Official announcements from tech companies or Saudi Arabia's government

Saudi Arabia's Project Transcendence: $100 Billion AI Initiative to Compete with UAE, Partnering with Alphabet

Nov 12, 2024, 07:31 PM

Saudi Arabia has announced a significant investment in artificial intelligence through a new initiative called Project Transcendence, which is set to allocate $100 billion. This project aims to establish the kingdom as a global leader in AI technology and infrastructure, competing directly with advancements made in the UAE. The initiative will involve a partnership with Alphabet Inc. (GOOG) to enhance AI capabilities and attract talent to the region. This move aligns with Saudi Arabia's broader Vision 2030 strategy, which seeks to diversify the economy and reduce dependency on oil revenues. Meanwhile, Pakistan is looking to emulate Saudi Arabia's successes by developing its first Urdu language model, indicating a growing interest in AI development in the region.