{"id":103297,"date":"2025-05-05T00:00:00","date_gmt":"2025-05-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/this-morning-g42-eyes-tens-of-bns-of-investments-in-the-us-ai-classes-coming-to-uae-schools-next-year\/"},"modified":"2025-05-05T00:00:00","modified_gmt":"2025-05-05T00:00:00","slug":"this-morning-g42-eyes-tens-of-bns-of-investments-in-the-us-ai-classes-coming-to-uae-schools-next-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/05\/05\/this-morning-g42-eyes-tens-of-bns-of-investments-in-the-us-ai-classes-coming-to-uae-schools-next-year\/","title":{"rendered":"THIS MORNING: G42 eyes tens of bns of investments in the US + AI classes coming to UAE schools next year"},"content":{"rendered":"

Good morning, lovely people<\/strong>, and welcome to the start of a new workweek with a host of new conferences in Dubai. We expect another busy week of news as the Dubai Capital Market Summit kicks off tomorrow, alongside the Airport Show today and several other events across the country. <\/p>\n

We\u2019ll be at the DCM summit and would love to meet up if you\u2019re attending<\/strong> \u2014 hit reply to this email if you\u2019ll be there. <\/p>\n

The dominant theme in the issue today<\/strong> is more investments in the US, courtesy of G42 and Hotpack, and more logistics expansions abroad, with AD Ports landing a new concession in Egypt. <\/p>\n

BUT FIRST- We\u2019ve switched up our Planet Finance market table<\/strong> to add three major indices to help you stay on top of the shifting fixed income landscape: the Chimera JPMorgan UAE Bond UCITS ETF, the S&P MENA Bond & Sukuk Index, and VIX. <\/p>\n

\u2600\ufe0f <\/strong>WEATHER<\/strong>- It\u2019s another scorcher across the UAE today. <\/strong>Dubai will see daytime highs of 42\u00b0C, while overnight lows will dip to 30\u00b0C. Abu Dhabi remains slightly cooler, with daytime temperatures peaking at 37\u00b0C and nighttime lows around 29\u00b0C.<\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> #1- <\/strong>Abu Dhabi-b<\/strong>ased AI firm G42 plans to invest USD tens of bns in the US <\/strong>as part of its push to expand in artificial intelligence, the Financial Times<\/a> reports. The company established a legal entity to support its expansion strategy, G42 sources told the paper. Several of its subsidiaries \u2014 including those focused on AI applications, cloud computing, and data centers \u2014 are expected to unveil US business plans in the coming months.<\/p>\n

G42 USA was incorporated in Delaware in January. <\/strong>Meanwhile, its cloud-focused subsidiary, Core42, has already begun setting up operations and preparing to offer services domestically. <\/p>\n

REMEMBER-<\/strong> G42 has been doubling down on the US since Microsoft invested USD 1.5 bn<\/a> for a minority stake in the firm last year, including through cutting off ties with Chinese tech providers like Huawei in light of US scrutiny, and investing<\/a> USD 335 mn in US-based chipmaker Cerebras Systems. The AI firm began receiving AI chips<\/a> from US chipmaker Nvidia after gaining US export approval, signaling deepening tech ties between Abu Dhabi and Washington. <\/p>\n

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<\/a> #2-<\/strong> AI <\/strong>classes are coming to UAE schools next year: <\/strong>Starting next academic year, artificial intelligence will be taught across all stages of government education in the UAE \u2014 from kindergarten to grade 12 \u2014 Prime Minister Sheikh Mohammed bin Rashid Al Maktoum announced in a post on X<\/a>. The subject will cover technical foundations, ethics, data, algorithms, and real-world risks. \u201cOur responsibility is to equip our children for a time unlike ours, with conditions different from ours, and with new skills and capabilities that ensure the continued momentum of development and progress in our nation for decades to come,\u201d the Dubai ruler said. <\/p>\n

This is the latest in a series of recent efforts from the UAE to become an AI hub. <\/strong>The country is working to embed AI across the public sector, with last month<\/a> seeing the Cabinet approve an AI-powered legislative drafting system, while January<\/a> saw Abu Dhabi launch an AED 13 bn digital strategy to become the world\u2019s first AI-native government by 2027. The emirate signed a multi-year sovereign cloud agreement with Microsoft and Core42 in March<\/a> to support the rollout.<\/p>\n

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<\/a> #3- <\/strong>Ras <\/strong>Al Khaimah\u2019s residential stock is set to double by 2030<\/strong>, with upwards of 11k units set to be completed, according to a report (pdf)<\/a> and press release<\/a> from real estate consultancy Savills. The emirate saw AED 11 bn in property sales last year, with projects like the USD 3.9 bn Wynn Al Marjan Island gaming resort<\/a>, set to open in 2027, driving growth and demand for offerings. Tourist numbers rose 5.1% to 1.3 mn visitors in 2024, further fueling the demand for real estate. <\/p>\n

Off-plan sales dominated 2024 transactions<\/strong>, with key developments like Al Marjan Island, Mina Al Arab, and Al Hamra communities seeing an uptick in prices and valuations since 2022. <\/p>\n

The Wynn Al Marjan resort is part of a wider gaming push that could see revenues hit AED 20 bn a year<\/strong>, Savills said, considering it reaches 1.6% of GDP. Morgan Stanley has pegged the figure at USD 3-5 bn<\/a>. <\/p>\n

