UAE
Presight plans international expansion of its AI business
Abu Dhabi is sharpening its focus on AI and digital services as part of a multi-billion-dollar push to diversify its economy. Backed by Abu Dhabi-based AI powerhouse G42, Presight has announced plans to nearly double its overseas revenue, targeting new opportunities across the Gulf, Latin America, Southeast Asia, and Central Asia. Last year, Presight’s sales more than tripled to AED 508 million, driving a 24% increase in overall revenue. The company also secured a $1.5 billion investment from Microsoft to develop AI tools for public services, energy, education, and smart cities. The company has also launched an AI startup accelerator, targeting early-stage ventures around the world. The programme offers up to $200,000 to a startup, as well as mentorship and access to G42’s infrastructure, allowing Presight to gain early exposure to intellectual property and equity in future tech companies…Read more
Awqaf Abu Dhabi considers data centre investment amid push into defensive sectors
The Director General of Awqaf Abu Dhabi – also known as the Endowment and Minors’ Fund Authority – has announced that the organization is open to investing in data centres as part of a broader push into defensive sectors, aimed at protecting assets from economic shocks. Defensive sectors are defined as those that deliver stable and consistent dividends and earnings, regardless of market conditions. Data centres would give Awqaf Abu Dhabi exposure to energy and utilities, key defensive industries, and are expected to generate reliable revenue streams. The authority also plans to leverage emerging technologies, including AI, to support more effective asset management…Read more
Middle East
AWS partners with Manara to develop talent across MENA
AWS has announced its collaboration with Manara, a social impact technology startup, to launch an ambitious upskilling/training initiative in the region. The project, backed by an investment of $3.6mn over the next two years (AWS), will focus on providing 2,500 software engineers, data scientists, and AI engineers with training in cloud computing, AI skills, and AWS services to equip them with the skills needed to succeed in the current market’s tech-driven economy. Both companies believe the region is poised to become a major technology hub in the coming decade, a vision supported by AWS’ $5.3bn investment in KSA earlier this year, and are committed to accelerating the development of top tech talent across MENA…Read more
KKR expands Middle Eastern presence with new investment team
US private equity firm KKR has appointed a new Chairman and Managing Director for its Middle East operations, alongside the launch of a dedicated regional investment team focused on unlocking new opportunities across the Gulf. This move aligns with a broader trend of global private equity groups deepening their presence in the region, as Gulf governments roll out ambitious investment programs to diversify their economies beyond oil. KKR, which has a track record in data centre investments, recently backed Gulf Data Hub (GDH). Upon completion of the deal, KKR and GDH committed to supporting over $5bn in total investment to strengthen GDH’s market position and drive its international expansion. The newly established team will focus on identifying investment and partnership opportunities across GCC markets…Read more