Forbes November 1, 2024
Cash, land and cheap renewable energy were key parts of the kingdom’s pitch to become a “global hub for AI” at its annual ‘Davos in the desert” summit.
Saudi Arabia has over the last decade used its massive oil wealth to become an important backer of technology companies. Now at the Future Investment Initiative Institute, the kingdom’s annual showcase dubbed “Davos in the desert” it made its pitch to become a major hub for AI data centers.
During FII’s opening session, Yasir Al Rumayyan, chairman of Saudi’s $930 billion sovereign wealth fund, told tech companies to build the massive data centers needed to train and run new AI systems in the kingdom to take advantage of its energy resources, global...
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