The US is trying to get UAE to collaborate with American tech companies and distance itself from China in its technological collaborations especially when it comes to AI. As a result, several American tech companies like Microsoft, OpenAI etc are investing heavily in the region.
The Biden administration is actively exploring a partnership between US tech companies and the United Arab Emirates (UAE) in the ongoing artificial intelligence race to gain an advantage over China in a race to develop the technology.
In fact, it is actively trying to get the UAE to ditch China as it AI partner and join them instead.
This week, Microsoft made headlines by announcing a substantial $1.5 billion investment in G42, an AI company based in Abu Dhabi chaired by influential Emirati royal Sheikh Tahnoon Bin Zayed al-Nahyan. The deal marks a significant move in its strategic alliance with the UAE.
Sources familiar with the discussions reveal that the deal was facilitated by the US government through a series of meetings over the past year, involving prominent American tech firms like Microsoft, Google, and OpenAI, among others.
These efforts are part of Washington’s broader strategy to maintain leadership in AI technology, particularly in competition with China.
Key figures involved in the negotiations include Commerce Secretary Gina Raimondo and Sheikh Tahnoon, who oversees both G42 and Abu Dhabi’s largest sovereign wealth fund.
The partnership between US tech companies and Abu Dhabi reflects the intersection of commercial interests with national strategic and security considerations.
Abu Dhabi’s aspirations in AI are fueled by its ambitions to leverage its considerable wealth and reduce reliance on fossil fuels. Initiatives like the MGX fund dedicated to AI investments and substantial funding for research and development demonstrate the Emirate’s commitment to AI innovation.
Press Release from Carey Olsen, Friday 19 April, 2024. Carey Olsen has advised investment services firm Sanctum FI LLP (“Sanctum”), the investment manager of Financial Science Holdings
The Internal Revenue Service has wrapped up its annual Dirty Dozen campaign, which it self-proclaims as “the worst of the worst” tax scams. The last few scams in the series leave a lot to be unpacked.
The new CEO of the world’s top crypto platform stressed the importance of regulatory compliance for Binance’s future success, months after its former chief executive pleaded guilty to violating
Bitcoin is once again on the ascendency, rising more than 20 per cent over the last week to take it close to its all-time high. Reaching above $63,000 on Thursday, the world’s leading cryptocurrency