Professional Growth, Technology

Saudi Arabia to set up mammoth $40 billion fund to invest in AI start-ups

Saudi Arabia is in discussions to establish a substantial $40 billion fund aimed at investing in artificial intelligence, as the nation endeavors to make its mark in an industry already flush with capital and strengthen its foothold in high-tech sectors.The country's Public Investment Fund (PIF), boasting assets estimated at $925 billion, is reportedly in negotiations with Silicon Valley's Andreessen Horowitz regarding this initiative. According to reports from The New York Times, this fund could be operational by the end of 2024, significantly surpassing existing investmen