Business and Technology
Saudi Bets on AI: Announces $100 Billion AI Initiative to Lead in Global Tech
Saudi Arabia has launched Project Transcendence, a $100 billion fund aimed at advancing artificial intelligence, data analytics, and cutting-edge technologies as part of its Vision 2030 strategy. This initiative underscores the Kingdom's shift from an oil-reliant economy to becoming a global tech powerhouse.
Key players like Google, Microsoft, and Oracle are joining the effort, with investments in cloud infrastructure and AI-focused projects, including developing Arabic-language AI models. To rank among the top 15 AI leaders by 2030, Saudi Arabia is building research hubs and fostering partnerships to position itself as a central player in the global AI ecosystem.
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