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A general view of the city skyline at sunset from Dhow Harbour on February 5, 2015 in Abu Dhabi, United Arab Emirates.

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DUBAI — Abu Dhabi artificial intelligence firm Presight bought a 51% stake in AIQ, a joint technology venture between the Abu Dhabi National Oil Company (ADNOC) and G42, a major Abu Dhabi-based AI and cloud company.

The new ownership structure will see ADNOC holding 49% of the company and giving it a valuation of $1.4 billion, according to a joint company press release.

ADNOC will in turn get a 4% stake in Presight, as it aims to integrate AI into more of its operations and services. AIQ, for its part, will continue as a standalone company within Presight’s portfolio, the release said. AIQ uses AI and machine learning to improve processes in the oil and gas industry.

Speaking to CNBC’s Dan Murphy, AIQ CEO Chris Cooper discussed how his firm has benefitted from ADNOC and how it plans to broaden its applications in the energy industry and globally.

“We’ve had the benefit of the huge volumes of data that ADNOC provide. We’ve also had the insights of the people that come from ADNOC. That [is] combined with our data scientists and software engineers, and also then combined with the infrastructure that’s required to run those models that come from Group 42,” Cooper said.

What the acquisition does, he added, is “leverage the breadth and the reach that Presight has as a global data-driven analytics company to take those solutions that have been built here in the UAE and … take them to a global forum, and really drive, focus on sustainability, focus on safety, and improving operations of all of the energy industry companies that we can now work with.”

Under AIQ’s previous structure, it was owned 60% by ADNOC and 40% by G42. Sultan Ahmed Al Jaber, the minister of industry and advanced technology and ADNOC’s group CEO, will take over as AIQ’s chairman.

Abu Dhabi is pushing ahead with work and investment in AI. Earlier in April, Microsoft invested $1.5 billion in G42, helping spur its expansion plans and develop the UAE’s position as a technology hub.  

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Instacart shares drop on report that FTC is probing company over AI pricing tool

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December 17, 2025

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Instacart shares drop on report that FTC is probing company over AI pricing tool

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Shares of grocery delivery service Instacart dropped about 7% in extended trading on Wednesday, following a report that said the U.S. Federal Trade Commission has begun an investigation into the company’s pricing practices.

The FTC sent a civil investigative demand to Instacart, Reuters reported, citing unnamed people.

A study released last week showed that prices for the same products in the same supermarkets that work with Instacart can vary by around 7%, which can result in over $1,000 in extra annual costs for customers. Instacart responded by saying that retailers determine prices listed in the app.

In 2022, Instacart spent $59 million to acquire Eversight, a company specializing in artificial intelligence-driven pricing and promotions for retailers and consumer packaged goods. Instacart sought to “create compelling savings opportunities for customers in real-time” with Eversight, according to a regulatory filing.

The FTC and Instacart did not immediately respond to requests for comment.

Read Reuters’ full report here.

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Cramer slams Amazon for considering a circular AI deal reminiscent of the dotcom bubble

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December 17, 2025

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Cramer slams Amazon for considering a circular AI deal reminiscent of the dotcom bubble

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Amazon says AI chief Rohit Prasad is leaving, Peter DeSantis to lead ‘AGI’ group

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December 17, 2025

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Amazon says AI chief Rohit Prasad is leaving, Peter DeSantis to lead 'AGI' group

Rohit Prasad, Senior VP & Head Scientist for Alexa, Amazon, on Centre Stage during day one of Web Summit 2022 at the Altice Arena in Lisbon, Portugal.

Ben McShane | Sportsfile | Getty Images

Rohit Prasad, a top Amazon executive overseeing its artificial general intelligence unit, is leaving the company at the end of this year, the company confirmed Wednesday.

As part of the move, Amazon CEO Andy Jassy said the company is reorganizing the AGI unit under a more expansive division that will also include its silicon development and quantum computing teams. The new division will be led by Peter DeSantis, a 27-year veteran of Amazon who currently serves as a senior vice president in its cloud unit.

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