Saudi Arabia Invests $150 Billion in AI Startups, Including in Europe
Saudi Arabia has announced a $150 billion investment to support artificial intelligence (AI) startups, including those in Europe. The kingdom aims to become the global capital of AI, with the help of 24 major investors, known as "Family Offices," such as Olayan Saudi Holding Company and Al Rajhi Holding Group.
Crown Prince Mohammed bin Salman (MBS) is going all out to achieve this goal, despite challenges, such as the difficulty of attracting tech talent in competition with Dubai. The kingdom hopes that these investments will create a solid technological ecosystem.
France, recognized for its expertise in AI and its negotiating capabilities, could benefit from these investments, with local startups ready to attract foreign funds. For Saudi investors, this would be an opportunity to support innovative projects.
European companies, particularly startups, must ask themselves: do they want to raise funds in Saudi Arabia? If so, it is essential to present convincing projects to capture the attention of these Family Offices.
