California-based AI startup CoreWeave has raised $900 million in funding, backed by Saudi Arabia-affiliated investment firm Mubadala. CoreWeave specializes in providing cloud infrastructure for compute-intensive tasks like AI and machine learning. The investment signals growing Saudi interest in AI infrastructure and capabilities. Why it matters: This move could accelerate AI development in Saudi Arabia by providing access to specialized computing resources.
Investments from Middle Eastern sovereign wealth funds, including Abu Dhabi's Mubadala and Saudi Arabia's PIF, are increasingly fueling AI initiatives in Silicon Valley and Wall Street. These funds are backing companies like Microsoft, which is building a $100 billion AI supercomputer, and investing in AI-focused hedge funds. The investments reflect a strategic move to diversify economies and gain influence in the rapidly growing AI sector. Why it matters: The trend highlights the growing importance of Middle Eastern capital in shaping the future of AI development and deployment globally.
Mubadala's assets have reached $385 billion, underscoring the significant financial scale of UAE sovereign wealth funds. This growth highlights the increasing global economic influence of the United Arab Emirates as a major investment player. The substantial asset base positions UAE funds at the forefront of international investment and strategic economic diversification efforts. Why it matters: This immense capital base provides the UAE with a strong foundation to fund strategic initiatives, including advancements in artificial intelligence, across various sectors.
Sultan Al Mansoori (Mubadala) and Hind Almarzooqi (Abu Dhabi Pension Fund), professionals in the UAE, are part of the inaugural cohort of the Master in Applied Artificial Intelligence (MAAI) program at MBZUAI. They aim to leverage AI for national priorities and establish Abu Dhabi as a global AI hub. The program focuses on practical AI application and addresses a critical skills gap between AI innovation and real-world implementation. Why it matters: This highlights the UAE's strategic investment in AI talent development and its ambition to lead in AI application across various sectors.
MBZUAI held an appreciation ceremony recognizing over 30 industry partners for their collaboration in building the AI ecosystem in Abu Dhabi. The event included panel discussions on AI's potential in healthcare and sustainability, featuring speakers from Mubadala Healthcare, Sheikh Shakhbout Medical City, and the Department of Health – Abu Dhabi. Faculty discussed advancements in NLP and MBZUAI's role in developing Jais and Jais Climate, along with progress in computer vision and machine learning. Why it matters: This event highlights MBZUAI's commitment to fostering partnerships that advance AI research and applications, particularly in areas crucial to the UAE's strategic priorities like healthcare and climate change.
MBZUAI hosted its first in-person Opportunities Fair on September 7, connecting graduate students with 38 employers from various industries. Companies like ADNOC, Mubadala, DP World, G42, and McKinsey participated in the event, which included an exhibition and career development workshops. MBZUAI ranks 24th globally in AI, computer vision, machine learning, and NLP. Why it matters: This fair highlights the growing demand for AI talent in the UAE and MBZUAI's role in supplying qualified graduates to meet this demand.