Arab Press

بالشعب و للشعب
Friday, Jun 20, 2025

Saudi PIF’s SCAI to invest $776m to boost AI in Kingdom

Saudi PIF’s SCAI to invest $776m to boost AI in Kingdom

The Saudi Company for Artificial Intelligence has announced an investment of $776 million in a joint venture with China’s SenseTime to develop the artificial intelligence ecosystem in the nation.
The announcement was made by Ayman AlRashed, CEO of SCAI, during the Global AI Summit in Riyadh on Sept.13.

SCAI — wholly owned by Saudi Arabia’s Public Investment Fund — works in line with the Kingdom’s goals outlined in Vision 2030, and it aims to position Saudi Arabia as a global AI leader by supporting local firms as they get to grips with the technology.

According to a press release, SCAI will work closely with SenseTime, and will also operate an AI lab which will serve as a dedicated research and development center, allowing the next generation of data scientists to benefit from the transfer of technology.

“Today’s agreement represents an important strategic step on SCAI’s journey to develop national capabilities and build a robust, innovation-driven AI ecosystem. We look forward to working closely to provide world-class AI solutions that will contribute to the success of diverse smart city, business intelligence, health care, and education initiatives in the Kingdom and beyond,” said AlRashed.

Xu Li, executive chairman and CEO of SenseTime, said: “It’s exciting to see the rapid digital transformation that the Kingdom of Saudi Arabia is undertaking, especially in the development of an AI ecosystem.”

Li added that the new partnership will contribute to the goals outlined in Vision 2030, and will emerge as a “driving engine of next-generation cities across the Kingdom.”

He further noted that Saudi Arabia is undergoing a rapid digital transformation, especially in the AI sector.

In January, SCAI launched operations in the Kingdom to grow and develop artificial intelligence and emerging technologies industries.

At the time, Al-Rashed said that AI is swiftly altering the way of living and the Kingdom should invest in the sector’s foundation to unveil long-term sustainable value for shareholders.

The launch of SCAI is a part of the Kingdom’s plan to diversify its economy by 2030, and also aligns with PIF’s strategy aimed at prioritizing 13 major sectors, one of which is technology.
Newsletter

Related Articles

Arab Press
0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
UK Deploys Jets to Middle East Amid Rising Tensions
Exiled Iranian Prince Reza Pahlavi Urges Overthrow of Khamenei Regime
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Syria to Reconnect to Global Economy After 14 Years of Isolation
Saudi Arabia Faces Uncertainty Over Succession After Mohammed bin Salman
Israel Confirms Arming Gaza Clan to Counter Hamas Influence
Majority of French Voters View Macron's Presidency as a Failure
U.S. Reduces Military Presence in Syria
Trump Demands Iran End All Uranium Enrichment in Nuclear Talks
Iran Warns Europe Against Politicizing UN Nuclear Report
Businessman Mauled by Lion at Luxury Namibian Lodge
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
Head of Gaza Aid Group Resigns Amid Humanitarian Concerns
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
×