🇸🇦 AI Superpowers: Saudi Arabia
While the US and China remain the key players in the global AI race, other countries are picking up the pace of investments as well. We will be covering them, starting with Saudi Arabia.
The Kingdom of Saudi Arabia (KSA) is looking to diversify its oil-driven economy by developing tourism, sports, and technology. Initiatives include building data centers, developing AI chips, and cloud technology, opening offices of international tech companies, and launching AI startups.
💸 Investments
▶ Earlier this year, Saudi Arabia created a $100 billion fund to invest in AI and other technology.
▶ Amazon announced at a conference in Riyadh a $5.3 billion investment in data centers and AI technology in KSA.
▶ The Saudi government is in talks with the Silicon Valley venture capital firm Andreessen Horowitz about investing $40 billion in AI development. If the deal goes through, the country will become the world's largest AI investor.
🤝 Projects
✅ Last year, the Garage opened in the Saudi capital. Boasting 28,000 square meters, it is the largest startup space in the Middle East, housing more than 300 companies.
✅ The Saudi government has launched GAIA, a generative AI startup accelerator similar to Y Combinator. The $1 billion project will attract young AI entrepreneurs and create more than 300 companies over three years. Each startup will receive $40,000 and a potential investment of $100,000, provided it operates in Riyadh and registers the company in the kingdom.
✅ King Abdullah University of Science and Technology (KAUST) has become one of the world's academic centers for AI research, attracting scientists from the US, China, and other countries. They are building the Shaheen 3 supercomputer and discussing a $100 million deal with Nvidia (pending US approval).
⬆️ Prospects
📊 According to the Kingdom's Vision 2030 program, Saudi Arabia is set to become a world leader in AI by 2030.
📊 The desert along the Red Sea will be home to cities with a fully AI-powered infrastructure. The first smart city, Neom, is being built in the northwest of the country.
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