Latest news with #AIAccelerationPartnership
Al Etihad
4 days ago
- Business
- Al Etihad
G42 makes it to TIME's 100 most influential companies' list
29 June 2025 12:15 A. SREENIVASA REDDY (ABU DHABI)G42, the UAE-based artificial intelligence leader, has made it to the TIME100 Most Influential Companies list. Featured under the 'Innovators' category and described as a 'Rising AI Power', G42 has been acknowledged for its extraordinary contributions to global AI infrastructure and strategy in the fifth edition of the annual TIME100 list, curated annually by TIME editors and correspondents, highlights companies across sectors that are shaping the future through innovation, ambition, and impact. G42 joins a select group that includes global giants such as OpenAI, Meta, Amazon, Huawei, ByteDance, Palantir, BlackRock, SpaceX, Nintendo, and Berkshire the MENA region, only two companies made it to the list this year — G42 and Saudi Arabia's Diriyah Company, which is leading the transformation of the historic Diriyah district into a cultural and heritage hub under Vision 2030.G42 was especially spotlighted for spearheading the world's largest AI infrastructure project outside the United States — a 10-square-mile AI campus in Abu Dhabi, launched in May 2025 in the presence of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and US President Donald Trump. Developed in collaboration with leading US companies such as OpenAI, Microsoft, Oracle, Cisco, SoftBank, and Nvidia, the AI campus will include supercomputers, data centres with 5-gigawatt capacity, a science park, and facilities powered by nuclear, solar, and gas sources.'This campus is just one G42 initiative supporting the UAE's 2031 AI superpower goal,' TIME noted. The project forms part of the broader US-UAE AI Acceleration Partnership, which aims to deepen bilateral cooperation on advanced technologies. Under the agreement, American companies will operate the data centres and extend US-managed cloud services, leveraging the UAE's strategic location to serve nearly half the world's to TIME, Faheem Ahamed, Group Chief Marketing and Communications Officer at G42, said the company sees other AI firms 'not as competition, but [as] potential collaborators.' He added that G42's selection reflects its growing global influence, with giga-scale projects underway in Europe, Kenya, and the US. 'It also reflects a collaborative model that positions the company at the centre of global AI infrastructure development.'Indeed, G42's ambitions extend far beyond the Gulf. Through its subsidiary Core42, the company recently signed a strategic agreement with iGenius to launch Europe's largest AI compute infrastructure — a sovereign AI supercomputer powered by thousands of Nvidia Blackwell to TIME, winning over Washington was pivotal to the company's global ambitions. In May, the US administration relaxed restrictions on semiconductor exports to the UAE, enabling US companies to sell cutting-edge chips for G42's AI campuses. 'For US firms, closer ties offer access to substantial Emirati capital and energy, and closer proximity to half the globe's population,' the TIME report said. The UAE, a forerunner in artificial intelligence policy, has made significant strides in recent years. It was the first country to appoint a Minister of AI in 2017 and to launch a nationwide AI strategy. Institutions such as the Mohamed bin Zayed University of Artificial Intelligence underscore the nation's commitment to leading AI innovation. Source: Aletihad - Abu Dhabi
Yahoo
09-06-2025
- Business
- Yahoo
Nvidia, Oracle--Backed Multi-Billion Dollar UAE AI Project Stalls Over Security Snag
June 9 - A multi-billion-dollar plan to build a massive AI data center hub in the UAE using U.S. technology remains far from finalized due to unresolved security concerns, according to a Friday report by Reuters. The project, dubbed Stargate UAE, brings together Nvidia (NASDAQ:NVDA), Oracle (NYSE:ORCL), OpenAI, Cisco Systems (NASDAQ:CSCO), SoftBank Group (SFTBY) and Abu Dhabi's G42 to construct a 1-gigawatt compute cluster. In reality, the entire 10-square-mile site will eventually host up to 5 gigawatts worth of data centers. The first 200-megawatt phase of Stargate UAE is slated to go live in 2026, with subsequent capacity added in stages. Warning! GuruFocus has detected 4 Warning Signs with NVDA. U.S. officials have yet to settle on security conditions for exporting advanced AI chips or agree on enforcement measures, leaving the deal's framework in limbo. Under the U.S.