Saudi government plans $100 billion AI and data infrastructure group

Bloomberg confirms rumours about ‘Project Transcendence’

His Excellency Yasir O. Al-Rumayyan, Governor of the Public Investment Fund speaking at the Future Investment Initiative

At last week’s Future Investment Initiative (FII8), global business, financial, and tech leaders gathered to discuss the transformative potential of artificial intelligence. Amid the discussions, rumors surfaced regarding the possible formation of a new AI venture by Saudi Arabia’s Public Investment Fund (PIF). With speculation suggesting that this new initiative could be as large as the electronics giant Alat, established earlier this year, some industry observers believe it may follow a model similar to that of the UAE’s AI powerhouse G42, potentially backed by up to $100 billion in funding. While no formal announcement has been made yet, Bloomberg has now confirmed some early details from confidential sources about a project codenamed ‘Project Transcendence.’

What’s at Stake?

Saudi Arabia’s investments in digital transformation, AI, and emerging technologies have already begun reshaping various sectors, from government to business and the public sphere. However, the Kingdom has yet to make a major impact in the development of its own AI products and services. Project Transcendence could be the turning point, consolidating the country’s AI resources, technology, and funding to position Saudi Arabia as a leader in developing AI-driven products and solutions.

Key Details About ‘Project Transcendence’

Bloomberg has reported that the Saudi government is planning to launch a new AI initiative with up to $100 billion in funding, under the working name ‘Project Transcendence.’ Here are some of the key insights shared by the outlet:

• Structure & Mandate: Similar to the PIF-backed Alat electronics group, Project Transcendence is expected to focus on developing a robust AI ecosystem. This includes investments in data centers, startups, and key infrastructure to create cutting-edge AI products and solutions. The group is also likely to partner with leading global tech companies to accelerate its goals.
• Collaboration with Government Bodies: The project is expected to involve multiple government agencies, which could imply that Saudi Arabia plans to bring together various existing AI initiatives and resources under one umbrella. This centralization would create a more unified national strategy for AI development.
• Global Tech Partnerships: Project Transcendence will have access to government resources and technology projects, providing an excellent opportunity to forge joint ventures and technology collaborations with international firms. This could significantly enhance Saudi Arabia’s AI capabilities on the global stage.
• Job Creation & Talent Development: As part of the initiative, Project Transcendence aims to generate new employment opportunities for Saudi citizens, boost local talent development, and strengthen the country’s pool of skilled workers in AI and related fields.
• Support for Startups: The new venture is also expected to provide funding and support for emerging AI startups, helping to foster a dynamic and growing technology ecosystem in Saudi Arabia.

Although reports earlier this year indicated that the PIF was in talks with Andreessen Horowitz and other venture capital firms to establish a $40 billion AI investment fund, this appears to be a separate initiative from the formation of the AI group itself.

Moving Quickly After the Announcement

Those familiar with how Saudi Arabia’s Public Investment Fund operates will recognize that the PIF typically ensures everything is in place before making a public announcement about new ventures. Alat, the Kingdom’s semiconductor and electronics group, serves as a prime example. The group was unveiled by Crown Prince Mohammed bin Salman in February 2024, and just weeks later, former Dell Technologies executive Amit Midha was appointed CEO. Within a short span of time, Alat struck several key partnerships, including one with SoftBank and another with King Abdulaziz City for Science and Technology (KACST) to create a national semiconductor initiative.

Given this rapid pace, once Project Transcendence is formally announced, we can expect a swift rollout of plans and deals, propelling Saudi Arabia into a more prominent role in the global AI landscape.

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Saudiya Arabistonining “Project Transcendence”: Yangi AI Tashabbusi

His Excellency Yasir O. Al-Rumayyan, Davlat Sarmoya Fondining Gubernatori, Future Investment Initiative tadbirida so‘zlagan

O‘tgan haftadagi Future Investment Initiative (FII8) tadbirida dunyoning yetakchi biznes, moliya va texnologiya mutaxassislari sun’iy intellektning transformatsion salohiyati haqida muhokama qilishdi. Shu muhokamalar davomida, Saudiya Arabistonining Davlat Sarmoya Fondi (PIF) yangi bir sun’iy intellekt (AI) tashabbusini e’lon qilishi mumkinligi haqida mish-mishlar paydo bo’ldi. Ba’zi sanoat kuzatuvchilari, bu yangi tashabbus, 2024-yilda tashkil etilgan Alat elektronika gigantiga teng bo’lishi mumkinligini va Birlashgan Arab Amirliklari (BAA)dagi G42 kabi sun’iy intellekt kompaniyasining modelini qo’llashi ehtimolini bildirishdi. Bundan tashqari, bu tashabbus uchun $100 milliard miqdorida mablag‘ ajratilishi mumkin. Hozircha rasmiy e’lon qilinmagan bo‘lsa-da, Bloomberg nashri, “Project Transcendence” deb nomlangan loyihaning dastlabki tafsilotlarini maxfiy manbalar orqali tasdiqladi.

Nima uchun bu muhim?

