Abu Dhabi AI Firm G42 to Sell Down 2% Stake in Presight

Abu Dhabi's leading AI firm, G42, is planning to sell a 2% stake in Presight AI Holding Plc, a subsidiary company. The stake is valued at approximately $100 million, contributing to the increasing number of secondary share offerings in the emirate. The move is part of G42's strategy to optimize its investment portfolio and focus on its core business. Presight AI Holding Plc, a leading provider of AI-powered solutions, will remain a majority-owned subsidiary of G42 after the sale. The transaction is expected to attract interest from investors seeking exposure to the rapidly growing AI industry in the United Arab Emirates. The sale will also provide Presight AI Holding Plc with additional capital to further expand its operations and develop new products and services. The news highlights the ongoing efforts by Abu Dhabi to position itself as a hub for innovative technology and AI-driven solutions, attracting global investment and driving economic diversification.