Saudi Arabia plans $40 bln push into artificial intelligence, NYT reports

Saudi Arabia plans $40bn AI fund

Saudi Arabia’s sovereign wealth fund is in talks with American venture capital firm Andreessen Horowitz and potentially others to create a $40bn fund to invest in artificial intelligence, according to reporting by The New York Times, which was later confirmed by CNBC sources. The move, which two people with knowledge of the matter told CNBC

Saudi Arabia plans to make a $40 billion push into the AI arms race: report

The Middle Eastern country is reportedly in talks with Andreessen Horowitz on the venture.HansMusaSaudi Arabia is going to splash serious money on AI, according to The New York Times. It's in talks with Andreessen Horowitz to partner on $40 billion in investments, the Times reported.The US government may not take too kindly to Saudi money flowing into US-based AI firms.Saudi Arabia wants a piece of the booming AI market.The Saudi government is p…

With $40B fund, Saudi Arabia looks to become world leader in AI

The fund would make the Gulf state the world’s largest investor in AI and help the kingdom realize its Vision 2030 agenda to diversify the economy away from oil.

Saudi Arabia plotting $40billion takeover of Artificial Intelligence industry

Saudi Arabia has previously touted itself as "well positioned to be an AI hub outside of the US" as the Crown Prince continues his investment spree.

Saudi Arabia plans $40bn push into artificial intelligence, NYT

BENGALURU: 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, according to Reuters. Representatives of Saudi Arabia’s Public Investment Fund have discussed a potential partnership with US venture capital firm Andreessen Horowitz and other financiers in recent weeks, the newspaper reported.