Google Backs Saudi AI Fund as Trump, MBS Tout New Investments

Saudi Arabian venture capital firm STV launched a $100 million artificial intelligence fund with backing from Google as part of a package of deals announced during US President Donald Trump’s visit to the kingdom.

The fund will invest in early-stage startups in the Middle East and North Africa, with a focus on ventures specialized in the application-layer of AI, and support the development of infrastructure, according to a statement. It didn’t disclose the amount of capital put up by the Alphabet Inc. unit.

The partnership was part of a slew of agreementsinked on Tuesday between the US and ...