Microsoft to invest $15.2B in UAE between 2023 and 2029

Microsoft (MSFT) president Brad Smith said the company will invest $15.2B in the United Arab Emirates between the start of its new AI initiative in 2023 and the end of this decade, in 2029. “This is not money raised in the UAE,” Smith said. “It’s money we’re spending in the UAE. And as we do everywhere in the world, we’re focused not just on growing our business but also on contributing to the local economy. This involves bringing together three critical factors – technology, talent, and trust. On some days, it feels like the tech sector is gripped in a rhetorical race to announce ever larger, sky-high numbers. We believe in moving fast while staying grounded and being transparent about our investment details. And we want to share our strong conviction that our investments benefit the shareholders of our company, the people of the UAE, and the relationship between our two nations.” Beginning in 2023 and through the end of this calendar year, Microsoft will have invested and spent just over $7.3B in the UAE. This includes a $1.5B equity investment in G42, more than $4.6B in capital expenses in advanced AI and cloud datacenters in the country, and more than $1.2B in local operating expenses and the cost of goods sold. From the start of 2026 to the end of 2029, Microsoft will spend more than $7.9B in the UAE. This includes more than $5.5B in capital expenses for ongoing and planned expansion of its AI and cloud infrastructure, including new steps it will share publicly in Abu Dhabi this week. It also includes almost $2.4B in planned local operating expenses and the cost of goods sold.