UAE to invest up to $50 billion in Canada in industries such as AI, energy
The United Arab Emirates said on Friday it will invest up to $50 billion in Canada under a framework that includes projects in artificial intelligence, energy, and mining sectors.
The UAE has been looking to expand its energy investments abroad, especially through its recently launched firm XRG, the foreign investment arm of Abu Dhabi’s oil major, ADNOC.
Abu Dhabi is also investing heavily in AI, with plans to build one of the world’s largest data center hubs in the country with U.S. technology.
