Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Saudi Arabia plans to invest US$40 billion in AI

Saudi Arabia plans to invest US$40 billion in AI

CointimeCointime2024/03/20 00:12
By:Cointime

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.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Bitcoin (BTC) Surges to New ATH Amidst Declining Sell-Side Pressure

Bitcoin reaches a new all-time high of $109k after months of consolidation. Analysis reveals diminishing sell-side pressure and signals of potential market volatility, according to Glassnode.

Blockchainnews2025/01/22 22:22

Ethereum Initiates $2 Million Academic Grants for 2025

Ethereum Foundation launches the 2025 Academic Grants Round, offering $2 million to support innovative research in Ethereum-related fields.

Blockchainnews2025/01/22 22:22