Functional Brands closes $8 million private placement and completes Nasdaq listing
Investing.com -- Microsoft and Abu Dhabi’s G42 announced a 200-megawatt expansion of data center capacity in the United Arab Emirates on Wednesday, as part of an over $15 billion investment commitment by the U.S. tech giant in the Gulf country.
The expansion will be delivered through Khazna Data Centers, a G42 unit, and is expected to begin operations before the end of 2026, according to a joint statement from the two companies.
Microsoft revealed earlier this week that its investment in the UAE will reach $7.3 billion between 2023 and the end of 2025, with an additional $7.9 billion planned for 2026-2029.
The company also announced that President Donald Trump’s administration had approved the export of advanced NASDAQ:NVDA chips for its data centers in the UAE, which has been investing billions to establish itself as a global AI hub.
According to the joint statement, the expansion will provide additional AI and cloud infrastructure to the UAE, "strengthening Microsoft Azure’s secure, scalable, and sovereign cloud services."
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
