Saudi Arabia AI and Chips Fund Would Divest From China If US Asked, CEO Says
May 08, 2024 - news.bensbites.com
The CEO of Saudi Arabia's new investment fund for semiconductor and artificial intelligence technology, Alat, has stated that the country would divest from China if asked to do so by the US. Amit Midha revealed that although current requests have been to maintain separate manufacturing and supply chains, the country would be willing to divest if its partnerships with China posed a problem for the US.
Alat, backed by $100 billion in capital from the Public Investment Fund, is a significant player in the tech investment field. This statement by its CEO underscores the geopolitical complexities surrounding tech investments and the influence of the US in global investment decisions.
Key takeaways:
The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology has stated the country would divest from China if asked by the US.
So far, the requests have been to keep manufacturing and supply chains separate.
If the partnerships with China become a problem for the US, Saudi Arabia will divest.
The statements were made by Amit Midha, the CEO of Alat, an investment firm backed by $100 billion in capital from the Public Investment Fund.
