The deal aims to expedite AI innovation, cultivate cutting-edge energy and industry solutions
Abu Dhabi’s Presight has announced its acquisition of a controlling stake in AIQ, an AI for Energy joint venture established in 2020 by ADNOC and G42.
This agreement aims to capitalize on ADNOC’s prominent position as a national oil and gas company, combining the AI Energy solutions offered by AIQ with Presight’s expertise in big data analytics, generative AI, and supercomputing. The deal further aims to expedite AI innovation and cultivate cutting-edge energy and industry solutions.
The acquisition represents a transformative expansion for Presight, as it enables the company to enter the energy sector vertical. This move unlocks substantial growth potential, generates significant incremental revenues, and is expected to provide added value for Presight’s shareholders.
Read more: Presight AI seeks $495 million from IPO