-UAE AI Acceleration Partnership, Abu Dhabi pledged to align its security protocols with Washington's standards. However, lingering concerns about the UAE's close ties to China and past use of Huawei technology continue to stall progress. Despite the delays, participants view Stargate UAE as a strategic move to anchor high-performance compute in the Middle East. G42 executives have emphasized that, once fully operational, the 5 gigawatts of compute capacity will support both local AI research and global cloud services. Yet until Washington finalizes export controls and enforcement guidelines, construction timelines beyond the initial 200 megawatts remain uncertain. Based on the one year price targets offered by 52 analysts, the average target price for NVIDIA Corp is $174.71 with a high estimate of $372.87 and a low estimate of $100.00. The average target implies a upside of +23.28% from the current price of $141.72. Based on GuruFocus estimates, the estimated GF Value for NVIDIA Corp in one year is $273.40, suggesting a upside of +92.92% from the current price of $141.72. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-06-2025
- Business
- Yahoo
Nvidia, Oracle--Backed Multi-Billion Dollar UAE AI Project Stalls Over Security Snag
June 9 - A multi-billion-dollar plan to build a massive AI data center hub in the UAE using U.S. technology remains far from finalized due to unresolved security concerns, according to a Friday report by Reuters. The project, dubbed Stargate UAE, brings together Nvidia (NASDAQ:NVDA), Oracle (NYSE:ORCL), OpenAI, Cisco Systems (NASDAQ:CSCO), SoftBank Group (SFTBY) and Abu Dhabi's G42 to construct a 1-gigawatt compute cluster. In reality, the entire 10-square-mile site will eventually host up to 5 gigawatts worth of data centers. The first 200-megawatt phase of Stargate UAE is slated to go live in 2026, with subsequent capacity added in stages. Warning! GuruFocus has detected 4 Warning Signs with NVDA. U.S. officials have yet to settle on security conditions for exporting advanced AI chips or agree on enforcement measures, leaving the deal's framework in limbo. Under the U.S.-UAE AI Acceleration Partnership, Abu Dhabi pledged to align its security protocols with Washington's standards. However, lingering concerns about the UAE's close ties to China and past use of Huawei technology continue to stall progress. Despite the delays, participants view Stargate UAE as a strategic move to anchor high-performance compute in the Middle East. G42 executives have emphasized that, once fully operational, the 5 gigawatts of compute capacity will support both local AI research and global cloud services. Yet until Washington finalizes export controls and enforcement guidelines, construction timelines beyond the initial 200 megawatts remain uncertain. Based on the one year price targets offered by 52 analysts, the average target price for NVIDIA Corp is $174.71 with a high estimate of $372.87 and a low estimate of $100.00. The average target implies a upside of +23.28% from the current price of $141.72. Based on GuruFocus estimates, the estimated GF Value for NVIDIA Corp in one year is $273.40, suggesting a upside of +92.92% from the current price of $141.72. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
Stargate UAE AI Deal Stalls Over U.S. Chip Rules
AI behemoth Stargate UAE has hit a roadblock because U.S. officials are still hashing out security terms for exporting advanced chips. Nvidia (NASDAQ:NVDA), Oracle (NYSE:ORCL), OpenAI, Cisco Systems (NASDAQ:CSCO), SoftBank Group (SFTBY) and UAE's G42 teamed up last month after President Trump's Middle East stop to launch what could become a 5-gigawatt AI data-center powerhouse. Warning! GuruFocus has detected 4 Warning Signs with NVDA. The first 200-megawatt chunk was supposed to go live in 2026, operated by OpenAI and Oracle, but nobody's signed off on the chip-export rules yet, so the deal remains on ice. Although G42 says the project builds on the new U.S.-UAE AI Acceleration Partnership, which aims to foster safe, responsible AI, Washington still worries about the UAE's China tiesrecalling how the UAE let Huawei (now under U.S. fire) roll out 5G during Trump's first term. OpenAI and G42 both have Microsoft (NASDAQ:MSFT) backing, but even that doesn't erase concerns that Chinese hardware or talent could leak U.S. tech to adversaries. Because of those unresolved security questionslike banning Chinese gear on site or limiting who can work therethe Commerce Department, Nvidia, OpenAI, G42, Microsoft, Oracle and SoftBank all declined to say when any approval might come. And adding drama, Elon Musk recently hinted he might torpedo the whole thing unless xAI gets a seat at the table. Investors should care because if the UAE pushes back on U.S. curbsinsisting on looser rulesthe entire Stargate plan could stall, undermining a high-profile attempt to export American AI clout. Watch for any new U.S. export guidelines and whether Abu Dhabi caves to get those cutting-edge chips; otherwise, this megaproject could sit stalled well past 2026. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fox News
