Mubadala, Microsoft-backed G42 leads $55mln investment in AppliedAi
The Series A funding, one of the biggest for a start-up in the region, also drew support from Bassemer Venture Partners, Palantir, McKinsey and Accrete Capital.
The new capital will support plans to hire additional staff and develop AI tools.
AppliedAI develops software and helps organisations in healthcare, insurance, government and financial services automate processes like medical billing or healthcare claims.
AppliedAI was founded in the UK in 2021, but the company later moved to Abu Dhabi.
Last year, Microsoft announced a $1.5 billion investment in G42. The partnership seeks to bring the tech giant's AI technologies and skilling initiatives to the UAE and other countries. Part of the plan is to open two AI centres in Abu Dhabi.
(Writing by Cleofe Maceda; editing by Seban Scaria)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The National
43 minutes ago
- The National
UAE secures third spot on global sovereign wealth fund ranking
The UAE has secured the third position globally in the latest ranking of sovereign-owned investment assets, according to the Global SWF Mid-Year Report 2025. The UAE's sovereign investment portfolio stands at $2.49 trillion, just behind China with $3.36 trillion in sovereign assets, and the United States with $12.12 trillion. Sovereign-owned investment assets include capital managed by sovereign wealth funds and public pension funds. These funds are designed to invest in a diverse range of global assets-from equities and bonds – to real estate and private companies. The funds are used to safeguard long-term fiscal stability and national development. Historically underpinned by oil revenue, the UAE's sovereign wealth strategy has evolved in recent years. Today, these funds are increasingly deployed to support future-focused sectors. Regional leader – global contender Largely driven by the Abu Dhabi Investment Authority, Mubadala Investment Company, ADQ, and the Investment Corporation of Dubai, the UAE's sovereign ecosystem reflects a rapidly expanding and diversified portfolio with investments spanning sectors such as energy, artificial intelligence, and sustainable industries. In the Middle East, the UAE now leads the region in sovereign wealth, positioned ahead of regional peers. Global rankings place Japan fourth with $2.22 trillion, followed by Norway, Canada, Singapore, Australia, Saudi Arabia, and South Korea.
%3Amax_bytes(150000)%3Astrip_icc()%2Fdogecoin-02b89237819544f19a7440c5405e12f7.jpg&w=3840&q=100)
Arabian Post
an hour ago
- Arabian Post
Stock market information for Dogecoin
Dogecoin is a crypto in the CRYPTO market. The price is 0.164341 USD currently with a change of -0.00 USD from the previous close. The intraday high is 0.167214 USD and the intraday low is 0.161817 USD. Memecoin Resilience: Dogecoin Holds Firm at $0.16 Level Dogecoin bounced off the $0.16 mark after a sharp intraday decline, signalling that bulls are defending this multi‑week floor. Trading volume surged near these levels, indicating accumulation and potential consolidation ahead. ADVERTISEMENT The memecoin dropped around 5 per cent intraday, bottoming at approximately $0.161 before recovering to about $0.163, according to CoinDesk's data. Volume during the bounce doubled the daily average, underscoring robust buyer interest around this critical price band. Market observers note that holding above $0.160 could pave the way for a sustained recovery. Technical analysts suggest Dogecoin may be forming a base around this level. CoinDesk's Shaurya Malwa points out that the token remained in a narrow range between $0.162 and $0.164 after the bounce—a pattern often associated with consolidation and trend reversals. The broader cryptocurrency landscape remains volatile. Macroeconomic pressures—particularly global trade tensions and central bank policy uncertainty—have triggered risk‑off sentiment. That volatility tends to amplify swings in meme‑style tokens like Dogecoin, yet it also creates value opportunities for strategic buyers. On‑chain interest appears healthy. Cryptocurrency analytics platform CoinGecko reports substantial trading activity across centralised exchanges, with 24‑hour turnover exceeding $900 million, although this reflects a slight dip from the previous week's average. Coinbase indicates Dogecoin remains the top memecoin by trading volume, commanding approximately 1 per cent of the total crypto market cap. In European trading on 3 July, Dogecoin climbed close to $0.174 following a defence of the $0.16 region. Analysts caution that this rebound, representing an 11 per cent gain from the low, may end up corrective rather than reflecting a confirmed trend shift. More Crypto Online, a technical analyst, contends the price movement fits an ABC diagonal wave pattern, warning that failure to hold $0.16 could invalidate bullish outlooks. Should the token maintain support, targets around $0.196 appear plausible; yet a break below $0.151 may trigger renewed weakness. Amid this backdrop, speculation builds around a possible Dogecoin‑based ETF. Amendments filed by Bitwise for a spot‑DOGE ETF have increased optimism, with analysts estimating a high probability of SEC approval by the year‑end. A green light could invite fresh institutional capital and broader market legitimacy, although timing expectations remain uncertain. Social media and celebrity influence continue to play a strong role. Elon Musk's intermittent endorsements and jovial online commentary have historically driven surges in trading volume and public interest. At present, Dogecoin remains range‑bound, with the $0.16 level acting as both a psychological and technical barrier. A sustained break above $0.164—coupled with upticks in volume—could signal a reversal toward mid‑$0.18 or even $0.20. Conversely, capitulation below the $0.16 threshold may re‑test June lows and weaken broader memecoin sentiment. Traders await forthcoming macroeconomic signals—US inflation data, central bank communications—and updates on ETF applications, all of which could determine whether Dogecoin's floor holds or fractures.
Arabian Post
an hour ago
- Arabian Post
Chip‑Scale Interconnect Boosted as Tenstorrent Acquires Blue Cheetah
Tenstorrent has acquired Blue Cheetah Analog Design, integrating the startup's expert team and chiplet interconnect IP into its in‑house capabilities, advancing its strategy for high‑performance AI hardware. The Canadian‑based AI chipmaker announced on 1 July 2025 that it has secured Blue Cheetah, a Sunnyvale‑headquartered innovator specialising in analog and mixed‑signal IP for chiplet designs. The move brings Blue Cheetah's BlueLynx die‑to‑die interconnect subsystem—compatible with Open Compute Project's Bunch of Wires and Universal Chiplet Interconnect Express standards—directly under Tenstorrent's control. Blue Cheetah, founded in 2018 and backed by Marvell luminaries Dr Sehat Sutardja and Weili Dai, has established a reputation for delivering customizable interconnect IP across various foundries and nodes. The startup's executive and engineering teams are led by co‑founder and CEO Dr Elad Alon, a recognised expert in analog/mixed‑signal design and technical lead for the Bunch of Wires PHY standard. ADVERTISEMENT According to Tenstorrent CEO Jim Keller, the acquisition will 'accelerate our chiplet vision of creating an open chiplet ecosystem, with open interconnects optimised for each specific chiplet socket'. Bringing critical analog capabilities in‑house is expected to enhance performance and efficiency in AI systems, especially as chiplet architectures gain prominence in scaling compute workloads. Dr Alon stated that Blue Cheetah had long collaborated with Tenstorrent as a customer and partner, and the merger will allow them to amplify their impact on chiplet ecosystems worldwide. This deal marks Tenstorrent's first semiconductor acquisition in the United States, and builds on its previous licensing agreement with Blue Cheetah for die‑to‑die interconnect technology in its AI and RISC‑V chiplet solutions. Analysts suggest that this vertical integration provides Tenstorrent with tighter control over its interconnect IP roadmap, reducing dependency on external vendors and improving time‑to‑market for future designs. Tenstorrent's global operations span offices in Austin, Silicon Valley, Toronto, Belgrade, Seoul, Tokyo and Bangalore, supported by investors including Eclipse Ventures, Samsung Catalyst Fund and Hyundai Motor Group. Blue Cheetah's integration deepens those ties, offering advanced analog interconnect capabilities critical to chiplet‑based AI and high‑performance computing platforms. Industry observers highlight the timing of the acquisition as significant. As demand grows for modular chiplet architectures—driven by the escalating compute requirements of AI workloads—having proprietary, standards‑compliant interconnect IP in‑house may enable Tenstorrent to lead in chiplet performance and ecosystem development. Their strategy aligns with Open Compute Project's push for interoperable chiplet interfaces, signalling potential influence on emerging chiplet standards. The hardware industry continues to shift from monolithic to chiplet‑driven designs, balancing energy efficiency, yield, and scalability. Tenstorrent's move mirrors broader efforts among AI‑hardware firms to secure key IP layers critical to end‑to‑end system performance. The Blue Cheetah team brings deep expertise in D2D, DDR, SerDes and physical‑link design—capabilities that are increasingly rare and valuable.' Dr Alon shared on LinkedIn that the integration of Blue Cheetah's team into Tenstorrent reflects a shared vision to 'build simple and comparable chiplet ecosystems,' noting the appreciation extended to partners, investors and employees as they embark on this 'tremendous impact' together.
