{"id":91576,"date":"2024-05-02T00:00:00","date_gmt":"2024-05-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/presight-gets-aiq-majority-stake\/"},"modified":"2024-05-02T00:00:00","modified_gmt":"2024-05-02T00:00:00","slug":"presight-gets-aiq-majority-stake","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/05\/02\/presight-gets-aiq-majority-stake\/","title":{"rendered":"Presight gets AIQ majority stake"},"content":{"rendered":"

Presight snags 51% of AIQ:<\/strong> ADX-listed data analytics firm Presight AI Holding is acquiring a 51% majority stake in AIQ<\/a>, Adnoc\u2019s AI joint venture with G42, a press release (pdf) <\/a>reads. Presight is acquiring the entirety of G42\u2019s 40% stake in AIQ, in addition to 11% of Adnoc\u2019s 60% stake in the JV. The transaction values AIQ at USD 1.4 bn.<\/p>\n

What the acquisition will do:<\/strong> The acquisition aims at combining AI energy solutions with extensive big data analytics, to help Advance Adnocs\u2019 plans to become the \u201cenergy industry\u2019s leading AI company,\u201d Industry Minister and Adnoc CEO Sultan Ahmed Al Jaber, who will assume the role of chairman at AIQ, said.<\/p>\n

AIQ\u2019s AI solutions are currently being commercialized <\/strong>and include safety detecting applications, failure detection systems, and emissions monitoring. Adnoc is currently using several of AIQ\u2019s applications, including remotely-operated equipment and analysis and modeling of borehole data to assist with drilling activities. <\/p>\n","protected":false},"excerpt":{"rendered":"

G42 previously held 40% of AIQ<\/p>\n","protected":false},"author":1,"featured_media":91577,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[57,599,60],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91576","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-adnoc","tag-g42","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"4791a495-5208-4f04-98d3-9af270ad9fa7","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/151.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Presight is acquiring a majority stake in Adnoc-G42 AI venture AIQ","related_issue":[91570],"teaser":"G42 previously held 40% of AIQ","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/5\/.6b4fc2be-2ff7-4ae6-a208-10a8ed75aa8c.mp3"},"yoast_head":"\nPresight gets AIQ majority stake - 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