Saudi Arabia has pledged $14.9 billion toward AI development through strategic partnerships with global tech giants, including Google, Lenovo, and Alibaba, as part of its ambition to establish itself as a leading AI hub in the region.
Saudi Arabia has unveiled $14.9 billion in combined investments and projects for the AI sector during a major tech conference in Riyadh.
On Feb. 9, Saudi Minister Abdullah bin Amer Alswaha announced that the kingdom, in collaboration with global tech leaders, will invest $14.9 billion in AI, emerging technologies, and cloud computing. Key partners in this initiative include Google Cloud, Lenovo, Alibaba Cloud, Qualcomm, Groq, and Salesforce, among others.
According to CompaniesMarketCap data, Aramco ranks as the seventh-largest company in the world by market capitalization, trailing behind global tech giants such as Apple, Amazon, Nvidia, Microsoft, and Google.
Major AI Investments in the Middle East
Saudi Arabia is attracting significant AI investments, with multiple global tech firms committing to regional expansion and innovation.
Saudi manufacturing giant Alat and Lenovo have jointly announced a $2 billion investment to develop a state-of-the-art AI and robotics-driven manufacturing and tech facility in the kingdom. As part of the agreement, Lenovo will also establish its regional headquarters in Riyadh.
In addition, Google, Qualcomm, and Alibaba Cloud have unveiled various AI initiatives aimed at advancing localized AI innovation across the region.
Other major tech players have also made significant investment commitments, including:
- Salesforce – $500 million
- Databricks – $300 million
- Tencent Cloud – $150 million
- SambaNova – $140 million
Meanwhile, in an unrelated but concurrent development, stablecoin issuer Tether announced a partnership with UAE-based real estate platform Reelly Tech on Feb. 6, signaling further fintech expansion in the region.
