Mubadala ties up with US firm Together AI for UAE investment opportunities

Abu Dhabi's sovereign wealth fund, Mubadala Investment Company, has teamed up with US firm Together AI to explore investment opportunities in the UAE's artificial intelligence sector. The partnership aims to identify and foster AI development and deployment in the Arab world's second-largest economy, as stated in a Mubadala announcement on Tuesday. The collaboration will see Together AI establish a presence in Abu Dhabi, enhancing its inference and research capabilities for AI developers in the UAE and the wider region.

Mubadala's executive director, Ali Al Mheiri, emphasized the company's focus on attracting leading technology firms, enhancing local capabilities, and creating an environment for innovation to transition from research to practical application. The AI push in the UAE, as part of its National Strategy for Artificial Intelligence 2031, has seen the establishment of start-ups, partnerships, and investments from industry leaders such as Microsoft, Nvidia, and OpenAI.

Mubadala's involvement in the AI sector extends beyond this partnership, with the fund already participating in Together AI's series C financing round in July alongside other global technology and financial investors. The UAE's $385 billion portfolio, managed by Mubadala, spans six continents across various asset classes, with a particular focus on sectors including renewables, mobility, advanced technology, AI, and life science.