Palantir has formed a new company with Dubai Holding, a conglomerate controlled by Dubai’s ruling family, to deploy AI software across government and the private sector. The joint venture, Aither, aims to help Dubai hit its target of generating 100 billion dirhams ($27 billion) annually through digital transformation initiatives, focusing on sectors including finance, hospitality, logistics, and real estate. Aither will also look to develop Emirati talent in AI and build governance models to spur technology adoption.
Palantir, the technology firm co-founded by billionaire entrepreneur-turned-investor Peter Thiel, which counts the US Army as a top customer, is one of the world’s hottest AI stocks. Dubai Holding has been a Palantir client for the past 18 months, with the Denver firm’s software used by portfolio companies like real estate developers Nakheel and Meraas, and hotel brand Jumeirah.