The country’s government-run Public Investment Fund has discussed a potential partnership with the Silicon Valley investment giant and other financiers, sources told The New York Times, while cautioning that plans could still change. (The New York Times)
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The country’s government-run Public Investment Fund has discussed a potential partnership with the Silicon Valley investment giant and other financiers, sources told The New York Times, while cautioning that plans could still change. (The New York Times)
Talking point: The fund would make Saudi Arabia the largest investor in the AI sector, as it seeks to diversify its oil-reliant economy in part by focusing more on tech. Artificial intelligence has attracted a glut of capital recently amid intense hype surrounding generative AI. Andreessen Horowitz, which has long-standing ties with the sovereign wealth fund, is among those aggressively pursuing companies in the space. Bloomberg reported earlier this month that the venture capital firm is raising US$6.9 billion for a suite of new funds, including two focused on AI. The Saudi fund would be the largest AI investment vehicle the U.S. firm has participated in by far.
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