Saudi Arabia is considering a new artificial intelligence project with up to $100 billion in backing, aiming to develop a technology hub capable of rivaling neighboring United Arab Emirates, sources familiar with the matter said.
The state-backed entity will invest in data centers, startups and other infrastructure to develop artificial intelligence, the sources said, asking not to be identified, discussing projects that are not yet public . The initiative, dubbed “Project Transcendence”, will also focus on recruiting new talent to the kingdom, developing the local ecosystem and encouraging technology companies to invest resources in the country, they said.
