Microsoft invests $1.5B in UAE's G42 to counter China's tech influence in the Gulf region

Welcome to AI Disruptor! If you want to join our growing community of readers, click the button below.

TODAY’S TOP STORIES:

🤝 Microsoft invests $1.5B in UAE's G42 to counter China's tech influence in the Gulf region

💰 Evolution Equity Partners secures $1.1B for cybersecurity and AI investments

+ Other quick AI developments you should know…

🤝 Microsoft invests $1.5B in UAE's G42 to counter China's tech influence in the Gulf region

Main Story: Microsoft has announced a significant investment in G42, an artificial intelligence company based in the United Arab Emirates. The deal, facilitated by the Biden administration, is designed to counter China's growing technological influence in the Gulf region and beyond.

Dive deeper:

• The partnership allows G42 to sell Microsoft services that use advanced A.I. chips, crucial for training and refining generative A.I. models.
  

• G42 will adopt Microsoft's cloud services and adhere to a U.S. government-negotiated security arrangement.
  

• The security arrangement encompasses safeguards on shared A.I. products and a commitment to eliminate Chinese equipment from G42's operations.
  

• The investment aims to bolster U.S. influence in the Gulf region while demonstrating how U.S. companies can use their A.I. technological edge to attract countries away from Chinese tech.
  

• As part of the deal, G42 has consented to reduce its ties with China, including partnerships with Chinese companies and employees from government-linked firms.

Industry impact: The Microsoft-G42 deal underscores the escalating rivalry between the United States and China for technological dominance in the Gulf region, where substantial investments in A.I. technology are anticipated. The agreement may serve as a model for future U.S.-driven partnerships in the region as nations aim to diversify their economies and invest in pioneering technologies.

💰 Evolution Equity Partners secures $1.1B for cybersecurity and AI investments

Main Story: Evolution Equity Partners, a growth capital investment firm, has secured $1.1 billion for its third fund, Evolution Technology Fund III. The oversubscribed fund will target investments in cybersecurity companies and startups using machine learning and AI to create industry-leading platforms.

Dive deeper:

• The fund has already invested in 15 cybersecurity companies and plans to invest in up to 30 companies in total.
  

• Evolution will collaborate with management teams and founders, offering guidance in various areas to drive growth and success.
  

• Evolution's investment strategy allocates 75% of the fund to early-growth-stage companies, 15% to later-growth-stage startups, and 10% to earlier-stage VC investments, focusing on North America, Europe, and Israel.
  

• ESG (environmental, social, and governance) factors will play a significant role in Evolution's investment decisions and ownership practices, with the firm working closely with portfolio companies to promote diversity in boards and leadership teams.
  

• Founded in 2008, Evolution has a global presence and manages around $2 billion in assets, having backed 60 companies to date, with notable investments in Arctic Wolf, Talon Cyber, Snyk, Aqua Security, SecurityScorecard, and Carbon Black.

Industry impact: The successful raise of Evolution's $1.1 billion fund indicates a positive outlook for the cybersecurity industry, despite recent slowdowns in investment. The fund's emphasis on AI and machine learning in cybersecurity could spur innovation and growth in the sector while also highlighting the growing significance of ESG considerations in the investment landscape.

Some other quick developments you should know…

🤖 Instagram tests AI-powered chatbot for influencers to interact with fans

Instagram is pitching popular influencers on a program that relies on artificial intelligence to interact with fans, the latest example of how Meta, Instagram's parent company, is trying to expand the technology across its products.

🎵 Amazon Music introduces AI-powered playlist feature, Maestro

Amazon Music is following in Spotify's footsteps by introducing Maestro, a generative AI-powered playlist feature. Currently available in beta to a select group of Amazon Music users in the US on iOS and Android, Maestro allows users to create personalized playlists using natural language prompts.

🤖 Boston Dynamics retires Atlas humanoid robot, hinting at new developments

Boston Dynamics has officially retired its Atlas humanoid robot, despite the growing interest and funding in the humanoid robotics industry. The decision likely points to the company's shift towards commercializing its technologies and exploring new avenues in the humanoid robotics space.