CNBC April 16, 2024
Key Points
– Microsoft will invest $1.5 billion into G42, an artificial intelligence firm based in the United Arab Emirates, as the U.S. giant looks to strengthen its position in the technology.
– Microsoft President Brad Smith will join the board of directors of G42. The investment expands an existing partnership between the two firms, with Microsoft now taking a minority stake.
– The deal is unusual due to heavy government involvement which comes after U.S. scrutiny on G42 for its alleged ties to China.
Microsoft will invest $1.5 billion into G42, an artificial intelligence firm based in the United Arab Emirates, as the U.S. giant looks to strengthen its position in the technology amid fast-rising competition.
Microsoft President Brad...
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