UAE's Core42 Secures $550M to Boost Global AI Infrastructure
Core42, an Abu Dhabi-headquartered AI infrastructure operator and part of G42, secured $550 million in structured trade finance from HSBC. This funding will support its global expansion of AI cloud infrastructure, strengthening the broader AI ecosystem.
Core42, an AI infrastructure operator based in Abu Dhabi and a subsidiary of G42, has successfully raised $550 million. These structured trade finance facilities were secured through HSBC.
This significant capital injection is designated for Core42's global expansion plans, specifically to scale its AI cloud infrastructure across the US and Europe. The investment highlights the UAE's strategic focus on becoming a global leader in AI development and foundational technology, which can benefit the wider startup community requiring robust AI infrastructure.