• The company combines Palantir's advanced technology with Dubai Holding's local insight and deep operational expertise to establish Dubai's first enterprise-level artificial intelligence company.
• Having achieved tangible results within Dubai Holding's portfolio – from real estate and hospitality to investment and infrastructure – Ether is contributing to the goals of Dubai's D33 economic agenda.
• This partnership embodies Dubai's leadership in developing secure, sovereign, and high-impact artificial intelligence applications that deliver tangible economic value.

Dubai, UAE: Dubai Holding, a diversified global investment company with investments in more than 30 countries, and Palantir Technologies, a global leader in operational artificial intelligence (AI) platforms, announced the signing of a strategic agreement to launch a new company called Ether – Palantir’s first company of its kind in the UAE. The launch of Ether culminates 18 months of practical collaboration between the two parties, which has already delivered transformative results within Dubai Holding’s portfolio. This collaboration will pave the way for expanding these proven capabilities to strategic business sectors across the UAE.

In the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, and His Excellency Mohammed bin Hadi Al-Hussaini, Minister of State for Financial Affairs, the agreement was signed in the Emirate of Dubai between Amit Kaushal, Group CEO of Dubai Holding, and Noam Perski, Executive Vice President of Palantir.

18 months of operational success

Since the beginning of 2024, Dubai Holding has been implementing Palantir's AI solutions and data integration platforms across its diverse operations, resulting in improved operational efficiency, faster decision-making, and enhanced data transparency. These results have been reflected across vital sectors including real estate, hospitality, investment, and infrastructure, with prominent brands such as Nakheel, Meraas, and Jumeirah.

Establishing an institutional artificial intelligence system

Ether will accelerate the adoption of artificial intelligence technologies across strategic sectors in Dubai, enabling government and private entities to achieve large-scale transformation. By combining Dubai Holding's market expertise with Palantir's advanced software and engineering capabilities, Ether will localize enterprise AI applications to enhance operational efficiency, strengthen competitiveness, and unlock new avenues for value creation.

The company will directly contribute to strengthening the national digital ecosystem and supporting Dubai’s D33 economic agenda, which aims to achieve AED 100 billion annually from digital transformation initiatives. By making its proven AI solutions available to the local business sector, Ether is helping accelerate the UAE’s journey towards global leadership in AI applications.

Ether will also focus on localizing the economic value of Palantir technologies, transferring knowledge to develop national competencies, and establishing integrated governance frameworks to guide AI applications within the local business landscape.

Ether will operate under a clearly defined mission to serve the business sectors in Dubai, in line with the emirate’s digital transformation strategy and economic diversification goals.

On this occasion, Amit Kaushal, Group CEO of Dubai Holding, said: “Through Ether, we are working to deploy the trusted capabilities of artificial intelligence on a wider scale, in support of Dubai’s digital ambitions and the UAE’s efforts to accelerate economic diversification and enhance its global leadership in the digital economy.”

Alex Karp, CEO of Palantir Technologies, stated: "We are proud of our partnership with Dubai Holding to enable organizations in the UAE to benefit from Palantir's world-leading AI platforms."

For more information, please contact us via email at info@aither.ae :

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27(a) of the Securities Act of 1933, as amended, and Section 21(e) of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir's expectations regarding the value and terms of the contracts it enters into and the benefits expected from its software platforms. Forward-looking statements are by their very nature subject to risks and uncertainties that are often unpredictable or unmeasurable. These statements are based on information available at the time of their release and on management's current expectations, beliefs, and assumptions at that time regarding future events. These statements remain subject to a range of risks and uncertainties, including, but not limited to, our ability to meet the unique needs of our customers, the failure of our platforms to achieve customer satisfaction or perform as desired, the frequency or severity of software or execution errors, the reliability of our platforms, and our customers' ability to modify or terminate their contracts. Additional information regarding these and other risks, uncertainties, and other matters is included in the disclosures the company files with the U.S. Securities and Exchange Commission from time to time. Except as required by law, the company assumes no obligation to publicly update or revise any of these forward-looking statements, whether as a result of new information, future developments, or for any other reason.

