The UAE's G42 will take part in a project worth up to $1 billion to build data centres in Vietnam, it said on Monday, underlining the Gulf state's AI ambitions.
G42, chaired by the UAE president's brother, joins Vietnam's FPT Corp and Viet Thai Group in the consortium to develop three data centres.
The agreement, signed in Ho Chi Minh City, is "backed by consumption commitments of up to $1 billion", a G42 statement said, without specifying the data centres' size.
The oil-rich United Arab Emirates has invested heavily in artificial intelligence infrastructure and expertise as it attempts to become a leading player in the field.
G42, founded in 2018 in the capital Abu Dhabi, has been tasked with developing a one?gigawatt data centre in the desert as part of the Stargate UAE project.
Its shareholders include UAE sovereign wealth fund Mubadala and US tech giant Microsoft, which invested $1.5 billion in 2024.
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