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UAE solidifies global tech hub status through semiconductor partnerships

Mon 10 Jun 2024    
EcoBalance
The Brew News Team | < 1 min read

Abu Dhabi: UAE is cementing its role as a global tech and AI hub, with a focus on advanced semiconductor manufacturing. This vision relies on international partnerships, recognizing semiconductors as vital for future innovation.

The UAE’s journey into semiconductors began with the establishment of GlobalFoundries in 2009 through Mubadala Investment Company, a key player in the nation’s economic diversification. GlobalFoundries, now a NASDAQ-listed leader, solidified UAE’s position in the semiconductor world.

Strategic partnerships are crucial to meet the global demand for advanced chips, essential in various technologies from smartphones to medical equipment. The UAE aims for a proactive approach to ensure a balance between supply and demand.

Also read: Clean energy projects by DEWA boost UAE’s climate action efforts

MGX, a tech investment firm led by the Artificial Intelligence and Advanced Technology Council (AIATC), further boosts the UAE’s tech ambitions. With Mubadala and G42 as core partners, MGX focuses on AI infrastructure and semiconductors, showcasing UAE’s commitment to tech for societal betterment.

Mubadala’s history in transformative tech investments, coupled with G42’s AI expertise, makes UAE an attractive destination for investors and talent.

By nurturing partnerships and fostering innovation, UAE is on track to lead the global tech hub landscape in semiconductor.

The Semiconductor Industry Association (SIA) reported a 15.8% increase in global semiconductor sales in April 2024 compared to the previous year. The industry forecast predicts a 16.0% sales increase in 2024, driven by growth in the Americas market. John Neuffer, SIA’s president, emphasized positive market momentum, highlighting the importance of continued growth and innovation in the semiconductor sector.


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