{"id":5908,"date":"2024-03-21T09:32:20","date_gmt":"2024-03-21T01:32:20","guid":{"rendered":"https:\/\/www.1ai.net\/?p=5908"},"modified":"2024-03-21T09:32:20","modified_gmt":"2024-03-21T01:32:20","slug":"%e6%b6%88%e6%81%af%e7%a7%b0%e6%b2%99%e7%89%b9%e9%98%bf%e6%8b%89%e4%bc%af%e8%ae%a1%e5%88%92%e8%ae%be%e7%ab%8b-400-%e4%ba%bf%e7%be%8e%e5%85%83-ai-%e9%a3%8e%e6%8a%95%e5%9f%ba%e9%87%91","status":"publish","type":"post","link":"https:\/\/www.1ai.net\/en\/5908.html","title":{"rendered":"Saudi Arabia reportedly plans to set up $40 billion AI venture capital fund"},"content":{"rendered":"<p data-vmark=\"12bd\">According to the New York Times.<a href=\"https:\/\/www.1ai.net\/en\/tag\/%e6%b2%99%e7%89%b9%e9%98%bf%e6%8b%89%e4%bc%af\" title=\"[Sees articles with [Saudi Arabia] labels]\" target=\"_blank\" >Saudi Arabia<\/a>Plans underway to set up $40 billion (currently around Rs. 288 billion) AI startups<a href=\"https:\/\/www.1ai.net\/en\/tag\/%e9%a3%8e%e6%8a%95%e5%9f%ba%e9%87%91\" title=\"[Sees articles with tags]\" target=\"_blank\" >venture capital fund<\/a>.<\/p>\n<p data-vmark=\"1f5a\">According to several sources.<span class=\"accentTextColor\">The Gulf state, which sits on vast oil wealth, is looking to support a range of AI tech startups<\/span>The company covers everything from chip design to data centers. The country's representative even said that Saudi Arabia is considering starting its own AI company.<\/p>\n<p data-vmark=\"4775\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5909\" title=\"171c276d-78e9-4926-a10d-6b158f6e898c\" src=\"https:\/\/www.1ai.net\/wp-content\/uploads\/2024\/03\/171c276d-78e9-4926-a10d-6b158f6e898c.jpg\" alt=\"171c276d-78e9-4926-a10d-6b158f6e898c\" width=\"940\" height=\"626\" \/><\/p>\n<p>Image source: Pexels<\/p>\n<p data-vmark=\"ef1e\">Specifically, the Saudis have discussed potential partnerships with top Silicon Valley venture capital firm Andreessen Horowitz and others, although plans are still subject to change. The fund is expected to be officially launched later this year.<\/p>\n<p data-vmark=\"21e2\">If the $40 billion scale comes true, then the<span class=\"accentTextColor\">This venture capital fund will be far larger in size than typical U.S. rivals<\/span>, second only to SoftBank's Vision Fund, the world's largest backer of startups.<\/p>\n<p data-vmark=\"9cfe\">As the AI market heats up, the<span class=\"accentTextColor\">Every investor wants to place a successful bet on the second OpenAI<\/span>The valuations of related startups have soared even higher; and given the high cost of AI hardware, it's necessary for these companies to have access to more capital.<\/p>\n<p data-vmark=\"bfdd\">Startup Anthropic has raised more than $7 billion in just one year, which is virtually unheard of in the venture capital world.<\/p>\n<p data-vmark=\"6253\">Saudi Arabia's move into AI venture capital can be seen as part of its strategy to diversify its economy. Its $900 billion sovereign wealth fund is driving the country's transformation into a regional tech hub to boost its presence in the non-oil sector.<\/p>","protected":false},"excerpt":{"rendered":"<p>Saudi Arabia is planning to set up a $40 billion (currently about Rs. 288 billion) venture capital fund for AI startups, according to a report in the New York Times. According to multiple sources, the Gulf nation, which is sitting on a huge oil fortune, is looking to back a range of AI tech startups, from chip design to data centers. Representatives of the country have even said that Saudi Arabia is considering starting its own AI company. Specifically, the Saudis have discussed potential partnerships with top Silicon Valley venture capital firm Andreessen Horowitz, among others, though plans are still subject to change. The fund is expected to be officially launched later this year. If the $40 billion<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[146],"tags":[1786,1787],"collection":[],"class_list":["post-5908","post","type-post","status-publish","format-standard","hentry","category-news","tag-1786","tag-1787"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/posts\/5908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/comments?post=5908"}],"version-history":[{"count":0,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/posts\/5908\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/media?parent=5908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/categories?post=5908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/tags?post=5908"},{"taxonomy":"collection","embeddable":true,"href":"https:\/\/www.1ai.net\/en\/wp-json\/wp\/v2\/collection?post=5908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}