tl;dr
Tech giant Microsoft (NASDAQ:MSFT) will invest $1.5B for a minority stake in UAE-based AI firm G42 to bring advanced AI and digital infrastructure to markets across the Middle East, Central Asia, and Africa. Under this partnership, Brad Smith, vice chair and president of Microsoft (MSFT), will join ...
Tech giant Microsoft (NASDAQ:MSFT) will invest $1.5B for a minority stake in UAE-based AI firm G42 to bring advanced AI and digital infrastructure to markets across the Middle East, Central Asia, and Africa. Under this partnership, Brad Smith, vice chair and president of Microsoft (MSFT), will join G42's board of directors. The companies will support the establishment of a $1B fund for developers to support the development of a skilled and diverse AI workforce and talent pool. G42 will run its AI applications and services on Microsoft (MSFT) Azure, and provide AI solutions to major corporations and public sector clients. The commercial partnership is backed by assurances to the U.S. and UAE governments to comply with U.S. and international trade, security, responsible AI, and business integrity laws. The two companies first partnered in April 2023 to explore acceleration of UAE's digital transformation, later announcing that they would work together on sovereign cloud offerings and advanced AI capabilities, and the expansion of UAE's existing data center infrastructure.
More about Microsoft Corporation
Microsoft Corporation is an American multinational technology company that produces computer software, consumer electronics, personal computers, and related services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers. Microsoft ranked No. 21 in the 2020 Fortune 500 rankings of the largest United States corporations by total revenue. It was the world's largest software maker by revenue as of 2016. It is considered one of the Big Five companies in the U.S. information technology industry, along with Google, Apple, Amazon, and Facebook.
Industry: Technology
Sector: Services-Prepackaged Software
Market Cap: 313.49 billion
Current Price: $38.15
Change: 2.86
Change (%): 11.06%
52-Week High: $30.61
52-Week Low: $0.363
Volume: 227,583,001
Average Volume: 1,000,000
Price-Earnings Ratio: 462.06
EPS: 0.332
Dividend Yield: 0.176%
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