UAE's AI Push: Altman, Sheikh Mohammed Forge $100 Billion Vision

- OpenAI CEO Sam Altman met with UAE President Sheikh Mohammed bin Zayed Al Nahyan on advancing AI collaboration. - The UAE aims to become a global AI hub, with major investments in infrastructure and groundbreaking projects. On September 28, 2025, CoinDesk reported that OpenAI CEO Sam Altman met with UAE President Sheikh Mohammed bin Zayed Al Nahyan in Abu Dhabi. Their discussion focused on enhancing collaboration between OpenAI and Emirates-based organizations as they explored AI research and its practical applications. This meeting highlights the UAE's strategic ambition to become a global leader in AI innovation and transition to a knowledge-based economy. The Gulf nation has invested heavily to become a hub for AI advancement, creating one of the largest AI data centers globally and launching an advanced Arabic-language AI model. In addition, the UAE made a landmark agreement with the United States in May 2025, which reinforces the country's commitment to cutting-edge infrastructure by establishing a prominent AI campus. Altman’s meeting coincided with Nvidia's announcement to invest up to $100 billion in OpenAI. The investment, which aims to expand data center capabilities, will be disbursed in stages. This move aligns with Nvidia's strategic partnership with OpenAI, which uses CoreWeave, a data center provider where Nvidia holds a stake. However, these interconnected investments have sparked industry concerns about potential “circular financing,” a practice that could create a cycle where funds re-enter partnerships and artificially inflate perceived demand. These developments underscore the UAE's growing use of international partnerships to drive its AI initiatives, which are central to the nation's long-term development blueprint. Meanwhile, according to CoinMarketCap, as of 12:00 UTC on September 28, Ethereum (ETH) was valued at $1,710, reflecting a 1.8% drop in its 24-hour trading volume.