{"id":110297,"date":"2025-12-22T00:00:00","date_gmt":"2025-12-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=110297"},"modified":"2025-12-22T09:34:05","modified_gmt":"2025-12-22T09:34:05","slug":"this-morning-is-g42-no-longer-an-investor-in-cerebras-macron-discusses-more-investments-in-ai-energy-and-tech-with-uae-president","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/12\/22\/this-morning-is-g42-no-longer-an-investor-in-cerebras-macron-discusses-more-investments-in-ai-energy-and-tech-with-uae-president\/","title":{"rendered":"THIS MORNING: Is G42 no longer an investor in Cerebras? + Macron discusses more investments in AI, energy, and tech with UAE president"},"content":{"rendered":"

Good morning, friends, and happy final FULL workweek of December. <\/strong>The Christmas news slowdown has come early this year, with only a couple of stories of note coming up over the weekend, including Adnoc\u2019s USD 2 bn green loan from South Korea\u2019s K-Sure. <\/p>\n

Also, we break down why MGX\u2019s investment in the US\u2019 TikTok carve-out is important<\/strong>, and how it signals that MGX is more than just an AI investor. <\/p>\n

One in, one out\u2026 <\/strong>As MGX continues to broaden its portfolio in the US, AI firm G42<\/strong> seems to have divested its stake in US AI chipmaker Cerebras<\/strong> as the company prepares for a Nasdaq listing in 2026. <\/p>\n

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PSA <\/p>\n

\u2601\ufe0fWEATHER- It\u2019s officially winter in Dubai. <\/strong>Expect a cloudy day ahead, with a high of just 23\u00b0C and a low of 15\u00b0C in Dubai, while in Abu Dhabi<\/strong>, the mercury rises to 23\u00b0C with a low of 14\u00b0C in Dubai. <\/p>\n

<\/a> Expect lighter traffic around the Trade Center Roundabout now that two new bridges <\/strong>were launched ahead of schedule<\/strong> as part of a wider AED 696 mn project. Vehicles going from 2nd December Street towards Sheikh Rashid Road and Al Majlis Street Al Mustaqbal Street, and Zabeel Palace Street will benefit from shorter journeys, while three more bridges set to open next year, including one in March between Sheikh Zayed Road and Sheikh Khalifa bin Zayed Street, and two from Sheikh Rashid Road and Al Majlis Street towards 2nd December Street.<\/p>\n

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Watch this space<\/p>\n

<\/a> I<\/strong>NVESTMENT \u2014 G42 no longer an investor in Cerebras? <\/strong>Abu Dhabi-backed AI firm G42 is no longer named as an investor in US AI chipmaker Cerebras Systems in its latest IPO filing, as the firm looks toward a potential New York listing in 2Q 2026, Reuters<\/a> reports, citing people familiar with the matter. No reason was disclosed, but the change comes following a US national security review that looked into G42\u2019s investment in the chipmaker earlier this year. <\/p>\n

The background: <\/strong>G42 has held a 1% stake in Cerebras since 2021 and earlier this year<\/a> agreed to buy USD 335 mn in non-voting shares. The minority stake \u2014 and G42\u2019s role as a major customer \u2014 drew scrutiny from US national security over fears non-US partners could give China indirect access to advanced American AI. We reported earlier that the review delayed<\/a> Cerebras\u2019 IPO, which was later withdrawn.<\/p>\n

De-risking the cap table: <\/strong>Cerebras has since secured clearance from the US Foreign Investment Committee, paving the way for a refiling \u2014 this time without G42 on the shareholder list. Any strategic read-through remains unclear.<\/p>\n

Cerebras still \u2764\ufe0f the UAE: <\/strong>We reported in October that Cerebras plans to expand in Abu Dhabi and Dubai, lifting headcount<\/a> to some 50 engineers from 18 and eyeing 40 MW of computing power in the capital, according to CEO Andrew Feldman. Feldman also said<\/a> the firm plans to deploy \u201cmegawatts worth\u201d of infrastructure for Stargate UAE \u2014 export controls permitting.<\/p>\n

A familiar constraint for G42: <\/strong>G42 had previously recalibrated to meet US security demands \u2014 divesting Chinese holdings<\/a> to unlock American tech and investments, including Microsoft\u2019s USD 1.5 bn<\/a> investment. The same security lens is now shaping progress<\/a> at the UAE-US 5 GW Stargate AI campus<\/a>.<\/p>\n

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<\/a> DIPLOMACY \u2014 France\u2019s Macron in the UAE to talk investment + tech ties:<\/strong> President Mohamed bin Zayed Al Nahyan met French President Emmanuel Macron in Abu Dhabi to discuss expanding cooperation in investment, culture, renewable energy, advanced technology, AI, and sustainability, state news agency Wam<\/a> reports. <\/p>\n

Background:<\/strong> The visit builds on existing UAE-France partnerships across technology and investment. In February<\/a>, the two countries agreed to jointly invest USD 30-50 bn in a 1 GW data center and other AI projects in France, while UAE-based G42 is set to launch a sovereign AI cloud in France<\/a> in the coming months. In October<\/a>, Economy and Tourism Minister Abdulla bin Touq Al Marri met French counterparts in Paris to discuss expanding economic and tourism ties, with a focus on sustainable transport, smart infrastructure, AI, and startup initiatives.<\/p>\n

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The Big Story Abroad<\/p>\n

Oil prices ticked up in Asia this morning after US forces tried to tighten their blockade <\/strong>of oil tankers coming into and out of Venezuela.<\/strong> The US coast guard is reportedly pursuing in international waters a tanker that was heading into Venezuela. The development comes barely two days after it raided a Panama-flagged ship and two weeks after it seized a third. <\/p>\n

It\u2019s otherwise a particularly quiet morning in the global business press <\/strong>\u2014 markets seem already to be sliding into the Christmas week news slowdown. That has the business pages serving up year-end fare including: <\/p>\n