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<\/a> #4- <\/strong>Trump <\/strong>and Dar Global\u2019s Dubai project to come with 10-year golden visa perk:<\/strong> The Trump Organization and Emirati developer Dar Global\u2019s 80-floor hotel and residential tower project<\/a> in Dubai is set to offer buyers a 10-year golden visa upon a 20% down payment, Al Bayan<\/a> reports. <\/p>\n

ICYMI- <\/strong>The 80-floor tower, set for completion in 2031 and costing USD 1 bn in investments, will be the Trump Organization\u2019s first hotel and tower project in the Middle East.<\/p>\n

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#5- <\/strong>Home <\/strong>ins. premiums in the UAE are up 10\u201315% following last year's <\/strong>record-breaking floods<\/strong>, The National<\/a> reports, citing industry experts. The surge in premiums is attributed to the heightened risk assessments by insurers in the aftermath of the unprecedented rainfall last April<\/a>.<\/p>\n

Ins. premiums in the UAE have been on the rise<\/strong>, with motor ins. rates spiking 15\u201320% y-o-y<\/a> earlier this year. Last May, experts warned of double-digit hikes<\/a> across all vehicle types, driven by reinsurer pressure and mounting flood claims, which weighed on insurer stock prices.<\/p>\n

PSAs- <\/p>\n

#1- You could face fines of up to AED 4k for distributing unauthorized flyers or posters in Abu Dhabi<\/strong>, according to a warning issued by Abu Dhabi\u2019s Department of Municipalities and Transport in a Facebook post<\/a>. Violators face fines of AED 1k for the first offense, rising up to AED 2k for the second and AED 4k for subsequent violations.<\/p>\n

#2- UAE nationals will be allowed to travel to Lebanon starting from Wednesday, 7 May<\/strong>, according to a Foreign Affairs Ministry statement<\/a>, following the lifting of a travel ban<\/a> that coincided with President Joseph Aoun\u2019s visit to Abu Dhabi last week. Travelers must register with Foreign Affairs Ministry\u2019s Twajudi service before departure. <\/p>\n

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HAPPENING TODAY- <\/p>\n

The<\/strong> Dubai<\/a><\/strong>Esports and Games Festival<\/a><\/strong> is <\/strong>running until Sunday, 11 <\/strong>May<\/strong> at<\/strong> Dubai World Trade Center (DWTC). The festival features GameExpo, with interactive gaming zones and esports tournaments, alongside industry discussions on AI and Web3. The event includes networking sessions, workshops, and initiatives to support gaming talent development. <\/p>\n

HAPPENING TOMORROW-<\/strong> <\/p>\n

#1- The <\/strong>Capital Market Summit<\/a><\/strong> will take place tomorrow and Wednesda<\/strong>y, 7 <\/strong>May<\/strong> at Madinat Jumeriah in Dubai. The summit will address IPO growth, global economic forecasts, and digital assets\u2019 role in financial markets. Speakers include UAE ministers and DFM Chairman Helal Saeed Al Marri, and sessions will analyze stock exchange dynamics, virtual assets, and growth capital strategies.<\/p>\n

#2-<\/strong>The<\/strong> Airport Show<\/a><\/strong>,<\/strong> taking place alongside the <\/strong>Global Airport Leaders Forum<\/a><\/strong>,<\/strong> will start <\/strong>tomorrow and run until Thursday, 8 May<\/strong> at Dubai World Trade Center (DWTC). The events will bring together airport and aviation industry professionals to discuss the latest trends in airport infrastructure, emerging technologies, and solutions to industry challenges. <\/p>\n

#3- <\/strong>Seatrade<\/a><\/strong><\/a><\/strong>Maritime Logistics Middle East<\/a><\/strong> is also starting tomorrow and will run until<\/strong> Thursday, 8 May <\/strong>at DWTC. The event will bring together professionals in shipping, logistics, and supply chain management to discuss and debate industry challenges and the latest innovations. <\/p>\n

#4- <\/strong>Gulf<\/a><\/strong><\/a><\/strong>Information Security Expo & Conference<\/a><\/strong> (GISEC Global) is taking place between<\/strong> Tuesday, 6 May and Thursday, 8 May<\/strong> at DWTC. Cybersecurity experts will meet to discuss industry challenges including new cyber threats, security technologies, and solutions for protecting businesses against cyberattacks. Over 750 cybersecurity brands will exhibit their solutions.<\/p>\n

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THE BIG STORY ABROAD-<\/p>\n

It\u2019s a quiet day in the global press<\/strong>, with no one story dominating the headlines.<\/p>\n

A missile fired by Yemen\u2019s Houthis <\/strong>landed<\/a><\/strong> near Israel\u2019s main international airport<\/strong>, causing injuries and disrupting flights after defense systems failed to interrupt the attack. The group has ramped up its missile attacks recently in response to a blockade<\/a> on Gaza that saw no food, fuel or medicine enter the enclave for more than 60 days.<\/p>\n

PM Netanyahu <\/strong>vowed an extensive r<\/strong>e<\/strong>sponse<\/strong> to the Houthi attack<\/strong>, coinciding with wider plans by the military to call up thousands of reservists<\/a> and \u201cgo deeper\u201d into Gaza. Meanwhile, US President Trump said<\/a> that Iran will be held responsible for any further attacks by the militant group.<\/p>\n

ALSO WORTH READING THIS MORNING-<\/strong><\/p>\n