Saudi Arabia plans to establish a nearly $40 billion fund to invest in artificial intelligence, as part of intensifying the kingdom's efforts to diversify its economy away from oil.
According to a report published by the New York Times, Saudi Arabia is considering launching an investment fund worth $ 40 billion in the second half of this year, in a move that would make the Kingdom the world's largest investor in artificial intelligence.
Over recent weeks, representatives of Saudi Arabia's Public Investment Fund have discussed a potential partnership with Andreessen Horowitz, one of Silicon Valley's largest venture capital firms.
Source (CNBC Arabia Website, Edited)
