Saudi Arabia plans $40 bln push into artificial intelligence, NYT reports
Andreessen Horowitz and PIF governor Yasir Al-Rumayyan have discussed the possibility of the U.S. firm setting up an office in Riyadh.
March 19 (Reuters) - Saudi Arabia's government plans to create a fund of about $40 billion to invest in artificial intelligence, the New York Times reported on Tuesday, citing three people briefed on the plans.
Representatives of Saudi Arabia's Public Investment Fund (PIF) have discussed a potential partnership with U.S. venture capital firm Andreessen Horowitz and other financiers in recent weeks, the newspaper reported.
Andreessen Horowitz and PIF governor Yasir Al-Rumayyan have discussed the possibility of the U.S. firm setting up an office in Riyadh, according to the report.
PIF officials also discussed what role Andreessen Horowitz could play and how such a fund would work, the newspaper said, adding the plans could still change.
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