Saudi Arabia launches $100B tech fund to diversify beyond oil revenues - Silicon Canals

"Humain, the newly established entity, will focus on building AI infrastructure including data centres, developing AI applications, and training talent within Saudi Arabia. According to Reuters, the fund represents a partnership between Saudi Arabia's Public Investment Fund (PIF) and several major U.S. technology firms. The goal is to create an ecosystem capable of supporting advanced AI workloads domestically rather than relying on infrastructure housed elsewhere."

"The $100 billion tech fund stands out as a signal of how seriously Riyadh is treating the race for AI dominance, and how the geopolitics of technology are reshaping capital flows worldwide. Part of the investment will flow toward chip and semiconductor supply chains, a sector that has become one of the most strategically contested spaces in global technology."

"This is consistent with the Kingdom's broader Vision 2030 strategy, which has been systematically redirecting oil revenues into technology, entertainment, tourism, and financial services. The fund also aims to attract talent from across Asia, Europe, and the Americas to build out Saudi Arabia's AI research capacity."

Saudi Arabia announced a $100 billion technology investment fund managed by Humain, a newly created entity, as part of a broader $600 billion investment package with the United States. The fund focuses on building AI infrastructure including data centers, developing AI applications, and training domestic talent. It represents a partnership between Saudi Arabia's Public Investment Fund and major U.S. technology firms, with involvement from companies like NVIDIA. The investment targets chip and semiconductor supply chains while aiming to attract global talent for AI research. This initiative aligns with Saudi Arabia's Vision 2030 strategy, which redirects oil revenues into technology, entertainment, tourism, and financial services sectors.

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