Qualcomm joins NextGen FDI: US-based AI and machine learning firm Qualcomm has become the latest tech player to join the UAE’s NextGen FDI programme, state news agency Wam reports. Established in 2022, the program aims to attract global tech players to the Emirates.

Qualcomm? Multinational tech player Qualcomm manufactures chips and software for telecom devices. They’re especially known for their Snapdragon semiconductor products that are used in embedded systems including smartphones. In 2024, it was in talks to acquire Intel and has predicted revenues for 1Q 2025 of up to USD 11.2 bn, the company told Bloomberg.

What we know about Qualcomm’s plans in the UAE: Qualcomm’s integration into the program will see it expand its presence in Abu Dhabi. Funding for local Emirati startups is also in the cards, with Qualcomm’s investment arm Qualcomm Ventures set to provide support for early-stage AI, 5G, automotive, Cloud, Enterprise, and IoT firms, including early-stage startups involved in the program. Startups already within Qualcomm Ventures’ 150 strong portfolio will also be supported in their Emirati and regional expansion efforts.

This isn’t Qualcomm’s first venture into the Emirates, with the tech player partnering with G42 on its AI services platform Compass 2.0 last summer and on its Condor AI platform earlier that year. Core42, G42 ’s sovereign cloud and AI infrastructure subsidiary, also just recently launched an AI Developer Playground in collaboration with Qualcomm, according to a separate press release. Built on Qualcomm’s Cloud AI 100 chips, AI inference suite, and accelerators, the platform provides developers and AI engineers with AI applications, agents, tools, and libraries to build and scale AI solutions.

Good news for the UAE’s AI ambitions: The addition of the tech giant is a significant development in the UAE’s strategy to position itself as an AI hub. For its part, Qualcomm may be exploring other markets after the US government banned it from selling chips to Huawei last year.

The first of many? Other big names have been reported to be setting up chipmaking operations here. We heard back in September that chip manufacturer Taiwan Semiconductor Manufacturing (TSMC) and Samsung were talking with UAE officials about setting up a chipmaking complex in the Emirates. Earlier in 2024, OpenAI was also said to be considering a semiconductor venture.

However, establishing a chipmaking industry in the UAE could face some challenges, including water shortages, with the manufacturing process requires large amounts of highly purified water.

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