Saudi Arabia's $14.9 Billion AI Investment Unveiled at LEAP 2025; Lenovo Expands Regional Presence

February 11, 2025
Saudi Arabia's $14.9 Billion AI Investment Unveiled at LEAP 2025; Lenovo Expands Regional Presence
  • Naver's exhibition at the conference, themed 'AI for Saudi Arabia, Powered by Naver,' showcases services currently in use in South Korea that can be adapted for the Saudi market.

  • The LEAP 2025 Tech Conference is organized by the Ministry of Communications and Information Technology, SAFCSP, and Tahaluf Company, aiming to attract industry leaders and decision-makers.

  • DeepFest, another event, will highlight significant advancements in AI across sectors, featuring live demos and discussions on AI ethics and governance.

  • Tahaluf aims to remain responsive to emerging technologies, with ambitions to advance innovations in AI, fintech, renewable energy, and biotech in the future.

  • On February 10, 2025, Saudi Arabia made headlines by announcing a substantial $14.9 billion investment in artificial intelligence during the LEAP 2025 Tech Conference held in Riyadh.

  • This investment aligns with the growing trend among tech giants like Google, Qualcomm, and Alibaba Cloud, which have initiated various localized AI innovation projects.

  • In addition to these developments, Lenovo is set to establish a regional headquarters in Saudi Arabia as part of its expansion strategy.

  • Ahmad Al-Khowaiter, Executive Vice President of Technology and Innovation at Aramco, emphasized the necessity for collaboration among multiple companies to fully leverage AI's potential.

  • Despite facing U.S. export controls, Groq has successfully secured the necessary licenses to ship its AI chips to Dammam, aimed at enhancing the performance of chatbots and large language models.

  • Groq's partnership with Aramco Digital, established in December 2024, is focused on developing a significant AI hub in the region.

  • Han Dong-geun, Naver's public relations officer, highlighted the importance of creating AI models tailored specifically for Saudi Arabia to ensure the country's technological independence.

  • In a related initiative, Saudi Minister of Human Resources and Social Development, Ahmed Al-Rajhi, launched digital services aimed at improving accessibility, including a Virtual Branch and Digital Childcare Platform.

Summary based on 18 sources


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