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Microsoft Invests $1.5 Billion In Abu Dhabi AI Tech Firm G42

The collaboration will promote and share the latest AI tech and skills initiatives worldwide and introduce an investment fund for developers.

Published

2 years ago

April 17, 2024

Joanna Melki

microsoft invests $1.5 billion in abu dhabi ai tech firm g42

G42

Abu Dhabi AI and tech firm G42 have announced a partnership with Microsoft that will include a $1.5 billion investment. The huge cash injection will help the collaborating companies bring the latest Microsoft AI tech and skills initiatives to the UAE, as well as the wider Middle East, Central Asia, and Africa.

Over time, G42 and Microsoft aim to empower nations and improve equity by allowing access to services that address vital government and business concerns while promoting the highest privacy and security standards.

H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42, explained: “Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and innovation, signifying a strategic alignment of vision and execution between the two organizations. This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally”.

The partnership will support the creation of a skilled AI workforce and develop a talent pool to drive innovation and boost competitiveness in the UAE and beyond with a $1 billion investment fund for developers.

As part of the newly expanded partnership, Brad Smith, Vice Chair and President of Microsoft, will join G42’s board of directors. In a recent statement, Smith said: “Our two companies will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations [combining] world-class technology with world-leading standards for safe, trusted, and responsible AI, in close coordination with the governments of both the UAE and the United States”.

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As part of their regional plans, Microsoft and G42 have firmly committed to complying with US and international trade laws. They will also adhere to responsible AI and business integrity regulations governed by a detailed Intergovernmental Assurance Agreement (IGAA).

Peng Xiao, G42’s Group Chief Executive Officer, stated, “This partnership significantly enhances our international market presence, combining G42’s unique AI capabilities with Microsoft’s robust global infrastructure. Together, we are not only expanding our operational horizons but also setting new industry standards for innovation”.

The G42 and Microsoft collaboration has passed several significant milestones over the past twelve months. A joint plan to develop AI solutions for industry and the public sector and industry was unveiled in April 2023, and last September, Microsoft and G42 laid out plans to unlock the potential of the Azure public cloud platform. Finally, in November 2023, Microsoft added G42’s Jais Arabic Large Language Model to its Azure AI Cloud Model.

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News

NEOPAY Wants To Follow Merchants Across Channels And Borders

A controlling 65% stake in noon payments would give NEOPAY access to marketplace sellers, online merchants and the payment flows they generate.

Published

1 day ago

October 5, 2026

Nour Nasir

neopay wants to follow merchants across channels and borders

It’s been a long time since checkouts were single defined places. A merchant might take payments at a physical register, on its own website and through an online marketplace, sometimes in more than one country. NEOPAY wants to follow those transactions wherever they happen.

The UAE payments company has entered into an agreement to acquire a 65% controlling stake in noon payments. NEOPAY already runs the acquiring infrastructure that lets merchants accept card payments, along with omnichannel acceptance and a merchant services platform. This new deal would add noon payments’ embedded payments platform, e-commerce gateway and merchant network across the UAE, Saudi Arabia and Egypt. That would considerably expand both NEOPAY’s digital commerce capabilities and its regional reach.

For merchants, the attraction is a single provider for online and in-store payments, plus faster settlements, data and analytics, and value-added financial services.

“Payments should be simple, reliable, and built for the markets they serve,” said Faraz Khalid, CEO of noon. His counterpart at NEOPAY, Vibhor Mundhada, added: “We have built a strong payments business in the UAE, and our ambition is now to take that capability across the region”. The acquisition, Mundhada added, would “expand our footprint into Saudi Arabia and Egypt” while reinforcing NEOPAY’s position at home.

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NEOPAY is also keen to point out potential payment volume increases. The company says noon payments’ integrations with marketplace sellers and online merchants create high transaction density in some of the region’s fastest-growing digital commerce segments. It also believes control of the business would give it access to those merchant relationships and payment flows, and speed up the rollout of alternative payment methods and installment options.

The combined roadmap targets faster merchant onboarding, better payment performance, tighter fraud controls and embedded financial services. The deal could also strengthen cross-border payments and settlement along key regional commerce corridors.