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The Global AI Summit in Riyadh showcased the growing significance of AI in transforming economies, particularly for Saudi Arabia and the UAE. Both nations are leveraging their oil wealth to invest in AI technologies, with the U.S. and China vying for influence in the region. American tech companies see this as a strategic opportunity to deepen ties and counter China's growing presence.
Saudi Arabia's ambitious plans include a $40 billion AI fund and startup accelerators, while the UAE has established the world's first AI university. Major U.S. firms like Amazon and Microsoft are making significant investments in the region, indicating a robust interest in AI development and collaboration, despite the complex geopolitical landscape.
• Saudi Arabia plans a $40 billion fund for AI investments.
• UAE launched the world's first university dedicated to AI.
• Amazon announced a $5.3 billion investment for data centers in Saudi Arabia.
AI is a transformative technology central to economic diversification efforts in the Gulf states.
Data centers are crucial for training AI models, requiring significant energy and capital.
S.-Gulf partnerships.
OpenAI is involved in discussions for multitrillion-dollar investments in AI infrastructure in the UAE.
5 billion investment in G42 aims to expand its AI capabilities in emerging markets.
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
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Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
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