Abu Dhabi's International Holding Company, one of the Middle East's most valuable listed firms, has unveiled a homegrown online marketplace for artificial intelligence that provides access to key AI hardware and software.
The Saif platform – introduced at the Make it in the Emirates summit in Abu Dhabi on Wednesday – is being billed as the “first-ever Emirati AI marketplace agent” and allows local and overseas developers to directly buy graphics processing units, AI modules and AI stack designs to create large language models, IHC said in a statement.
GPUs are specialised chips designed to handle more complex computing tasks. AI modules are components used to incorporate AI into systems, while AI stacks are the collection of tools needed to develop AI. LLMs are the underlying algorithms for AI.
Saif, designed and developed in Abu Dhabi, is able to speak more than 5,000 languages through text, voice and video, and can be accessed on computers and mobile devices, IHC said.
It did not provide a timeline for Saif's formal rollout, and further details about its features, scope and international partnerships are expected to be announced in the coming weeks, it said.
Saif is being positioned to “redefine the relationship between humans and intelligent systems … building new capabilities that are born in the UAE and built for the world”, Syed Shueb, chief executive of IHC, said.
Abu Dhabi is at the forefront of the UAE's push to expand its AI footprint, developing systems, forging businesses and attracting investment to elevate the UAE's global status.
Amid the rise of generative AI, Abu Dhabi's Technology Innovation Institute and AI major G42 introduced their Falcon and Jais large language models, respectively, designed to compete with LLMs from industry giants such as Meta Platforms, Google, Microsoft and ChatGPT maker OpenAI.
G42 – which made a flurry of AI deals this week – has forged partnerships with OpenAI and chip leader Nvidia, and received a $1.5 billion investment from Microsoft to support the UAE's tech strategy.
MGX, an Abu Dhabi investment firm focused on AI, also this week signed an agreement with Nvidia to build the largest AI campus in Europe, along with French companies.
IHC, founded in 1999 as part of a move to diversify and develop UAE non-oil business sectors, has expanded its portfolio in key technology sectors.
Last month, it partnered with sovereign wealth fund ADQ and First Abu Dhabi Bank to launch a dirham-backed stablecoin, which will be regulated by the UAE Central Bank.
“The UAE continues to lead from the front in digital innovation and [Saif] is a testament to what is possible when national ambition meets cutting-edge execution,” Mr Shueb said.
IHC has a market capitalisation of more than Dh882 billion ($240.1 billion) at the close of trading on Wednesday. It comprises more than 1,000 subsidiaries and plans to expand and diversify its holdings across asset management, health care, property and construction, marine and dredging, IT and communications, financial services, food production, utilities and services.
IHC reported that profit after tax hit Dh4.1 billion ($1.1 billion) in the first quarter of 2025, while revenue jumped more than 41 per cent to Dh27.2 billion compared to the same period last year.
