Mohammed Bin Salman's AI Ambitions Get A Boost As Saudi Aramco's Venture Arm Invests $15M In South Korean AI Chipmaker

Quick Summary:

In a bid to bolster the artificial intelligence industry in Saudi Arabia, Saudi Aramco’s venture arm, Wa’ed Ventures, has invested $15 million in South Korean AI chipmaker Rebellions Inc.

Wa’ed Ventures, with a $500 million investment fund, is a key player in the Saudi Arabian tech investment scene.

The startup recently announced its intention to merge with Sapeon Korea Inc., a subsidiary of SK Telecom Co., and is considering an initial public offering in South Korea, reported Bloomberg.

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Category: Technology

Markets: United StatesSouth KoreaSaudi Arabia

Topics: Middle East Tech Benzinga News Kaustubh Bagalkote Rebellions Inc Mohammed bin Salman Global Artificial intelligence Saudi Aramco

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-23 @ 03:03:33 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 407 words

Reading Time: 3 minutes read

Sentences: 17 lines

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Copyright Owner: © Benzinga

News ID: 21744319

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