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Saudi Arabia is set to see a $100 billion investment over the next six years, with an aim to become a leader in the field of electronics and advanced industrials. On February 1, 2024, the country’s Public Investment Fund company Alat was launched. Four partnerships and the news of major investment have now been revealed. In an announcement today via press release (Feb 20) $100 billion will be invested by 2030. This will go towards enhancing the “capabilities of the technological sector, benefitting from the rapid development of this sector in Saudi Arabia.” Alat will be partnering with Softbank Group, Carrier Corporation, Dahua Technol...... Read Full article on HadNews

SoftBank Group’s Masayoshi Son is making the next move in his far-reaching artificial intelligence (AI) strategy, fundraising $100 billion for a new chip venture. The Softbank founder has long since been clear about the company’s focus on AI, with SoftBank chief financial officer Yoshimitus Goto also telling the Wall Street Journal that the company was “getting ready to go on the offensive with the AI revolution on the horizon” last year. Now, a new AI chip venture appears to be the next link in the chain. Reportedly dubbed the codename of Izanagi, the new venture would see Softbank collaborate with Arm, the chip design company that So...... Read Full article on HadNews