04-06-2025
- Business
- Fox News
UAE AMBASSADOR YOUSEF AL OTAIBA: US and UAE forge groundbreaking high-tech partnership based on AI
President Donald Trump's recent visit to the UAE marked a pivotal moment for UAE-U.S. bilateral relations, shining a spotlight on a shared vision for the future. As the UAE and the "New Gulf" pivot from oil to cutting-edge technologies, our partnership with the U.S., rooted in decades of trust, has become a beacon of what's possible when nations collaborate. This trust has paved the way for a bold new chapter: a strategic economic alliance poised to create tens of thousands of high-tech, energy and manufacturing jobs, driving prosperity in both of our countries. At the heart of this collaboration lies the new U.S.-UAE AI Acceleration Partnership. This initiative will advance cooperation in artificial intelligence and other transformative technologies while spurring investment flows between our nations. A cornerstone of this effort is the establishment of a 10-square mile state-of-the-art AI campus in Abu Dhabi, the largest outside the U.S.. With five gigawatts of AI data center capacity, it will act as a vital hub for U.S. hyperscalers or large cloud service providers and large enterprises, serving partners and friends across the region and in the global south. To support this vision, the UAE and U.S. governments have agreed on a pathway for the UAE to acquire advanced American AI semiconductors. A handful of U.S. voices have begun to raise concerns about the security of this technology. The fact is that we understand these concerns and fully agree that access to sensitive technologies comes with great responsibility. Importantly, this new partnership sets a global benchmark for securing advanced U.S. technology. Through the implementation of a "Regulated Technology Environment," approved UAE organizations acquiring regulated US technologies will adhere to extensive physical and cybersecurity protocols. These involve regular audits, third-party validations and active oversight by both nations' governments. The direct involvement of leading U.S. companies further ensures that advanced AI chips and technologies are fully protected from diversion or unauthorized access. This is nothing new. These measures underscore our commitment to a long-term, trusted technology partnership with the U.S. that builds on decades of collaboration. The UAE previously established the Executive Office for Control and Non-Proliferation with the mission to enhance export controls and prevent the unauthorized transfer of dual-use military/civilian items and technologies. For over 25 years, the UAE has deployed cutting-edge American defense technologies, from F-16 fighter jets to THAAD missile systems. And the strict safeguards in a landmark 2009 agreement have enabled the UAE access to U.S. civilian nuclear energy know-how and cooperation. Further confirming this mutual trust, UAE-backed GlobalFoundries manufactures America's most classified microchips for defense and advanced computing in upstate New York and Vermont. As a key part of the new partnership, UAE companies will expand these technology investments into new U.S. data centers, digital infrastructure and energy projects, critical to powering the AI revolution. These measures underscore our commitment to a long-term, trusted technology partnership with the U.S. that builds on decades of collaboration. This partnership is a two-way street. U.S. companies are also doubling down on their presence in the UAE. Microsoft is partnering with G42, Google is launching a Cyber Security Excellence Center in Abu Dhabi, and Raytheon is opening a new UAE production facility. Major U.S. financial institutions, including BlackRock and JPMorgan, have set up shop in Abu Dhabi, while Wynn Resorts and Disney are developing landmark projects in the Emirates. From Abu Dhabi to Atlanta, Dubai to Detroit, and Ras Al Khaimah to Reno, investment is flowing, technology is advancing and businesses are thriving. The recent meeting between President Trump and UAE President His Highness Sheikh Mohammed bin Zayed Al Nahyan wasn't just a celebration of past achievements, it was a launchpad for what's next. This partnership isn't just about quick wins; it's about building a shared future of innovation, opportunity, and prosperity. Together, the UAE and the U.S. are crafting a legacy that will not only benefit our two nations but also inspire progress around the world for decades to come.
