Qatar bets on cheap power to catch up in Gulf AI race

Qatar is banking on its abundant, low-cost energy to make up for lost time in the Gulf’s artificial intelligence race, hoping that cheap power and deep pockets will help it catch up with regional rivals that have already secured a head start.

The launch of Qai, backed by the country’s $526 billion sovereign wealth fund and a $20 billion joint venture with Brookfield, marks Qatar’s most ambitious move yet into a sector that is reshaping global technology and economics.

It joins massive investments in Saudi Arabia, and Abu Dhabi and Dubai in the United…