The News
Abu Dhabi continued its relentless global artificial intelligence investment spree, with a deal signed during UAE National Security Advisor Sheikh Tahnoon bin Zayed’s visit to Washington.
Its latest move — a $25 billion partnership between sovereign wealth fund ADQ, which Sheikh Tahnoon chairs, and US firm Energy Capital Partners — will build 25 GW of power generation and infrastructure in the US to serve data centers, hyperscalers, and other energy-intensive industries.
Global electricity demand is expected to rise by 70% over the next decade, and AI is a big driver. Nvidia CEO Jensen Huang told thousands of fans at the company’s annual conference Tuesday that the appetite for the technology is only growing, and the limiting factor is the raw power needed to run gargantuan data centers.
The UAE has announced major commitments this year. Last month, it agreed to build a data center in Italy and pledged $50 billion in France’s AI sector. Through MGX — backed by Mubadala and G42 — Abu Dhabi is also participating with OpenAI, Oracle, and SoftBank in the $500 billion Stargate project announced by US President Donald Trump in January.