial intelligence.”

Trump also met with Dr. Sultan Al Jaber, the UAE Minister of Industry and Advanced Technology and CEO of ADNOC, at the business summit.

Among the deals were a $14.5 billion commitment from Etihad Airways for the purchase of 28 Boeing aircraft and a $60 billion oil and gas deal with ADNOC involving ExxonMobil, Occidental Petroleum, and EOG Resources. UAE officials said today the country will increase the value of its energy investments in the U.S. to $440 billion over the next 10 years.

Before returning to Washington, Trump visited the Abrahamic Family House on Abu Dhabi’s Saadiyat Island, the monumental prayer compound built by the UAE that contains a mosque, a church and a synagogue.

Gliding into President Sheikh Mohamed Bin Zayed’s Qasr Al Watan palace grounds on Thursday night for a state dinner, Trump’s motorcade was flanked by mounted camels to the right and Arabian stallions to the left, The Circuit’s Omnia Al Desoukie reports from Abu Dhabi.

The Emirati and American leaders then strode together through the palace’s grand marble halls, where Emirati children waved flags while the national anthems of both countries were played. President Trump was presented by Sheikh Mohammed with the Order of Zayed, the country’s highest civilian award, which was also given to former U.S. President George W. Bush in 2008.

Among the guests at the state dinner were Sheikh Mansour bin Zayed; UAE Vice President; Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi; Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Sheikh Tahnoon bin Zayed, UAE National Security Adviser; Sheikh Abdallah bin Zayed, the UAE Foreign Minister; and Yousef Al Otaiba, the UAE Ambassador to the U.S.

Khaldoon Al Mubarak, Managing Director and Group CEO of the Mubadala sovereign wealth fund, and Peng Xiao, CEO of AI tech company G42 were also present.

Senior U.S. officials at the state dinner included U.S. Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, Defense Secretary Pete Hegseth and Martina Strong, U.S. Ambassador to the UAE.

Musk’s xAI, Nvidia join with MGX in artificial intelligence fund

The UAE’s biggest tech firms are capitalizing on White House support to tighten partnerships with America’s leaders in the booming industry of artificial intelligence.

A consortium created last year by Abu Dhabi investment fund MGX, Microsoft and BlackRock to finance power-hungry AI data centers welcomed chipmaker Nvidia and Elon Musk’s xAI to the group on Wednesday.

Expansion of the top-level venture came amid the Washington visit by Sheikh Tahnoon bin Zayed, the UAE National Security Advisor and Chairman of MGX and a constellation of other tech companies, who dined at the White House this week with President Donald Trump.

Sheikh Tahnoon, who held a meeting with Musk through a video feed on Wednesday, has been accompanied through the trip by Khaldoon Al Mubarak, the MGX Vice Chairman and CEO of the Mubadala sovereign wealth fund. Also on the visit is Dr. Sultan Al Jaber, CEO of the ADNOC national oil company and the UAE Minister of Industry and Advanced Technology. Peng Xiao, CEO of the Abu Dhabi-based AI company G42, joined the call with Musk.

Among the other meetings in his U.S. rounds, Sheikh Tahnoon said he “explored opportunities for collaboration and investment” with Oracle’s Larry Ellison.

ADQ, meanwhile, another Abu Dhabi sovereign wealth fund chaired by Sheikh Tahnoon, agreed to invest a combined $5 billion in a partnership with U.S-based Energy Capital Partners to build power stations for data centers and AI projects – with the investment eventually reaching $25 billion.

The announcement came as Nvidia CEO Jensen Huang told the company’s GTC conference in San Jose, Calif., that the industry is preparing for a massive leap in building data centers and chip manufacturing plants with accompanying energy demand.

“Over the next several years, we’re going to be building giant AI factories,” he said. Not normal AI factories … ones you see from space,” Huang said.