Saudi Arabia Announces New $40B AI Fund

Hoping to position itself at the forefront of AI, the Kingdom of Saudi Arabia has announced its intentions to establish a monumental $40 billion AI fund. As reported by the New York Times, the fund would focus on investments in the emerging tech field.

This is an ambitious plan, that underscores the nation’s commitment to reducing its reliance on fossil fuel revenue by becoming a leading hub for artificial intelligence and technology innovation. Saudi Arabia’s Public Investment Fund (PIF) is …

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