Saudi Arabia launches a $776 million AI joint venture through its Public Investment Fund subsidiary

September 15, 2022

At the Global AI Summit being held in Saudi Arabia, the Saudi Public Investment Fund subsidiary and the Saudi Company for Artificial Intelligence launched a $776 million joint venture with Chinese SenseTime. The joint venture will develop the AI ecosystem in the Kingdom. The SCAI will work closely with SenseTime, and will also operate an AI lab which will serve as a dedicated research and development centre, allowing the next generation of data scientists to benefit from the transfer of technology.

Read the original article in ITP.net: Saudi’s Public Investment Fund subsidiary launches $776 million AI joint venture