SEPTEMBERASIA BUSINESS OUTLOOK8NEWSROOMLG Electronics signed a strategic memorandum of understanding (MOU) with SHAKER Group and international data infrastructure provider DATAVOLT to provide cutting-edge cooling solutions for a next-generation AI data center that is being developed in Oxagon, the industrial powerhouse of NEOM.Under the deal, LG will provide leading-edge thermal management systems including large-scale chillers and coolant distribution units, that are capable of addressing the performance and sustainability requirements of hyperscale, AI-ready data centers."We are constructing a new generation of net-zero, AI-ready data centers optimized for performance, scale and sustainability. Teaming with LG enables us to integrate best-in-class cooling technologies that are key to enabling the digital transformation of governments and businesses." stated Rajit Nanda, DATAVOLT CEO.Mohammed Ibrahim Abunayyan, CEO of SHAKER Group, emphasized the strategic nature of the collaboration: "Our 30-year partnership with LG has shaped Saudi's HVAC market. This new step with DATAVOLT and LG supports the Kingdom's ambition to be a global technology hub."The alliance also reflects LG CEO William Cho's Global South approach. "The Middle East presents rich B2G and B2B potential. We are focused on seizing new growth throughout the region by delivering differentiated AI and smart home solutions." stated Cho.This investment is the first step by LG to expand its presence in AI infrastructure and further solidifies its "One LG Solution" strategy, combining strengths among affiliates such as LG CNS and LG Energy Solution. The acquisition reflects LG's focus on sustainable, high-performance technologies for developing markets. Dazl, a newly launched startup based in Israel, has raised US$10 million in seed funding to accelerate the development of its AI-powered app-building platform.The company was co-founded by Nadav Abrahami, co-founder of Wix, and Assaf Sagy, former TikTok executive. The funding round was led by 40RTY Fund, with participation from Wix and Abrahami himself. Dazl's vision is to create a platform that enables developers and businesses to build production-ready applications using AI, significantly reducing development time and complexity. The startup originated inside Wix, where its core technology was first developed.With the spin-off, about 30 Wix employees are joining Dazl to continue scaling its platform independently. The fresh capital will be used to expand product development and strengthen its technology infrastructure.This funding marks a significant step for Dazl as it seeks to position itself at the intersection of AI and no-code/low-code development, a rapidly growing market that empowers users to create scalable applications without deep technical expertise. With the combined experience of its founders and a strong engineering team, Dazl aims to redefine how AI integrates into application development, targeting both startups and enterprises seeking efficiency in digital transformation.The move also highlights growing investor confidence in AI-driven tools that can disrupt the global software development ecosystem. LG SIGNS MOU TO POWER NEOM AI CENTER COOLINGDAZL RAISES $10M TO BUILD AI-POWERED APP PLATFORM· LG signs MOU to supply cooling systems for NEOM's AI data center in Oxagon, partnering with DATAVOLT and SHAKER Group· The project marks LG's first AI data center cooling deal in the Middle East, expanding its footprint in digital infrastructure· The partnership supports LG's Global South strategy and strengthens its presence in high-growth, tech-driven markets· Dazl raises $10M seed funding led by 40RTY Fund· Founded by Wix co-founder Nadav Abrahami and ex-TikTok exec Assaf Sagy· Developing an AI-powered platform to build production-ready apps
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