Core42 (G42)

Core42 is a sovereign cloud and AI compute infrastructure company headquartered in Abu Dhabi, formed in February 2024 as a wholly owned subsidiary of G42, the Abu Dhabi-based AI and cloud holding company chaired by Sheikh Tahnoun bin Zayed Al Nahyan (the United Arab Emirates' National Security Advisor and one of the most prominent figures in the country's strategic-investment apparatus). Core42 was formed through the consolidation of three previously distinct G42 subsidiaries: G42 Cloud (the cloud-services arm), Khazna Data Centers (the largest UAE data-center operator), and Inject AI (a smaller AI-infrastructure subsidiary). The April 2024 announcement of the Microsoft G42 strategic partnership, under which Microsoft invested $1.5 billion in G42 and committed to deep technology cooperation including G42's transition to Microsoft Azure infrastructure, anchored Core42's commercial positioning as the principal vehicle for Azure-cooperative sovereign AI cloud in the Gulf region. As of April 2026, Core42 is one of the principal sovereign cloud and AI compute infrastructure companies globally and the structural anchor of the UAE's national AI compute strategy.

At a glance

• Founded: February 2024 in Abu Dhabi as the consolidated G42 cloud and AI compute infrastructure subsidiary. The constituent companies have longer histories: Khazna Data Centers was founded in 2012; G42 Cloud was established mid-2010s under the broader G42 umbrella.
• Status: Wholly owned subsidiary of G42 Holdings. G42's principal shareholders include the UAE government's strategic-investment vehicles, with Sheikh Tahnoun bin Zayed Al Nahyan as Chairman of the parent.
• Funding: G42 capitalization including the April 2024 Microsoft $1.5 billion strategic investment. Core42 also operates with substantial UAE-government-aligned capital from Mubadala Investment Company and adjacent UAE-state vehicles.
• CEO: Kiril Evtimov, Group Chief Technology Officer of G42 and CEO-equivalent leadership of Core42 (after Talal Al Kaissi, who was the founding CEO at the February 2024 consolidation, transitioned to a different G42 senior role).
• Other notable leadership: Hassan Al Naqbi, Chief Executive Officer of Khazna Data Centers (the principal subsidiary). Senior leadership across the consolidated organization.
• Open weights: N/A. Core42 is an infrastructure provider rather than a model producer.
• Flagship products: Sovereign cloud infrastructure with Microsoft Azure cooperation; the Compass AI-and-data platform; Khazna Data Centers (the principal Gulf-region data-center business with reported approximately 250+ MW of operating capacity and continued capacity expansion); the Condor Galaxy AI supercomputer cluster (built in cooperation with Cerebras) for which the principal operating partnership is between G42 and Cerebras Systems.

Origins

The G42 holding company was established in 2018 in Abu Dhabi, with explicit positioning as the UAE's national champion for AI and cloud infrastructure. Through 2018 to 2023, G42 grew into a multi-subsidiary holding company spanning AI research (Inception, the Jais Arabic-language model developer), cloud services (G42 Cloud), data centers (Khazna Data Centers, acquired and consolidated under G42 in 2022), healthcare AI (M42), space (Bayanat), and financial services (G42 Healthcare and adjacent units). The growth period coincided with the broader UAE government strategy of positioning the country as a regional hub for AI development and infrastructure, with Sheikh Tahnoun's role as Chairman providing both political alignment and access to UAE-government-aligned capital.

The 2023 to 2024 period brought structural strategic shifts. US scrutiny of G42's relationships with Chinese technology companies (including Huawei and ByteDance) under US export-control concerns produced what was widely reported as a strategic-realignment moment in late 2023, where G42 publicly distanced itself from Chinese partnerships and pivoted toward US technology cooperation. The April 2024 Microsoft $1.5 billion strategic investment in G42, alongside Microsoft's commitment to deeper technology cooperation including G42's transition to Microsoft Azure as the underlying cloud-infrastructure layer, was the principal public artifact of that realignment. The transaction was conditioned on G42 commitments to comply with US security and export-control standards, and Microsoft President Brad Smith joined the G42 board.

The February 2024 formation of Core42, immediately ahead of the April 2024 Microsoft announcement, consolidated G42 Cloud, Khazna Data Centers, and Inject AI into a single subsidiary. The unified Core42 entity provided a clean commercial counterparty for the Microsoft partnership and established the structural framework for the post-realignment G42 commercial offering: sovereign cloud and AI compute infrastructure in the Gulf region, built on Microsoft Azure infrastructure and operating with US-aligned governance commitments.

The 2024 to 2026 period has seen Core42 expand commercial relationships with UAE government, Gulf-region commercial customers, and international AI infrastructure customers. Khazna Data Centers has continued capacity expansion with announced developments across Abu Dhabi, Dubai, and adjacent UAE locations.

