Mubadala Investment Company

Mubadala Investment Company PJSC (Arabic: شركة مبادلة للاستثمار‎) (Mubadala) is an Emirati state-owned holding company that can be characterized as a sovereign wealth fund. It was established in January 2017 as a Public Joint Stock Company, merging the Mubadala Development Company and the International Petroleum Investment Company, and is a wholly owned investment vehicle of the government of Abu Dhabi, in the United Arab Emirates.

Mubadala Investment Company
شركة مبادلة للاستثمار
Joint stock company (Government owned)
IndustryDiversified investments
FoundedJanuary 2017
Headquarters
Abu Dhabi
,
United Arab Emirates
Key people
HH Sheikh Mohammed bin Zayed Al Nahyan, Chairman
Khaldoon Khalifa Al Mubarak, CEO and Managing Director
Revenue AED 165.6 billion (2017)[1]
AED 10.7 billion (2017)[1]
Total assets AED 369.4 billion (2017))[1]
Total equity AED 258 billion (2017)[1]
Number of employees
11000
SubsidiariesPiaggio Aerospace
Mubadala Development Company
Websitewww.mubadala.com

Reportedly, Mubadala was formed after Khadem al-Qubaisi, ex-managing director of IPIC, was arrested over his and the company’s involvement in the 1MDB scandal.[2] Mubadala’s mandate is to facilitate the diversification of Abu Dhabi’s economy. Its focus is on managing long-term, capital-intensive investments intended to deliver strong financial returns and tangible social benefits for the emirate.[3][4][5]

The company owns Advanced Technology Investment Company (ATIC), a high tech investment company and owner of GlobalFoundries, the world’s second largest semiconductor foundry company by revenue.[6]

In March 2020, Mubadala Investment Company joined a consortium of investors to invest a total of $2.25 billion in Alphabet-owned self-driving technology company Waymo.[7]

In June 2020, Mubadala Investment Company announced investment[8] of $1.2 billion in Reliance Jio Platforms for 1.85 percent stake, valuing Mukesh Ambani telecom venture Jio at $65 billion. For December 31, 2019, Mubadala in total reached 853 billion in AUM. [9]

Advanced Technology Investment Company
Advanced Technology Investment Company (ATIC)
Founded2008 (2008)
Headquarters
Abu Dhabi
,
UAE
Key people
Ibrahim Ajami (CEO)
Websitewww.atic.ae

Advanced Technology Investment Company (ATIC) is an investment company in the high-technology sector,[10] owned by Mubadala Development Company, a wholly owned investment vehicle of the government of Abu Dhabi, in the United Arab Emirates.

ATIC wholly owns GlobalFoundries, the world’s second largest semiconductor foundry company by revenue.[6]

It also works to build what they describe as a technology ecosystem in Abu Dhabi, funding over AED 100 million in local R&D activities and supporting educational initiatives that have thus far reached over 1,000 UAE Nationals.[11][12]

History and growth

ATIC was established in 2008. Through a joint venture, ATIC and Advanced Micro Devices (AMD) created the world's third largest independent foundry GlobalFoundries in early 2009.[13] In late 2009, ATIC acquired Chartered Semiconductor Manufacturing of Singapore, the world's second largest dedicated independent semiconductor foundry.[14][15] In January 2010, the two operations were integrated, and have since functioned as one company under the GlobalFoundries brand.[16]

In August 2010, the firm joined with other investors to fund Texas-based Calxeda, a start-up company for producing ARM architecture-based computers for the server market.[17]

It "worked with the Massachusetts Institute of Technology to develop a masters program in microelectronics at the Masdar Institute of Science and Technology in Abu Dhabi."[18][19] Also in 2010, the firm joined a research partnership with the Semiconductor Research Corporation (SRC) to conduct research in the Abu Dhabi region.[20]

In 2011, it announced investments of $5.5 billion to expand chip manufacturing in Singapore, Dresden, and Saratoga County in the U.S. state of New York.[21][22] It also announced a $6–$8 billion computer chip factory in Abu Dhabi for completion in 2012.[23]

In June 2016, they announced that they would unite and become one with their sister company International Petroleum Investment Company.[24][25][26]

In November 2018, Mubadala led a new $60 million investment round in logistics software startup Turvo.[27]

In May 2020, Mubadala was said to be in advanced talks with Reliance Industries Ltd RIL about investing around $1 billion in the Indian conglomerate’s Jio Platforms. If it goes ahead this will its largest investment in an Indian business. [28]

Research and development

ATIC has invested more than Dh100 million in research grants and funds since 2009 for building a globally-competitive technology R&D ecosystem within Abu Dhabi.[11]

It partners with the Semiconductor Research Corporation, a leading university-research consortium, to drive local research towards minimum energy electronic systems.[29] It is supporting research initiatives spanning Khalifa University, UAE University, American University of Sharjah, Masdar Institute and New York University Abu Dhabi.

