Saudi Arabia is planning a new artificial intelligence project with backing of as much as $100 billion as it seeks to develop a technological hub to rival the neighboring United Arab Emirates, people familiar with the matter said.
The state-backed entity will invest in data centers, startups and other infrastructure to develop artificial intelligence, the people said, asking not to be identified discussing plans that aren’t yet public. The initiative, called “Project Transcendence,” will also focus on recruiting new talent to the kingdom, developing the local ecosystem and encouraging tech companies to put resources in the country, they said.
Such ...
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