Saudi Arabia $40b AI fund
Saudi Arabia $40b AI fund
Saudi Arabia plans to establish a $40 billion fund to invest in artificial intelligence, aiming to become a global leader in AI technology. This initiative, led by the Saudi government’s Public Investment Fund, involves discussions with prominent venture capital firms like Andreessen Horowitz. The fund, sourced from the country’s $900 billion sovereign wealth fund, seeks to diversify the economy away from oil and boost the nation’s influence in geopolitics. If realized, this investment would make Saudi Arabia the largest AI investor globally, surpassing typical U.S. venture capital amounts. The kingdom’s strategic move aligns with its Vision 2030 agenda and reflects a broader trend of nations investing heavily in AI to drive innovation and economic growth.
