{"id":21039,"date":"2025-02-10T19:20:16","date_gmt":"2025-02-10T17:20:16","guid":{"rendered":"https:\/\/forklog.com\/en\/saudi-arabia-allocates-14-9-billion-for-ai-development\/"},"modified":"2025-02-10T19:20:16","modified_gmt":"2025-02-10T17:20:16","slug":"saudi-arabia-allocates-14-9-billion-for-ai-development","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/saudi-arabia-allocates-14-9-billion-for-ai-development\/","title":{"rendered":"Saudi Arabia Allocates $14.9 Billion for AI Development"},"content":{"rendered":"<p>Saudi Arabian authorities, in partnership with tech giants, are set to invest $14.9 billion in projects and companies related to AI and cloud computing. This was <a href=\"https:\/\/www.youtube.com\/watch?v=RGqxwSm0Unc&#038;ab_channel=%D8%A7%D9%84%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D9%84%D9%84%D8%A3%D9%85%D9%86%D8%A7%D9%84%D8%B3%D9%8A%D8%A8%D8%B1%D8%A7%D9%86%D9%8A%D9%88%D8%A7%D9%84%D8%A8%D8%B1%D9%85%D8%AC%D8%A9%D9%88%D8%A7%D9%84%D8%AF%D8%B1%D9%88%D9%86%D8%B2\">announced<\/a> by the Minister of Communications and Information Technology, Abdullah bin Amer Alswaha.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"519\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/14.9B-1024x519.webp\" alt=\"14.9B\" class=\"wp-image-251499\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/14.9B-1024x519.webp 1024w, https:\/\/forklog.com\/wp-content\/uploads\/14.9B-300x152.webp 300w, https:\/\/forklog.com\/wp-content\/uploads\/14.9B-768x390.webp 768w, https:\/\/forklog.com\/wp-content\/uploads\/14.9B-1536x779.webp 1536w, https:\/\/forklog.com\/wp-content\/uploads\/14.9B.webp 1918w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Investment presentations. Source: YouTube.<\/figcaption><\/figure>\n<p>Among the collaborating firms are Google Cloud, Lenovo, Alibaba Cloud, Qualcomm, Groq, Salesforce, and others.<\/p>\n<p>Ahmad Al-Khowaiter, Executive Vice President for Technology and Innovation at Saudi Aramco, noted during a speech that businesses in Saudi Arabia need to scale in the AI sector through partnerships.<\/p>\n<p>According to <a href=\"https:\/\/companiesmarketcap.com\/\">CompaniesMarketCap<\/a>, Aramco ranks as the seventh-largest company in the world by market capitalization, valued at $1.79 trillion.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Snimok-ekrana-2025-02-10-v-18.16.57.webp\" alt=\"Snimok-ekrana-2025-02-10-v-18.16.57\" class=\"wp-image-251500\"\/><figcaption class=\"wp-element-caption\">Source: CompaniesMarketCap.<\/figcaption><\/figure>\n<p>Al-Khowaiter stated that the Saudi giant has entered into a $1.5 billion partnership with Groq to deploy AI-based cloud computing. Aramco plans to sign agreements with other AI companies in the future.<\/p>\n<p>Saudi manufacturing giant Alat and Lenovo announced a $2 billion investment in a local facility focused on artificial intelligence and robotics. Lenovo will establish a regional headquarters in Riyadh as part of the deal.<\/p>\n<p>Google, Qualcomm, and Alibaba Cloud also announced the launch of various AI initiatives in Saudi Arabia.<\/p>\n<p>Additionally, Salesforce, Databricks, Tencent Cloud, and SambaNova have committed to investing $500 million, $300 million, $150 million, and $140 million, respectively, in the country&#8217;s technological infrastructure.<\/p>\n<p>Back in March 2024, media <a href=\"https:\/\/forklog.com\/en\/news\/saudi-arabia-to-invest-40-billion-in-artificial-intelligence\">reported<\/a> on Saudi Arabia&#8217;s preparations to create a $40 billion fund for investing in AI technologies. This initiative is in collaboration with venture firm Andreessen Horowitz.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabian authorities, in partnership with tech giants, are set to invest $14.9 billion in projects and companies related to AI and cloud computing. This was announced by the Minister of Communications and Information Technology, Abdullah bin Amer Alswaha. Investment presentations. Source: YouTube. Among the collaborating firms are Google Cloud, Lenovo, Alibaba Cloud, Qualcomm, Groq, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[438,52,1368],"class_list":["post-21039","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-artificial-intelligence","tag-investments","tag-saudi-arabia"],"aioseo_notices":[],"amp_enabled":true,"views":"61","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21039","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21039"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21038"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}