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Abu Dhabi AI Firm G42 Reportedly Explores Multibillion-Dollar Funding Round
Abu Dhabi-based artificial intelligence firm G42 has held exploratory talks with potential investors to raise billions of dollars, according to a Bloomberg report citing people familiar with the matter. The potential capital injection underscores the United Arab Emirates' aggressive strategy to become a global leader in AI development and investment.
Details of the Potential Deal
The discussions are in a preliminary stage, and no final decisions have been made regarding the structure or the exact size of the fundraising round, the sources said. If it proceeds, G42 would join a growing list of state-linked companies in the oil-rich emirate turning to external financing to fuel ambitious growth plans.
The company has not publicly stated how it would deploy the additional capital. G42 is already a central player in Abu Dhabi's technology ecosystem, which includes MGX, a technology investment firm where G42 and sovereign wealth fund Mubadala are founding partners.
High-Profile Backing and Leadership
AdG42 boasts a formidable roster of existing investors, including:
- Abu Dhabi sovereign wealth fund Mubadala Investment Co.
- U.S. private equity firm Silver Lake
- Technology giant Microsoft Corp. (NASDAQ:MSFT)
The company is overseen by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and a key architect of the nation's strategic push into artificial intelligence. Sheikh Tahnoon chairs a vast portfolio of companies, positioning G42 at the center of the country's economic and technological ambitions.
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