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“Saudi Arabia has moved purposefully over the past 18 months to dramatically increase the number of programmes, level of support and funding available to AI entrepreneurs and startups. New programmes and initiatives are being introduced at multiple points in the ecosystem, from research universities, to government departments, to government and private sector funds, to specialist programmes run by global startup ecosystems. In creating GAIA, the Kingdom became the first mover in creating an accelerator for GenAI startups and is already funding more GenAI startups than any other programme in the region.”

Carrington Malin, Saudi backs GAIA with $1 billion [Middle East AI News]

TOP STORY

Saudi PIF, Bahraini Counterpart Mumtalakat Sign Agreement to Boost Cooperation and Investment

Saudi Arabia’s Public Investment Fund (PIF) and its Bahrani counterpart, Mumtalakat, have signed a memorandum of understanding (MoU) to expand cooperation and enable new and promising investment opportunities in Bahrain. [more]

MORE TOP STORYLINES

Amazon's AWS to launch Saudi Arabia data centers, invest over $5.3 bln

in reuters.com: Amazon.coms (AMZN.O), opens new tab cloud division Amazon Web Services said on Monday it will launch data centers in Saudi Arabia in 2026 and plans to invest more than $5.3 billion in the kingdom. The cloud region will enable customers to securely store content and run workloads while offering higher speed for its users. Amazon and its cloud competitors Google-parent Alphabet (GOOGL.O), opens new tab and Microsoft (MSFT.O), opens new tab have said they will raise their investments, primarily for data centers, to support the growing adoption of artificial intelligence technologies.

Saudi Arabia Seeks $80 Billion Investments in Push for More Tourists

Via Christine Burke and Matthew Martin in bloomberg.com: Saudi is counting on the middle-class population in India and China to boost international tourism numbers and sees the UK as an appealing market, according to Khateeb, the minister. France and Germany are also interesting prospects, though destinations requiring longer-haul flights of more than eight hours remain challenging, he said.

Saudi Arabia Rejects Attempts to Undermine UNRWA in Gaza

in aawsat.com: Saudi Arabia’s permanent representative to the United Nations Abdulaziz Al-Wasel said on Monday that the Kingdom rejects attempts to undermine the role of the United Nations Relief and Works Agency (UNRWA) in Gaza where Israel has been waging a war that has killed over 30,000 people and displaced over 80 percent of its population. Speaking at a briefing at the UN General Assembly on UNRWA, he added that Saudi Arabia was keen on continuing its support to the agency, warning of attempts to eliminate its role. Saudi Arabia is looking at all means to save UNRWA from its financial difficulties, he stated, revealing that additional funding to the agency will be announced soon.

‘To the Future’: Saudi Arabia Spends Big to Become an A.I. Superpower

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Saudi economy witnessing a fundamental shift, says minister

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Henning Larsen Architects Reveals Jeddah Opera House in Saudi Arabia

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‘World’s largest’ coral-restoration project unveiled in Saudi Arabia

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NDMC closes the April 2024 Issuance under the Saudi Arabian Government SAR-denominated Sukuk Program

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Two US law firms push into Saudi Arabia under new attorney rules

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IDC expects Saudi Arabia’s ICT spending to hit $37.4B by 2024-end

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Saudi Arabia Makes It Clear They’re Taking Design Seriously

Set within the landmark Mediateca Santa Teresa library in Milan’s Brera district, Design Space AlUla presented a smattering of projects...[By Ryan Waddoups via surfacemag.com]

Saudi Arabia marks Vision 2030’s 8-year anniversary

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Vision 2030: 87% of initiatives on track or completed

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Saudi fund PIF’s managed assets hit $749bln in 2023

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FIFA seals closer ties to Saudi Arabia with World Cup sponsor deal for oil firm Aramco

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Finimize - Saudi Aramco Scores Big With FIFA: A Four-Year World Partnership