Saudi Arabia Invests 40 Billion Dollars in Artificial Intelligence

Government of Saudi Arabia, In order to invest in artificial intelligence, approximately $40 billion decided to create a fund. If this decision bears fruit, Saudi Arabia may be able to gain a significant advantage over this technology that has already begun to shape people’s lives.

Moreover, Saudi officials have already taken action. According to sources close to the subject, Saudi Arabia Public Investment Fund officials met with Andreessen Horowitz, one of Silicon Valley’s most important entrepreneurs, and some other important names to talk about potential collaborations.

Saudi Arabia may be the world’s largest artificial intelligence investor

The planned technology investment will make Saudi Arabia suddenly The world’s largest artificial intelligence investor can position it. The country’s government has been working for a long time to diversify its income from the oil monopoly, and they can open a new door for themselves thanks to artificial intelligence investments. Saudi Arabia’s Public Investment Fund has assets exceeding $900 billion.

Saudi Arabia will not only invest in companies that develop artificial intelligence models. Companies operating in data centers, chip manufacturers and other related fields also will be able to benefit from these investments. It is stated that Saudi officials also plan to create their own artificial intelligence models within the scope of these investments. With the investments to be directed through Wall Street banks, the artificial intelligence market seems to change a lot.

Saudi Arabia has previously supported startups such as Uber, SoftBank He also participated in the initiative with 45 billion dollars. Authorities had been keeping their investments away from technology for a while due to brands such as WeWork and Zume that failed among SoftBank investments.