Saudi Arabia's Public Investment Fund managing director Yasir al-Rumayyan speaks at the Bloomberg Global Business Forum in New York City, on Sep 20, 2017. Saudi Arabia's government plans to create a fund of about US$40 billion to invest in artificial intelligence, the New York Times reported on Tuesday , citing three people briefed on the plans.
Andreessen Horowitz and PIF governor Yasir Al-Rumayyan have discussed the possibility of the US firm setting up an office in Riyadh, according to the report. Other venture capitalists may participate in the kingdom's artificial intelligence fund, which is expected to commence in the second half of 2024, the newspaper said.
Source: Tech Daily Report (techdailyreport.net)
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