G42 and iGenius Team Up for $1 Billion AI Supercomputer in Italy
UAE tech firm G42 and Italian AI startup iGenius are collaborating to construct an AI supercomputer called Colosseum in southern Italy, with a $1 billion investment utilizing Nvidia technology. This project is part of UAE's broader $40 billion investment initiative in Italy announced at a February summit.
The UAE's G42 has formed a partnership with Italy-based startup iGenius to build a state-of-the-art AI supercomputer, named Colosseum, projected to launch over the next five years with a $1 billion investment using Nvidia technology. The initiative was announced following a bilateral summit highlighting the UAE's commitment to invest $40 billion in Italy.
Set to become Europe's largest AI computer deployment, the Colosseum project will see G42 leading the initial investment phase. This strategic move aims to position Italy as a burgeoning hub for AI innovation. The project aims for significant contributions to AI technology advancements within Europe.
Industry Minister Adolfo Urso expressed potential optimism for locating the AI hub in Apulia, highlighting the promising prospects. The move is further supported by G42's stakeholders, including Abu Dhabi's sovereign wealth fund Mubadala and U.S. private equity firm Silver Lake, all enhancing the project's credibility and financial runway.
(With inputs from agencies.)
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