Saudiya Arabistonining raqamli transformatsiya, sun’iy intellekt va boshqa zamonaviy texnologiyalarga sarmoyalari mamlakatdagi turli sohalarni, jumladan hukumat, biznes va jamoat sektorini tubdan o’zgartirishga sabab bo’ldi. Biroq, shunga qaramay, Qirollik hali o’zining sun’iy intellekt mahsulotlari va xizmatlarini ishlab chiqishda katta ta’sir ko’rsata olishmagan. “Project Transcendence” bu borada muhim burilish bo‘lishi mumkin, chunki u Saudiya Arabistonining sun’iy intellekt resurslarini, texnologiyalarini va sarmoyalarini birlashtirib, mamlakatni AI mahsulotlari va yechimlarini ishlab chiqishda yetakchi davlatga aylantirishni maqsad qilmoqda.

“Project Transcendence” Loyihasi Haqida Asosiy Tafsilotlar

Bloomberg nashri Saudiya Arabistoni hukumati $100 milliard miqdorida sarmoyani jalb qilib, yangi sun’iy intellekt tashabbusini ishga tushirishni rejalashtirayotgani haqida xabar berdi. Bu loyiha “Project Transcendence” nomi bilan tanilgan. Mana, ushbu loyiha haqida taqdim etilgan ba’zi muhim tafsilotlar:

• Tashkilot tuzilishi va maqsadi: PIF tomonidan qo‘llab-quvvatlanadigan Alat elektronika guruhi kabi, “Project Transcendence” ham kuchli sun’iy intellekt ekosistemasi yaratishga qaratiladi. Bu o‘z ichiga ma’lumotlar markazlari, startaplar va sun’iy intellekt mahsulotlari hamda yechimlarini yaratish uchun zarur bo‘lgan infratuzilmalarga sarmoya kiritishni o‘z ichiga oladi. Shuningdek, global texnologiya kompaniyalari bilan hamkorlik qilish rejalashtirilgan.
• Hukumat organlari bilan hamkorlik: Loyiha bir nechta hukumat idoralari bilan hamkorlikda amalga oshirilishi kutilmoqda, bu esa Saudiya Arabistonining mavjud AI tashabbuslari va resurslarini yagona bir platforma ostida jamlashni anglatishi mumkin. Bu markazlashgan yondashuv mamlakatning sun’iy intellekt sohasidagi strategiyasini yanada birlashtiradi.
• Global texnologiya hamkorliklari: “Project Transcendence” hukumat resurslari va texnologiya loyihalariga kirish huquqiga ega bo‘lgan holda, xalqaro kompaniyalar bilan qo‘shma korxonalar va texnologik hamkorliklarni yo‘lga qo‘yish imkoniyatini yaratadi. Bu Saudiya Arabistonining global AI maydonida raqobatbardoshligini oshirishga yordam beradi.
• Ish o‘rinlari yaratish va malakali kadrlarni rivojlantirish: Loyihani amalga oshirish orqali Saudiya Arabistonida yangi ish o‘rinlari yaratilishi, mahalliy malakali kadrlar tayyorlash va mamlakatning AI va unga aloqador sohalardagi mutaxassislar bazasini kuchaytirish maqsad qilinmoqda.
• Startaplarni qo‘llab-quvvatlash: Yangi tashabbus, shuningdek, yangi sun’iy intellekt startaplarini moliyalashtirish va rivojlantirishni ko‘zda tutadi, bu esa Saudiya Arabistonida texnologik ekosistemani rivojlantirishga yordam beradi.

Garchi bu yil boshida PIF, Andreessen Horowitz va boshqa venture kapital firmalari bilan $40 milliardlik AI investitsiya fondini tashkil etish bo‘yicha muzokaralar olib borayotgani haqida xabarlar tarqagan bo‘lsa-da, bu loyiha “Project Transcendence”dan alohida tashabbus bo‘lishi mumkin.

E’lon Qilingach Nima Bo’ladi?

Saudiya Arabistonining Davlat Sarmoya Fondi qanday ishlashini biladiganlar, PIF yangi tashabbuslar haqida rasmiy e’lon qilganda, barcha tayyorgarliklar oldindan ko‘rilgan bo‘lishini yaxshi bilishadi. Alat, Saudiya Arabistonining yarim o’tgan yilgi elektronika va yarimo‘tkazgichlar guruhi, buning yorqin misolidir. Alat 2024-yil fevralida Taxt taxti prinsipi Muhammad bin Salman tomonidan e’lon qilindi va atigi bir necha hafta ichida sobiq Dell Technologies rahbari Amit Midha CEO sifatida tayinlandi. Bir necha hafta o‘tgach, Alat bir nechta muhim hamkorliklar, jumladan SoftBank bilan va King Abdulaziz Ilmiy Texnologiya Shahri (KACST) bilan milliy yarimo‘tkazgich tashabbusini yaratish bo‘yicha kelishuvlarga erishdi.

Shu tezlikda, “Project Transcendence” rasmiy e’lon qilinish bilanoq, tezkor tarzda yangi rejalari va kelishuvlar joriy qilinishi kutilmoqda, bu esa Saudiya Arabistonini global sun’iy intellekt maydonida ancha kuchliroq rolga olib chiqadi.