
Saudi Arabia Partners with Nvidia to Spur AI Goals as Trump Visits
US chip giant Nvidia and Saudi Arabia announced partnerships on Tuesday as part of the Kingdom's plans to develop artificial intelligence and strengthen cloud computing infrastructure with the help of foreign investment.
The deals coincide with US President Donald Trump's Gulf tour, which he kicked off in Riyadh where he met with Prince Mohammed bin Salman, Crown Prince and Prime Minister.
Saudi Arabia, which is seeking to make its economy less dependent on oil revenue, is aiming to position itself as a hub for AI and leading center for AI activity outside the United States.
A joint statement from Nvidia and Saudi Arabia listed initiatives, including building AI factories and infrastructure and training developers, but did not give financial details.
"It marks a significant step toward positioning the Kingdom as a leader among data- and AI-driven economies," said Abdullah bin Sharaf Alghamdi, president of the Saudi Data & AI Authority, the Kingdom's Public Investment Fund that focuses on AI.
Crown Prince Mohammed on Monday launched Humain, a company to develop and manage artificial intelligence technologies in Saudi Arabia.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Israeli Finance Minister Says Banks Should Not Obey EU Sanctions on Settlers
Israel's Finance Minister Bezalel Smotrich on Thursday condemned the country's banks that have refused to provide services to Israeli settlers sanctioned by the European Union and warned they may have to pay compensation to them. The EU last year imposed sanctions on five Israeli settlers for violence against Palestinians and Smotrich said there were reports of sanctions being considered against other settlers. But in a letter to the banking supervisor, he said Israeli banks should not follow a "zero risk" policy since it leads to the abandonment of Israeli clients "under the guise of compliance with foreign sanctions." In a statement quoting his letter to the regulator, Smotrich called on banks to use their legal, economic, and international strength to fight "unjust sanctions", Reuters reported. "The banks' enormous profits enable them to take measured risks on behalf of their clients — especially when it comes to a national moral injustice," Smotrich, who leads the far-right Religious Zionism party, said. Should banks continue to comply with sanctions and harm clients, Smotrich said he intended to promote immediate legislation that would require banks to pay substantial compensation to affected customers. He also intends to require the Bank of Israel itself to offer banking services to citizens targeted by sanctions. Responding to the letter, the Bank of Israel said that while banks must comply with international sanctions to avoid an array of risks, a draft directive it published on Thursday aimed to ensure appropriate banking services were available for the affected customers. "Circumventing foreign sanctions regimes through the Israeli banking system exposes banking corporations to multiple risks, including compliance risks, anti-money laundering and counter-terror financing risks, legal risks, and reputational risks," the central bank said. But it said it has taken steps to comply with sanctions "without banks resorting to blanket refusals to serve such customers." While the sanctions in question concern Israeli settlers, the EU is reviewing its broad pact governing its political and economic ties with Israel in the face of mounting international pressure on Israel amid complaints about the lack of humanitarian aid reaching Gaza in the wake of the war triggered by Hamas' Oct. 7, 2023 attack.


Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
Oil Steady after US Stockpile Build
Oil prices steadied on Thursday after falling more than 1% the previous day because of a build in US gasoline and diesel inventories and cuts to Saudi Arabia's July prices for Asia. Brent crude futures were up 23 cents, or 0.35%, at $65.09 a barrel by 1148 GMT. US West Texas Intermediate crude gained 16 cents, or 0.25%, to $63.01 a barrel. Oil prices closed around 1% lower on Wednesday after official data showed that US gasoline and distillate stockpiles grew more than expected, reflecting weaker demand in the world's largest economy. Geopolitics and the Canadian wildfires, which can reduce oil production, provide price support despite a potentially over-supplied market in the second half of the year with expected OPEC+ production hikes, PVM analyst Tamas Varga said. The price cut by Saudi Arabia followed the OPEC+ move over the weekend to increase output by 411,000 barrels per day (bpd) for July. The strategy of OPEC's Saudi Arabia is partly to punish over-producers by potentially unwinding 2.2 million bpd between June and the end of October, in a bid to wrestle back market share, Reuters previously reported. "Oil demand will be shaped by trade negotiations between the US and its trading partners," PVM's Varga said.


Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
GASTAT Announces 1,673,230 Pilgrims for Hajj
The General Authority for Statistics (GASTAT) announced on Thursday that a total of 1,673,230 pilgrims are performing Hajj. Of these, 1,506,576 arrived from abroad, while 166,654 are from within the Kingdom, including both citizens and residents. According to a GASTAT press release, male pilgrims, both internal and external, totaled 877,841, while female pilgrims numbered 795,389. GASTAT also revealed that 1,435,017 pilgrims arrived in the Kingdom via airports, 66,465 through land border crossings, and 5,094 via seaports. GASTAT's methodology for these statistics relies primarily on administrative records from the Ministry of Interior. This approach, which has been consistently adopted over the past five years, aims to provide high-accuracy and reliable register-based data for Hajj statistics, utilizing a standardized model with several key components. As the Kingdom's official statistical authority, GASTAT is the exclusive provider of official statistics in Saudi Arabia and is entrusted with overseeing all national statistical activities, including technical supervision, conducting field surveys and research, data analysis, and managing the documentation, preservation, and tabulation of statistical information across all sectors of life in the Kingdom. On this occasion, GASTAT President Dr. Fahad Aldossari extended his sincere appreciation to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, for their unwavering support and comprehensive care provided to the pilgrims.