Adani to set up AI lab in Tel Aviv, develop real estate in Haifa

Indian tycoon Gautam Adani’s ports-to-energy conglomerate will set up an artificial intelligence lab in Tel Aviv as it looks to leverage on a $1.2 billion Haifa port deal to make more investments in Israel.

Adani, whose business empire was rocked by allegations of fraud by US short seller Hindenburg Research, appeared alongside Israeli Prime Minister Benjamin Netanyahu for signing of the deal to takeover Haifa Port in Israel, and spoke of investment opportunities.

He did not make any mention of the row that has already wiped out over USD 70 billion in value from his group stocks.

Adani, 60, said his group will also develop real estate at the port to transform the Haifa skyline.