Saudi Arabia plans to invest US$40 billion in AI
The Saudi government plans to create a fund of about $40 billion for investing in artificial intelligence. The $40 billion target will dwarf the typical financing scale of American venture capital firms. In recent weeks, representatives of the Saudi sovereign wealth fund have discussed possible partnerships with top Silicon Valley venture capital firms such as the Anderson Horowitz Fund and other financiers. They cautioned that plans may still change. According to four insiders, Saudi representatives have mentioned to potential partners that the country is seeking support for a range of tech startups related to artificial intelligence, including chip manufacturers and expensive, large data centers that are increasingly necessary for the development of next-generation computing. Saudi Arabia is even considering starting its own artificial intelligence company.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pepe’s market cap briefly tops $10 billion on back of 77% price surge
The price of the frog-faced memecoin surged 77% in the past 24 hours to trade at $0.000024.Major exchanges, including Coinbase, Robinhood and Upbit, have recently listed Pepe trading pairs.
ETH killers are still no closer to doing the deed
Solana is the crowd favorite to potentially flip Ethereum somewhere down the line, and it tends to feel realistic at times
Bitcoin at $100k very possible before EOY, analysts say
The market is due for a breather, but analysts expect prices to continue moving up in the coming weeks
FBI raids Polymarket founder's home