Microsoft-backed AI company G42 seeks billions of dollars in funding and will bring in external capital.

According to Bloomberg, Microsoft-backed AI company G42 has held initial discussions with potential investors to raise billions of dollars, potentially becoming one of the first government-linked artificial intelligence firms in the UAE to expand its capital base through external financing. Sources familiar with the matter stated that the funding amount and deal structure have not yet been finalized, and discussions remain in the exploratory phase. G42 had previously advanced data center projects in Abu Dhabi alongside Microsoft and OpenAI, while also securing backing from Microsoft and other companies.