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☆ Abu Dhabi AI firm Presight buys majority stake in technology joint venture AIQ
▼ + stars: | 2024-05-02 | by ( Natasha Turak | ) www.cnbc.com time to read: +1 min

A general view of the city skyline at sunset from Dhow Harbour on February 5, 2015 in Abu Dhabi, United Arab Emirates. DUBAI — Abu Dhabi artificial intelligence firm Presight bought a 51% stake in AIQ, a joint technology venture between the Abu Dhabi National Oil Company (ADNOC) and G42, a major Abu Dhabi-based AI and cloud company. The new ownership structure will see ADNOC holding 49% of the company and giving it a valuation of $1.4 billion, according to a joint company press release. ADNOC will in turn get a 4% stake in Presight, as it aims to integrate AI into more of its operations and services. AIQ uses AI and machine learning to improve processes in the oil and gas industry.

Persons: Presight, ADNOC, CNBC's Dan Murphy, Chris Cooper, We've, Cooper Organizations: United, United Arab Emirates, Abu Dhabi National Oil Company Locations: Harbour, Abu Dhabi, United Arab, DUBAI, AIQ, Presight, ADNOC

☆ Check out the 18-slide pitch deck Lindus Health used to convince Peter Thiel to back its clinical trials platform
▼ + stars: | 2023-06-01 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Tech billionaire Peter Thiel has invested in British health tech startup Lindus Health. Check out the 18-slide pitch deck Lindus Health used to raise the fresh funds below. Billionaire Peter Thiel has invested in a startup that aims to dramatically speed up clinical trials, bringing its total funding raised to $6 million. The British Medical Journal estimates that clinical trials in the UK have fallen by 41% between 2017 to 2021. With the cash injection, Lindus Health will focus on growing its commercial team, and expand its trials globally.

Persons: Peter Thiel, Michael Young, Thiel, Young, Firstminute, Hambro, Peter Thiel's, Sifted Organizations: Tech, PayPal, British Medical, Lindus Health Locations: London, Berlin, Germany, Europe

☆ Abu Dhabi's Presight AI soars on market debut
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

DUBAI, March 27 (Reuters) - Shares in Abu Dhabi big data analytics company Presight AI climbed as much as 176% on their stock market debut after raising 1.82 billion dirhams ($495.6 million) in an initial public offering (IPO) for almost a third of the business. Presight's shares rose as high as 3.70 dirhams on the Abu Dhabi Securities Exchange before retreating a little to 3.40 dirhams. The company is majority owned by G42, controlled by Sheikh Tahnoon bin Zayed al-Nahyan. Sheikh Tahnoon is the UAE's national security adviser and has acted as a foreign policy troubleshooter for his brother, President Sheikh Mohammed bin Zayed al-Nahyan. He was also recently named chair of Abu Dhabi Investment Authority, the emirate's largest sovereign wealth fund, and was already chair of smaller wealth fund ADQ.

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