PYMNTS.com April 21, 2024
The White House reportedly wants U.S. artificial intelligence (AI) companies to form partnerships in the United Arab Emirates (UAE).
By launching operations in the UAE, the U.S. could build an alliance that would give it an advantage over China in the race to develop new AI projects, sources told the Financial Times (FT) in a report published Sunday (April 21).
The report followed Microsoft’s recent announcement that it was investing $1.5 billion in G42, an AI company based in Abu Dhabi and led by Emirati royal Sheikh Tahnoon Bin Zayed al-Nahyan.
According to the report, sources familiar with the discussions said the deal became final after a series of meetings — brokered by the American government — between investors...
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