$14.9 Billion Investment to Drive Artificial-Intelligence Growth
Saudi Arabia has announced a $14.9 billion investment in artificial intelligence (AI) and related technologies at the LEAP 2025 tech conference in Riyadh. Minister of Communications and Information Technology, Abdullah bin Amer Alswaha, stated that this investment will accelerate collaboration with global tech giants, fostering advancements in AI, cloud computing, and emerging technologies.
Collaboration with Leading Tech Companies
Key partners in this initiative include Google Cloud, Lenovo, Alibaba Cloud, Qualcomm, Groq, and Salesforce. This move aligns with Saudi Arabia’s vision to diversify its economy and establish itself as a global technology hub. Saudi Aramco plays a pivotal role in these investment plans. Ahmad Al-Khowaiter, Aramco’s Executive Vice President of Technology & Innovation, emphasized that AI development requires collective efforts, as no single company can achieve it alone. Aramco has signed a $1.5 billion agreement with Groq to expand AI-driven cloud computing capabilities. Additionally, Saudi manufacturing giant Alat and Lenovo have committed $2 billion to building an advanced manufacturing center integrating AI and robotics.
Local AI Innovation and Regional Tech Collaboration
Other investments include $500 million from Salesforce, $300 million from Databricks, $150 million from Tencent Cloud, and $140 million from SambaNova. Google, Qualcomm, and Alibaba Cloud have also launched initiatives focused on localized AI innovation, with Alibaba Cloud partnering with Tuwaiq Academy and STC Academy to cultivate local AI talent.
Beyond AI, the Middle Eastern tech sector is seeing further collaboration. On February 6, stablecoin issuer Tether announced a partnership with UAE real estate platform Reelly Tech to facilitate property transactions using the USDT stablecoin. This highlights the region’s strong commitment to technology-driven economic growth.r AI development.
Source：globenewswire
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