The world might have a brand new superpower within the Nice AI race: Saudi Arabia reportedly has $40 billion earmarked to put money into synthetic intelligence expertise. A fund that dimension can be one of many world’s largest to-date focused towards the event of AI, in response to the New York Times.

People accustomed to the plans spoke to the NYT about how representatives from the dominion’s Public Funding Fund — which has long been tapped by Silicon Valley to fund tech start ups and even was as soon as a sought-after funding option for Elon Musk’s Tesla — are working with some high U.S. financiers on the AI fund, together with Andreessen Horowitz.


Globally, company funding in AI has been exploding, however such a huge funding from Saudi Arabia would make it a key international participant within the area. It will additionally fulfill the dominion’s broader objectives of differentiating its home enterprise fashions (presently closely dominated by oil) whereas rising its geopolitical affect.


The technicalities of how the fund would work, and the way a lot Andreessen Horowitz can be concerned with it, haven’t been hammered out but, the individuals instructed the Instances. They added that the push might begin to take off as early as within the second half of this 12 months.


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