Presight AI acquires majority stake in AIQ, ADNOC's tech joint venture, valuing the company at $1.4bn.
Presight AI Holding, an Abu Dhabi-based AI company, has acquired a majority stake in AIQ, a tech joint venture between ADNOC and G42. Under the new ownership structure, Presight will hold a 51% stake in AIQ with ADNOC retaining a 49% shareholding, valuing the company at $1.4bn. AIQ utilises AI and machine learning to optimise processes, enhance planning, and increase profitability for ADNOC and the wider oil and gas industry.
May 01, 2024
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