XM does not provide services to residents of the United States of America.

UAE's AI firm G42 and Nvidia to team up on climate tech



<html xmlns="http://www.w3.org/1999/xhtml"><head><title>UAE's AI firm G42 and Nvidia to team up on climate tech</title></head><body>

By Federico Maccioni

DUBAI, Sept 20 (Reuters) -United Arab Emirates-based artificial intelligence company G42 has teamed up with U.S. chipmaker Nvidia NVDA.O to work on climate tech, G42 said on Friday, ahead of the first-ever visit to the White House by a president of the UAE next week.

The Gulf-based company said in a statement the two firms would work together develop AI solutions aimed at boosting weather forecasting accuracy globally and will set up an operational base and climate tech lab in Abu Dhabi.

The UAE, led by government-backed G42, is investing heavily in AI to help diversify its economy away from oil and UAE-based companies have forged several deals with U.S. firms recently.

Microsoft MSFT.O announced in April it was investing $1.5 billion in G42, while this week the two firms said they would open two centres in Abu Dhabi.

Abu Dhabi-backed investment company MGX is also joining as a general partner in a $30 billion fund with BlackRock BLK.N and Microsoft to invest in AI infrastructure.

Still, Washington has been increasingly concerned about the UAE and other Middle Eastern countries becoming a conduit for advanced U.S. AI technology reaching China. Last year it imposed new curbs on AI chip exports, imposing a licensing requirement on their shipment to these countries.

UAE President Sheikh Mohammed bin Zayed Al Nahyan is scheduled to visit Washington on Monday.

He will meet U.S. President Joe Biden and discuss Middle East regional security issues as well as advanced technology and AI development, the White House said.

He is also set to meet with Vice President Kamala Harris as well as business executives, Anwar Gargash, diplomatic adviser to the UAE's president told journalists in a briefing on Thursday, adding that the main focus of the visit would be economy and cooperation in fields such as AI.

"Sometimes people like to talk about some tensions in the relationship, but the big story is that this is our most important strategic relationship," Gargash said.











Reporting by Federico Maccioni

</body></html>

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.