Saudi Arabia has launched a company to invest across the artificial intelligence value chain.
The statement, which was published by the Saudi Press Agency, contains information that the new company has been named HUMAIN. This company is part of the ownership structure of the kingdom’s Public Investment Fund. The financial volume of the mentioned fund is $925 billion.
The mentioned statement also noted that the new company will provide data centers, artificial intelligence infrastructure, cloud capabilities, and Arabic large language models.
Moreover, the firm will serve as a machine intelligence hub for sectors such as energy, healthcare, manufacturing, and financial services.
Crown Prince Mohammed Bin Salman will chair the new entity. So far, there is no information about the planned scale of investments.
Recently, Saudi Arabia has been paying attention to its technology hub status in the context of global positioning. The country is making significant efforts to expand and strengthen the mentioned aspect of its existence in the digital dimension as part of its economic diversification plan. Among other things, Saudi Arabia has a massive artificial intelligence project worth $100 billion. The country is also rapidly expanding its data center and cloud infrastructure.
This week, President of the United States Donald Trump will visit Saudi Arabia. It is expected that this visit will become a source of strengthening the development of the country’s technology sector. The media claim that the administration of Donald Trump intends to lift some restrictions during the administration of former United States President Joe Biden, which narrows the space of possibilities in the context of Saudi Arabia’s access to advanced artificial intelligence chips.
As we have reported earlier, Relevance AI Raises $24 Million.
