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BlackRock's AI Market Strategy in Abu Dhabi

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2 hours ago

BlackRock has been granted a business license in Abu Dhabi, aiming to expand its operations with a focus on private markets and AI infrastructure.

Business License in Abu Dhabi

On November 18, BlackRock received approval to operate in Abu Dhabi, highlighting its interest in expanding in a crypto-friendly region.

AI Development and BlackRock's Role

Charles Hatami, BlackRock's head of the Middle East, stated that the company would focus on private markets and AI infrastructure. This is in line with Abu Dhabi's efforts in AI. Microsoft previously announced a $1.6 billion investment in the Abu Dhabi-based company G42.

Future Plans for BlackRock in UAE

BlackRock has yet to disclose detailed plans for the UAE, but Charles Hatami emphasized Abu Dhabi's role as a global financial center and praised the local administration's efforts.

The licensing reflects BlackRock's intention to strengthen its presence in Abu Dhabi and develop AI and private market initiatives.

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