G42 raised $1.5B in a strategic investment led by Microsoft for the development of AI applications using Microsoft’s cloud services.
Apr 16, 2024•over 1 year ago
Amount Raised
$1.5 Billion
Investors
Matrix Capital ManagementMicrosoft
Description
Microsoft has announced a $1.5 billion strategic investment in G42, a United Arab Emirates-based artificial intelligence firm. The partnership includes the use of Microsoft’s cloud services to run G42's AI applications.
Funding Insights
Based on industry dataVC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers