Page 483 - MOE ENGLISH PR REPORT - FEBRUARY 2025 Part 1

Founded in San Diego, California, Qualcomm Technologies is a major player in wireless technology
and semiconductors and has been at the forefront of driving 3G, 4G and 5G technologies, high-
performance, 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.msn.com/en-ae/news/other/qualcomm-joins-uae-s-nextgen-fdi-programme-to-drive-
advancements-in-5g-ai-iot/ar-AA1zlWJR