ATIC and the German state of Saxony have invested $4.8 million in twinned laboratories that research 3-D stacking of integrated circuits.[30]

Senior management

Ibrahim Ajami is the Chief Executive Officer. He oversaw the joint venture between ATIC and Advanced Micro Devices (AMD) of the creation of Global Foundries.[31]

gollark: Offloading computing to humans sounds tricky and inefficient.
gollark: What is the APL command for "build nuclear reactor"?
gollark: In real reality? Wrong public opinions.
gollark: Why does it not simply build itself better reactors?
gollark: It's concentrated in certain places though. Unless it filters from seawater.

References
  1. "Mubadala Investment Company Announces Full Year 2017 Financial and Operational Highlights". Mubadala Investment Company. April 29, 2018.
  2. "Alleged 1MDB Conspirator Says He Is a Scapegoat for Emiratis". The Wall Street Journal. Retrieved 23 January 2019.
  3. "The Mubadala Story | Mubadala Development Company | Abu Dhabi, United Arab Emirates". Mubadala.ae. Retrieved 2012-08-13.
  4. "Senior Executive Management". Mubadala. Retrieved 2014-06-05.
  5. "Aviation News | Airline Profiles | Jobs & Aircraft Listings". Arabaviation.com. Retrieved 2014-06-05.
  6. "The National", accessed October 28, 2013.
  7. "Mubadala invests in autonomous, self-driving technology company Waymo". www.institutionalassetmanager.co.uk. 2020-03-03. Retrieved 2020-03-05.
  8. "Investors Flock to Pick Up Stake in Ambani's Jio Platforms | TopNews". topnews.in. Retrieved 2020-06-07.
  9. "Mubadala Investment Company Reached 853 Billion AED in AUM for 2019 | SWFI". swfinstitute.org. Retrieved 2020-06-13.
  10. "About Us", ATIC, accessed June 12, 2011.
  11. "The National", accessed October 28, 2013.
  12. "The National", accessed October 28, 2013.
  13. "Leadership", ATIC, accessed June 12, 2011.
  14. “Press Release”, ATIC, accessed June 14, 2011.
  15. “Abu Dhabi to take on Taiwan’s Chipmakers”, Financial Times, accessed June 14, 2011.
  16. Press Release, ATIC, accessed Juned 14, 2011.
  17. “Green chip start-up gets $48 million in funding”, CNET, accessed June 14, 2011.
  18. “Abu Dhabi: High-tech mecca or mirage?”, AllItWares, accessed June 14, 2011.
  19. “Masdar Institute – Fast Facts” Archived 2012-02-20 at the Wayback Machine, Masdar Institute, accessed June 14, 2011.
  20. "Semiconductor Research Corporation and Advanced Technology Investment Company Chart Course for Semiconductor Research in Abu Dhabi", Nanowerk, November 11th, 2010, accessed June 12, 2011.
  21. "Abu Dhabi’s ATIC Investing in Chip Plant, Sees Acquisitions", “Bloomberg”, May 18, 2011, accessed June 12, 2011.
  22. “A future built on silicon”, “Arab News”, accessed June 14, 2011.
  23. “ATIC to raise Globalfoundries stake”, “The National”, accessed June 14, 2011.
  24. "Fast FT". next.ft.com. 29 June 2016. Retrieved 7 July 2016.
  25. French, David; Tolba, Ahmed; Aboudi, Sam (29 June 2016). "Abu Dhabi government orders merging of Mubadala And IPIC - state news agency". Reuters. Retrieved 7 July 2016.
  26. Kerr, Simeon (29 June 2016). "Abu Dhabi to merge sovereign wealth funds Ipic and Mubadala". Retrieved 7 July 2016.
  27. Phillips, Erica E. "Abu Dhabi State Fund Leads $60 Million Funding in Logistics Software Startup". WSJ. Retrieved 2018-11-09.
  28. “Mubadala in talks on $1 billion stake in Reliance’s Jio Platforms”, Platform Executive, accessed June 1, 2020.
  29. "The National", accessed October 28, 2013.
  30. "ITP", accessed October 28, 2013.
  31. “Leadership”, “ATIC”, accessed June 14, 2011.
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