Mission and strategy

Core42's stated mission is to provide sovereign cloud and AI compute infrastructure for the Gulf region, with US-aligned technology cooperation through the Microsoft partnership. The strategy combines three threads. First, sovereign cloud infrastructure built on Microsoft Azure technology, providing UAE and Gulf-region commercial customers with cloud capability that meets sovereignty requirements while maintaining capability parity with global hyperscale alternatives. Second, the Khazna Data Centers physical-infrastructure expansion, providing the data-center capacity that underpins both Core42's own services and external AI-compute customers. Third, AI-infrastructure cooperation including the Condor Galaxy AI supercomputer partnership with Cerebras and adjacent strategic infrastructure programs.

The competitive premise is that Gulf-region commercial customers (UAE government, banking, healthcare, energy, public sector) require cloud and AI compute with both sovereignty assurances and global-hyperscale capability, that the Microsoft partnership provides the latter while G42's UAE-government alignment provides the former, and that this combination is structurally difficult for either pure-hyperscale or pure-sovereign competitors to replicate.

Models and products

• Sovereign cloud infrastructure. Microsoft Azure-cooperation cloud services. UAE and Gulf-region commercial customer base.
• Khazna Data Centers. The principal Gulf-region data-center operator. Reported approximately 250+ MW of operating capacity with continued expansion. Operating sites across Abu Dhabi, Dubai, and adjacent UAE locations.
• Compass AI-and-data platform. AI development and deployment platform.
• Condor Galaxy AI supercomputer cluster. Built in cooperation with Cerebras. Multi-cluster wafer-scale-engine AI compute infrastructure.
• AI compute capacity. UAE state-affiliated AI compute supply for G42 sister subsidiaries (Inception, M42) and external customers.

Distribution channels include direct commercial relationships with UAE government and Gulf-region commercial customers, the Microsoft Azure partner channel, and AI-infrastructure-customer engagement.

Benchmarks and standing

Core42 is not evaluated against AI benchmarks. The company's standing is measured through commercial metrics (revenue, customer base concentration, data-center operating capacity), the structural strength of the Microsoft partnership, and the commercial relationships with UAE government and Gulf-region customers.

Industry coverage has consistently characterized Core42 as one of the principal sovereign cloud and AI compute infrastructure companies globally, with the Microsoft partnership and the Khazna Data Centers physical infrastructure as the principal validating data points.

Leadership

As of April 2026, Core42's senior leadership includes:

• Kiril Evtimov, Group Chief Technology Officer of G42 and CEO-equivalent of Core42.
• Hassan Al Naqbi, Chief Executive Officer of Khazna Data Centers.
• Senior leadership across the consolidated G42 Cloud, Khazna Data Centers, and Inject AI organizations.

Talal Al Kaissi was the founding CEO at the February 2024 Core42 consolidation; subsequent leadership reorganization brought Evtimov into the principal leadership role.

Funding and backers

G42 capitalization including the April 2024 Microsoft $1.5 billion strategic investment. G42's broader capital base includes UAE-government-aligned vehicles including Mubadala Investment Company and adjacent UAE-state investors. Specific Core42-level capital figures are not separately disclosed.

Industry position

Core42 occupies a distinctive position as the principal sovereign cloud and AI compute infrastructure company in the Gulf region, with the Microsoft Azure partnership, the Khazna Data Centers physical infrastructure, the UAE government commercial-customer base, and the Condor Galaxy AI supercomputer cooperation with Cerebras. Industry coverage has consistently characterized Core42 as the structural anchor of the UAE's national AI compute strategy.

The structural risk is the political-and-regulatory dependency on continued US-UAE technology cooperation. The April 2024 Microsoft partnership was conditioned on G42's compliance with US security and export-control standards, and any change in that regulatory environment — either US tightening or G42 strategic-realignment in another direction — would directly affect Core42's commercial offering.

Competitive landscape

• G42. Parent company. Core42 is a wholly owned subsidiary.
• Inception. Sister G42 subsidiary providing AI research and the Jais Arabic-language foundation-model line.
• Microsoft AI. Strategic partner through Microsoft Azure and the April 2024 $1.5 billion investment. Partner more than competitor.
• Cerebras. AI compute infrastructure partnership through the Condor Galaxy cluster.
• HUMAIN. Saudi-Arabian sovereign AI peer. Direct regional competitor for Gulf-region sovereign-AI customers.
• TII. UAE state-affiliated applied-research peer (developer of Falcon).
• MBZUAI. UAE academic-research peer.
• AWS, Google Cloud Platform, Oracle Cloud. Hyperscale cloud competitors that have established UAE-region presence.

Outlook

• Continued sovereign cloud expansion across UAE government and Gulf-region commercial customers.
• Continued Khazna Data Centers capacity expansion.
• Continued Microsoft Azure partnership development and any announcement of deeper technology cooperation.
• The competitive dynamic with HUMAIN as the Saudi-led sovereign AI initiative scales.
• Continued US-UAE regulatory environment shaping the broader G42 commercial trajectory.

Sources

• Core42 official site. Subsidiary reference.
• G42 parent company. Holding company.
• Microsoft G42 strategic partnership announcement. April 2024 partnership reference.
• Khazna Data Centers. Data-center subsidiary.
• Cerebras Condor Galaxy announcement. Condor Galaxy AI supercomputer reference.