Page 469 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

Cloud AI products into G42’s Core42.

In addition to establishing a presence in Abu Dhabi, Qualcomm Technologies will also support with
the NextGen FDI initiative through its investment arm Qualcomm Ventures, which focuses on early
to growth-stage companies across sectors such as 5G, AI, automotive, IoT, and Cloud and
Enterprise.

The collaboration will involve assessing and potentially investing in promising NextGen FDI
startups, and the NextGenFDI initiative will provide support to any Qualcomm Ventures' portfolio
companies looking to expand in the UAE and the region.

Qualcomm Ventures boasts more than 150 active portfolio companies and numerous successful
exits.

Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, welcomed the onboarding of
Qualcomm Technologies as a major milestone for the UAE's NextGen FDI Programme, offering a
significant boost to the nation's innovation ecosystem and economic efforts to become a global
technology hub.

Al Zeyoudi said, “We met Qualcomm at CES 2025 in Las Vegas and were pleased to know of their
plans for the UAE. Qualcomm’s innovations in 5G, AI, and the Internet of Things are already playing
a crucial role in advancing our digital transformation and we are excited about the potential to
extend their impact through the NextGen FDI initiative. The UAE’s digital ambitions require the
contribution of leading global entities and Qualcomm Technologies can support the development
of our 5G and AI capabilities, which will provide a new range of possibilities for businesses,
consumers, and government services. Qualcomm Technologies' greater presence here will
underpin our position as a global centre for innovation and technology and accelerate our digital
transformation journey.”

On behalf of Qualcomm Technologies, Akash Palkhiwala, Chief Financial Officer and Chief
Operating Officer, stated, “Qualcomm is proud to be present now in Abu Dhabi and to support the
NextGen FDI initiative. The latest advancements in 5G, AI, and the Internet of Things are the
catalysts for technology ecosystem growth. Qualcomm’s presence in Abu Dhabi puts us at the
centre of helping advance the UAE’s digital ambitions. Qualcomm is already working closely with
UAE companies to drive local and global technology solutions based on our solutions; most
recently Core42 announced the launch of its Inference as a Service powered by Qualcomm Cloud
AI Accelerators and Inference Suite, and we look forward to seeing even more collaborations in the
future.”

https://en.aletihad.ae/news/business/4553214/qualcomm-joins-uae-s-nextgen-fdi-programme-to-
drive-advancem