Qualcomm joins UAE’s NextGen FDI to expand in Abu Dhabi
Qualcomm partners with UAE to support AI, 5G, and IoT startups
#UAE #investment - Qualcomm, a leading US-based developer of wireless technologies and AI computing, has joined the UAE Ministry of Economy’s NextGen FDI initiative to expand its presence in Abu Dhabi and strengthen collaboration with local ecosystem players. The US company will also support the NextGen FDI initiative through its investment arm Qualcomm Ventures, which plans to invest in high potential NextGen FDI startups with a focus on 5G, AI, automotive, IoT, and Cloud and Enterprise. Qualcomm recently announced a partnership with Abu Dhabi-based AI powerhouse G42 group to boost AI inference performance.
SO WHAT? - Qualcomm has significantly ramped up its activity in the Middle East appointing a new president for the Middle East and Africa early last year. The US firm also began a collaboration with Core42 to incorporate Qualcomm's Cloud AI 100 products in its Condor Galaxy AI supercomputing platform. At LEAP25 last week in Riyadh, Qualcomm and Saudi Data and Artificial Intelligence Authority (SDAIA) announced a first-of-its-kind fully integrated AI personal computer with on-device AI and seamless hybrid AI cloud access.
Here are some key points from the Qualcomm-NextGen FDI announcement:
Qualcomm Technologies, a global leader in wireless technology, semiconductors, and AI, has officially joined the UAE’s NextGen FDI initiative to expand its presence in Abu Dhabi.
Qualcomm recently partnered with UAE-based AI company G42 to integrate its Cloud AI products into Core42 ’s sovereign cloud and AI infrastructure offerings.
Earlier this week, Core42 launched a free-to-access AI Developer Playground in partnership with Qualcomm, providing inferencing-as-a-service.
Through Qualcomm’s deal with NextGen FDI, Qualcomm Ventures, the company will assess and potentially invest in promising tech startups within the NextGen FDI programme.
Qualcomm Ventures’ portfolio includes over 150 active companies, with a focus on 5G, AI, automotive, IoT, cloud computing, and enterprise solutions.
The UAE Ministry of Economy sees Qualcomm’s presence as a major milestone in developing the country’s 5G and AI infrastructure.
ZOOM OUT - The UAE has positioned itself as a premier destination for AI and digital transformation investments, with initiatives like NextGen FDI attracting major players such as Google, Microsoft, and now Qualcomm. This move aligns with the UAE’s broader economic diversification strategy, which focuses on technology, innovation, and knowledge-based industries. As global AI and 5G adoption accelerates, partnerships with leading firms like Qualcomm will further cement the UAE’s role as a key player in the future of digital economies.
Launched in 2022, NextGen FDI is a programme designed by the UAE Ministry of Economy to attract high-potential digitally enabled global businesses to set-up in the country. The programme fast-tracks how foreign businesses set themselves up in the UAE, speeding up incorporation processes, licensing; facilitating the issuance of visas; accelerating banking services; and providing commercial and residential lease incentives. Earlier this month NextGen FDI announced that Sydney-based AI company DoxAI had received a business licence under the programme.