Aramco’s Venture Arm Doubles Down on Thiel-Backed AI Startup

Saudi Aramco’s venture capital arm has deployed more cash to Tenderd, a United Arab Emirates-based firm backed by Peter Thiel, which uses AI-generated insights to help reduce emissions.

The move marks Wa’ed Ventures’ second investment in the startup and signals Tenderd’s technology may soon be used by Aramco, which is looking to cut emissions from its operations and boost its utilization of artificial intelligence.

“We are in the process of engaging with Aramco and we have plans in the works,” Tenderd Chief Executive Officer Arjun Mohan said in an interview.

Wa’ed’s investment was part of a $30 million ...