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Saudi Arabia Plans $40 Billion Push Into Artificial Intelligence

According to the New York Times, Saudi Arabia's government plans to create a fund of about $40 billion to invest in artificial intelligence. Reuters reports: Representatives of Saudi Arabia's Public Investment Fund (PIF) have discussed a potential partnership with U.S. venture capital firm Andreess...

Saudi representatives have indicated to potential partners that the country is interested in supporting a variety of tech start-ups associated with artificial intelligence, including chip makers and large-scale data centers, the report added. Last month, PIF's Al-Rumayyan pitched the kingdom as a prospective hub for artificial intelligence activity outside U.S., citing its energy resources and funding capacity. Al-Rumayyan had said the kingdom had the "political will" to make artificial intelligence projects happen and ample funds it could deploy to nurture the technology's development.

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