Microsoft to invest $1.5B in Emirati AI firm G42, takes minority stake

News Snapshot:

Microsoft will invest $1.5 billion in United Arab Emirates-based artificial intelligence firm G42, giving the US tech giant a minority stake and a seat on the board, the companies said in a statement on Tuesday. Under the partnership, G42 will run its AI applications and services on Microsoft’s cloud computing platform Azure to deliver advanced AI solutions to global public sector clients and large enterprises. Microsoft President Brad Smith, who will take a seat on G42’s board, said “We will combine world-class technology with world-leading standards for safe, trusted, and responsible AI, in close coordination with the governments of both...