An overview of Dubai Holding

Dubai Holding is a diversified global investment company with investments in more than 30 countries and a workforce exceeding 45,000 employees. Founded in 2004, Dubai Holding contributes to enriching the lives of millions of Dubai residents and visitors through its extensive portfolio valued at over AED 280 billion, supporting the growth and diversification of Dubai's economy across 10 key sectors, including real estate, hospitality, entertainment, media, information technology, design, education, retail, industry and logistics, and science.

Dubai Holding's portfolio consists of seven main companies:

• Dubai Holding Properties , one of Dubai's leading integrated developers, combines the extensive expertise of Meraas, Nakheel, Meydan, and Dubai Properties. This portfolio offers innovative residential real estate solutions in property development, project management, facilities management, and district management.

• Dubai Holding Asset Management , which owns Dubai Retail , a world-class retail portfolio comprising more than 40 prominent shopping and entertainment destinations, is also the largest strategic shareholder in Dubai Residences REIT , the largest and first listed real estate investment trust in the GCC focused exclusively on residential leasing, as well as the largest strategic shareholder in TECOM Group, which comprises 10 specialized business destinations catering to six vital knowledge-based economic sectors;

• Dubai Hospitality Holdings , which owns and operates 53 hotels in addition to luxury hotel brands including Jumeirah, the global luxury hotel company and leading hospitality brand that operates 31 world-class hotels, also includes in its portfolio a diverse range of award-winning food and beverage concept destinations;

• Dubai Entertainment Holdings is the region’s largest and most diversified media and entertainment company, which includes a number of prominent parks and attractions such as Global Village, Ain Dubai, Dubai Parks and Resorts, and The View Palm, as well as leading media and entertainment venues such as Roxy Cinemas, Coca-Cola Arena, and Arabian Radio Network.

• Dubai Holding Investments is the arm responsible for developing and implementing the group's investment strategy and managing a diversified portfolio of strategic and financial investments in public and private markets, both locally and internationally. Its aim is to diversify the group's assets and investments while achieving attractive risk-adjusted returns. The company invests in Emirates NBD, Warsan Waste Treatment Centre, du, Azadea, Nord Anglia, and others, in addition to joint ventures and strategic partnerships with Brookfield, Emaar, Aldar, Tabreed, and others.

• Dubai Holding Land Management is responsible for managing land available for development within Dubai Holding, supporting its commitment to sustainable urban development and economic diversification, in line with the Dubai Urban Plan 2040.

• Dubai Holding for Community Management is an integrated company focused on creating and managing sustainable and vibrant communities, committed to fostering a sense of belonging and connection among more than 1.2 million people living in 58 major communities under its management across Dubai.

www.dubaiholding.com

www.x.com/dubaiholding

www.instagram.com/dubaiholding

www.facebook.com/dubaiholding

www.youtube.com/user/dubaiholding

https://www.linkedin.com/company/dubai-holding

-I finish-

#Company Data

Disclaimer regarding the content of press releases
The content of this press release is provided by a third-party provider. We do not assume any responsibility for, nor do we have any control over, such content. This content is provided on an "as is" and "as available" basis and is not edited in any way. Neither we, nor our affiliates, will be liable for the accuracy, endorsement, or completeness of any opinions, views, information, or materials contained in this content.
This press release is provided for informational purposes only; the content does not constitute legal, investment, or tax advice, nor does it offer any opinion on the suitability, value, or profitability of any particular portfolio or investment strategy. Neither we nor our affiliates will be liable for any errors or inaccuracies in the content, or for any actions you take based on that content. You expressly agree and acknowledge full responsibility for your use of the information contained in this press release.
To the extent permitted by applicable law, Refinitiv, its parent company, subsidiaries, affiliates, relevant shareholders, directors, officers, employees, agents, advertisers, content providers, and licensors (collectively, the 'Refinitiv Parties') shall not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive, or exemplary damages; This includes, but is not limited to, losses of profits, savings, or revenues, whether due to negligence, tort, contract, or other theories of liability, even if the parties to Refinitiv were advised of the possibility of any such damages or losses occurring or actually anticipated them.