Qatar has joined Saudi Arabia and the UAE in backing a homegrown AI champion. Qai is now the name to know from Qatar Investment Authority, joining PIF’s HUMAIN and Abu Dhabi’s G42 in the Gulf’s race to build up computing power (G42’s data center firm has even expanded into the kingdom). Qai’s first public deal is a $20 billion joint venture with Brookfield Asset Management to invest in, develop, and manage AI infrastructure in the country and abroad.
Qai’s mandate is to build the platforms and systems needed to speed up AI adoption across Qatar, according to its chief executive. The new unit is the most significant swing yet from the $550 billion Qatari sovereign wealth fund in an otherwise busy year on the technology front: QIA has backed OpenAI rival Anthropic and teamed up with alternative asset manager Blue Owl to invest $3 billion in data centers.
— Kelsey Warner