Latest news with #MohamedbinZayedal-Nahyan
IOL News
19-06-2025
- Business
- IOL News
BRICS+ Series: Gulf Capital Powers BRICS+ Future
UAE President Sheikh Mohamed bin Zayed al-Nahyan (rear L) and French President Emmanuel Macron (rear R) look on as France's Minister for Europe and Foreign Affairs Jean-Noel Barrot (R) and CEO of Mubadala Investment Company Khaldoon Al Mubarak (L) sign an agreement on AI during a ceremony as part of Zayed al-Nahyan's visit to France at the presidential Elysee palace in Paris, on February 6, 2025. Global experts will debate threats from artificial intelligence (AI) at a gathering in Paris on February 6-7, 2025, ahead of a summit of world leaders on the fast-moving technology. In recent years, capital from the Arabian Gulf has become an increasingly significant force in shaping the infrastructure and digital landscapes of emerging markets. While historically known for oil and gas wealth, Gulf states are now repositioning themselves as global investment hubs with a clear focus on technology, infrastructure, and sustainable development. Nowhere is this shift more evident than in the wave of Gulf-funded data centre projects emerging in BRICS+ nations—highlighting a powerful opportunity for deeper cooperation across the Global South. A compelling example of this new dynamic is unfolding in Turkey, a prospective BRICS+ partner and regional digital leader. The Turkish e-commerce platform Trendyol has entered into a landmark partnership with UAE-based Castle Investments, led by Gulf Data Hub founder Tarek Al Ashram, to build a state-of-the-art data centre in Ankara. Valued at $500 million, the facility will eventually host 48 megawatts (MW) of computing capacity. Sixty percent of that capacity will be dedicated to Trendyol's own operations, while the remainder will support external clients. As Trendyol President Çağlayan Çetin put it, the project reflects the company's "confidence in Turkey's strong digital ecosystem" and underscores its commitment to local and regional expansion. The project is only the beginning. Gulf financial institutions such as Dubai Islamic Bank and Emirates NBD have extended substantial credit lines to Turkcell, one of Turkey's largest telecom providers. These loans—totaling more than $263 million—are aimed at expanding Turkcell's infrastructure and boosting its data centre capabilities. Meanwhile, Khazna Data Centres, based in Dubai, has also confirmed its investment in the Ankara data hub and announced plans to build an artificial intelligence (AI) facility with up to 100MW of capacity. Infrastructure Investment as a Pathway to Industrialisation These developments illustrate how Gulf capital is helping to scale up critical digital infrastructure in Turkey, with ripple effects that promise to boost entrepreneurship, industrial capacity, and regional integration. This model offers critical lessons for BRICS+ nations seeking to mobilise cross-border investment aligned with their development priorities. One of the most immediate impacts of Gulf investment is its role in closing the infrastructure gap across BRICS+ countries. In many of these economies, outdated or underdeveloped infrastructure remains a constraint on growth and innovation. The injection of Gulf capital, particularly into high-impact sectors like telecommunications, logistics, and clean energy, can help fast-track infrastructure modernisation. These investments are not just financial; they often come bundled with operational expertise, technology transfers, and long-term partnerships that contribute to sustainable industrial growth. The Turkish example, where Gulf-backed data hubs are accelerating digital transformation, is a case study in how targeted infrastructure finance can act as a multiplier for broader economic development. Fueling Digital Ecosystems and South-South Cooperation Beyond infrastructure, Gulf investments are enabling the diffusion of cutting-edge technologies that support industrialisation and inclusive innovation. By establishing high-performance data centres and AI facilities, investors are laying the foundation for BRICS+ countries to harness the full potential of the Fourth Industrial Revolution. These platforms create environments in which startups, SMEs, and research institutions can flourish. According to Gökhan Say, CEO of CyBridge Capital, the more infrastructure that is built, "the more players entering the market," leading to dynamic ecosystems that empower local innovators and facilitate global integration. In Turkey, such developments are already creating cost-effective pathways for start-ups to scale globally, a pattern that could be replicated across Africa, Latin America, and Asia. At a geopolitical level, Gulf-BRICS+ investment partnerships signify a profound shift toward a more balanced and multipolar world order. As traditional Western capital flows become more risk-averse or politically conditional, countries within the Global South are increasingly turning to one another for financing, expertise, and development cooperation. The growing involvement of Gulf investors in BRICS+ economies aligns with this broader movement toward South-South collaboration. These investments offer financial autonomy while reinforcing the strategic ties that underpin the BRICS+ framework. By investing in infrastructure and technology in allied regions, the Gulf states not only diversify their own economies but also contribute to building a more resilient and interconnected Global South. The Gulf's deepening role in BRICS+ investment is more than opportunistic finance—it is a strategic lever for economic transformation. By targeting high-growth sectors like digital infrastructure, AI, and clean energy, Gulf investors are helping to realise the developmental aspirations of the BRICS+ group. The partnership between Trendyol and Castle Investments is not just about data—it's about a new architecture of cooperation where capital, technology, and trust flow southward, redefining the future of global development. Written by: *Dr Iqbal Survé Past chairman of the BRICS Business Council and co-chairman of the BRICS Media Forum and the BRNN *Chloe Maluleke Associate at BRICS+ Consulting Group Russian & Middle Eastern Specialist **The Views expressed do not necessarily reflect the views of Independent Media or IOL. ** MORE ARTICLES ON OUR WEBSITE ** Follow @brics_daily on Twitter for daily BRICS+ updates and instagram @brics_daily
