Abu Dhabi’s burgeoning obsession with artificial intelligence just took something of a detour. The richest of the United Arab Emirates said on Wednesday that its MGX investment vehicle was paying $2 billion to acquire a minority stake in cryptocurrency exchange Binance. That puts quite a new twist on MGX’s prior focus on AI infrastructure, even if in pragmatic geopolitical terms it might qualify as a logical move.
UAE crypto bet is a new twist on AI infrastructure
