CNBC May 2, 2024
Key Points
– Abu Dhabi artificial intelligence firm Presight bought a 51% stake in AIQ, a joint technology venture between the Abu Dhabi National Oil Company and G42, a major Abu Dhabi-based AI and cloud company.
– The new ownership structure will see ADNOC holding 49% of the company and giving it a valuation of $1.4 billion, according to a joint company press release.
– ADNOC will in turn get a 4% stake in Presight, as it aims to integrate AI into more of its operations and services.
DUBAI — Abu Dhabi artificial intelligence firm Presight bought a 51% stake in AIQ, a joint technology venture between the Abu Dhabi National Oil Company, or ADNOC, and G42, a major Abu...
Today's Sponsors
Today's Sponsor