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According to the New York Times, the Saudi government plans to set up a fund of approximately US$40 billion to invest in artificial intelligence, making it the world’s largest artificial intelligence investor.
The move demonstrates Saudi Arabia’s commercial ambitions, diversification of the economy and greater influence in geopolitics. Representatives of the Saudi Public Investment Fund have discussed the possibility of cooperation with the American Silicon Valley venture capital firm “Andreessen Horowitz”, and the fund is expected to be launched in the second half of 2024.
The kingdom has also sought to support AI technology startups, including chipmakers and data centers, and is even considering creating its own AI company.
(Source: enanyang Image source: freepik)