Yahoo
07-02-2025
- Business
- Yahoo
France and UAE partner on 1GW AI data centre
The government of France and the United Arab Emirates (UAE) have agreed on a joint framework agreement for a new 1GW AI data centre. The project represents investments between $30bn and $50bn, reported Reuters. The deal has been reached during a meeting between French President Emmanuel Macron and his Emirati counterpart, Sheikh Mohamed bin Zayed al-Nahyan. The framework agreement outlines investments from a consortium of Franco-Emirati entities, with the objective of establishing a 1GW AI campus in France. A formal announcement regarding the first tranche of investment is scheduled for the Choose France 2025 Summit. As part of the agreement, the countries seek to enhance cooperation in AI, focusing on joint projects and investments aimed at strengthening the AI value chain. This includes funding for AI-driven initiatives in both France and the UAE, as well as the procurement of advanced semiconductor chips, development of data centres, and talent cultivation. Additionally, the agreement provides for the creation of virtual data embassies, which will support sovereign AI and cloud infrastructure advancements in both nations. Meanwhile, the French government reportedly confirmed that it has identified 35 locations suitable for hosting AI data centres. In April 2024, the UAE's Technology Innovation Institute introduced next generation of its Falcon AI models which is said to outperform Meta's Llama 3 model. Falcon 2 11B and 2 11B VLM were released as open source, making their code accessible to developers globally with unrestricted access. Falcon 2 11B VLM features visual-to-language capabilities. This allows analysing images and generate captions to describe the contents of an image. "France and UAE partner on 1GW AI data centre" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Gulf Business
07-02-2025
- Business
- Gulf Business
France, UAE agree to develop 1 gigawatt AI data centre
France and the UAE agreed on Thursday to a framework accord for a 1 gigawatt data centre dedicated to artificial intelligence that represents investments of between $30-$50bn, the French presidency said. President Emmanuel Macron hosted his Emirati counterpart Sheikh Mohamed bin Zayed al-Nahyan on Thursday evening ahead of a summit on artificial intelligence in Paris next week that will gather around 100 countries to focus on AI's potential. The February 10-11 summit also aims to put France and Europe on the AI map as they try to rival the US and China, which have taken a lead on the energy-intensive technology. 'The two leaders expressed their desire to create a strategic partnership in the field of AI and committed to exploring collaborations on projects and investments supporting the development of the AI value chain,' a joint Franco-Emirati statement said. They said the investments would be in both French and Emirati AI, the acquisition of cutting-edge chips, data centres, talent development, as well as the establishment of virtual data embassies to enable the establishment of sovereign AI and cloud infrastructures in both countries. An announcement on the first investments will be made at the Choose France summit later this year. The French government earlier on Thursday said it had located 35 sites to host AI data centres.
Reuters
06-02-2025
- Business
- Reuters
France, UAE agree to develop 1 gigawatt AI data centre
PARIS, Feb 6 (Reuters) - France and the United Arab Emirates agreed on Thursday to a framework accord for a 1 gigawatt data centre dedicated to artificial intelligence that represents investments of between $30-$50 billion, the French presidency said. President Emmanuel Macron hosted his Emirati counterpart Sheikh Mohamed bin Zayed al-Nahyan on Thursday evening ahead of a summit on artificial intelligence in Paris next week that will gather around 100 countries to focus on AI's potential. The February 10-11 summit also aims to put France and Europe on the AI map as they try to rival the U.S. and China, which have taken a lead on the energy-intensive technology. "The two leaders expressed their desire to create a strategic partnership in the field of AI and committed to exploring collaborations on projects and investments supporting the development of the AI value chain," a joint Franco-Emirati statement said. They said the investments would be in both French and Emirati AI, the acquisition of cutting-edge chips, data centres, talent development, as well as the establishment of virtual data embassies to enable the establishment of sovereign AI and cloud infrastructures in both countries. An announcement on the first investments will be made at the Choose France summit later this year. The French government earlier on Thursday said it had located 35 sites to host AI data centres.
