Microsoft to reportedly announce new $1.5B AI deal with UAE
April 16 2024 - 10:22AM
IH Market News
Microsoft Corp. (NASDAQ:MSFT) is set to unveil a substantial $1.5
billion deal with Emirati company G42 for the development of
artificial intelligence technologies, as reported by The New York
Times on Tuesday. This partnership marks a significant move in the
tech industry, reflecting the growing importance of AI in global
business strategies.
Under the terms of the agreement, Microsoft will empower G42 to
sell services utilizing advanced AI chips, which are essential for
training and tuning generative AI models. This provision will
enable G42 to enhance its capabilities in the burgeoning field of
artificial intelligence. In exchange, G42 will integrate
Microsoft’s cloud services extensively and will benefit from a
security agreement that has been the subject of detailed
negotiations with the US government.
This strategic alliance is part of a broader geopolitical
context, as indicated by the report. The Biden administration has
orchestrated this deal to strategically position the United States
in the technological race against China, particularly in the Gulf
region where both Washington and Beijing are vying for
technological and economic influence.
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