Saudi Arabia has made a bold move in artificial intelligence (AI), announcing $14.9 billion in investments and projects. The announcement came during a major tech conference in Riyadh. This is signalling the kingdom’s commitment to becoming a global AI powerhouse.
On February 9, Saudi Minister Abdullah bin Amer Alswaha revealed the investment plan, which includes partnerships with leading tech giants. Collaborators include Google Cloud, Lenovo, Alibaba Cloud, Qualcomm, Groq, and Salesforce. The funds will support AI, emerging technologies, and cloud computing.
Ahmad Al-Khowaiter, Aramco’s executive vice president of technology and innovation, highlighted the need for collaboration. “No one company can deliver the promise of AI. It has to be a partnership,” he said. Aramco, the world’s seventh-largest company by market capitalization, is taking a leading role in AI expansion.
Aramco has signed a $1.5 billion deal with AI chipmaker Groq to enhance cloud computing capabilities. Meanwhile, Saudi manufacturing leader Alat and Lenovo committed $2 billion to develop an advanced AI and robotics-based tech facility. Lenovo will also establish its regional headquarters in Riyadh as part of the agreement.
Google, Qualcomm, and Alibaba Cloud are also launching initiatives focused on localized AI innovation. Additional investments include $500 million from Salesforce, $300 million from Databricks, $150 million from Tencent Cloud, and $140 million from SambaNova.
Saudi Arabia’s ambitious AI investments align with its Vision 2030 strategy, which aims to diversify the economy and reduce reliance on oil. The kingdom is positioning itself as a leader in the AI-driven future by fostering cutting-edge technology and innovation.
