Dubai Holding and Palantir Technologies Inc. (NYSE: PLTR) announced the establishment of Aither, a joint venture focused on artificial intelligence transformation across Dubai's public and private sectors. The agreement was signed October 31 in Dubai.

The partnership formalizes 18 months of collaboration between the companies. Since early 2024, Dubai Holding has deployed Palantir's AI and data integration platforms across its operations in real estate, hospitality, finance and infrastructure sectors, including brands such as Nakheel, Meraas and Jumeirah.

Aither represents Palantir's first joint venture in the UAE and will serve as a platform to accelerate AI adoption across Dubai's priority industries for both government and private-sector organizations. The joint venture aims to support the Dubai Economic Agenda D33, which targets generating AED 100 billion annually through digital transformation initiatives.

The signing ceremony took place in the presence of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Holding, and His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs. Amit Kaushal, Group Chief Executive Officer of Dubai Holding, and Noam Perski, Executive Vice President at Palantir, signed the agreement.

"This strategic joint venture with Palantir represents a transformative catalyst in Dubai's AI evolution and a significant milestone in Dubai Holding's own digital transformation journey," said Kaushal.

Alex Karp, co-founder and CEO of Palantir Technologies, stated: "We are proud to partner with Dubai Holding to deploy Palantir's world-class AI capabilities and further bolster Dubai's position as a global innovation hub."

Dubai Holding is a diversified global investment company with investments in more than 30 countries and a portfolio worth over AED 280 billion. Palantir Technologies is a provider of operational artificial intelligence platforms.