Page 473 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

2/28/25, 2:59 PM Qualcomm joins UAE’s NextGen FDI programme
low-power computing and AI.

Recently, Qualcomm Technologies has collaborated with UAE-based AI firm G42 to integrate its 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.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, 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://www.zawya.com/en/business/technology-and-telecom/qualcomm-joins-uaes-nextgen-fdi-programme-n2u7pyha 2/3