(Bloomberg) Abu Dhabi is setting up a technology investment firm targeting deals in artificial intelligence and semiconductors that could surpass $100 billion in assets under management in a few years, according to people familiar with the matter. Most Read from BloombergOne of the Most Infamous Trades on Wall Street Is Roaring BackStocks Kick Off Key Inflation Week Under Pressure: Markets WrapThese Are the Best Countries for Wealthy Expats‘Oppenheimer’ Wins Seven Oscars Including Best Pictur
Abu Dhabi targets US$100 billion AUM for AI investment firm businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
The emirate on Monday unveiled the company called MGX, led by sovereign wealth fund Mubadala Investment Co. and AI firm G42 as foundational partners. Ahmed Yahia Al Idrissi, whos chief executive officer of Mubadalas direct investments platform, will serve as the new entitys CEO, according to a statement.
Several international companies have named AI-based entities to their leadership structures in recent years. The UAE is seeking to become a world leader in artificial intelligence.
IHC Abu Dhabi Appoints First AI-Powered Board Member In The GCC freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.