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Saudi Arabia intends to create fund of about $40 billion to invest in artificial intelligence, NYT reports

Middle East News

2024-03-19 | 14:54

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Saudi Arabia intends to create fund of about $40 billion to invest in artificial intelligence, NYT reports

Saudi Arabia's government plans to create a fund of about $40 billion to invest in artificial intelligence, the New York Times reported on Tuesday, citing three people briefed on the plans.

Representatives of Saudi Arabia's Public Investment Fund (PIF) have discussed a potential partnership with US venture capital firm Andreessen Horowitz and other financiers in recent weeks, the newspaper reported.

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