AI Start-Ups Thrive with Billions in Middle Eastern Investment
Sunday, 22 September 2024, 05:00
AI Start-Ups and Middle Eastern Investment
In recent news, the Saudi Public Investment Fund (PIF) has made waves in the tech world by allocating over $925 billion towards investing in emerging AI start-ups. Under the ambitious Vision 2030 initiative, Crown Prince Mohammed bin Salman aims to diversify the economy, reducing dependency on oil.
Transformative Impact of Investments
- The PIF's strategy includes backing innovative technologies that promise to reshape industries.
- Investments are poised to launch several AI-driven initiatives both locally and globally.
- By fostering start-ups, the fund underscores its commitment to building a sustainable tech ecosystem.
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