Silicon Valley and Wall Street are increasingly looking to the Middle East for financial backing to support their artificial intelligence ambitions. Saudi Arabia and the UAE are making substantial investments in AI projects, infrastructure, and partnerships with global technology firms. Saudi Arabia's Vision 2030 includes significant AI investment, including a proposed $40 billion fund in collaboration with Silicon Valley's Andreessen Horowitz. The UAE is also aggressively pursuing AI, combining state-backed capital with strategic partnerships, exemplified by Abu Dhabi's G42, which is expanding its AI footprint globally.
These investments aim to diversify Middle Eastern economies beyond oil and establish them as key players in the AI landscape. Saudi Arabia's annual tech event, LEAP, has already spurred billions in investments in AI and cloud services. The construction of data centres and the localisation of large language models are also attracting venture capital firms to focus on application-layer startups in the region.
These partnerships are also flowing into US AI infrastructure, with Middle Eastern entities investing billions in US data centres and AI development. These deals are viewed as positive for US AI companies, securing the Middle East as a key customer of US technology.
