Saudi Aramco-backed Cognite taps India in AI expansion bet

Cognite, an industrial software firm backed by Saudi Aramco, has opened an AI services center in Bengaluru, India, as part of its expansion strategy. The company has signed agreements with a large industrial cement company and a major automotive firm, though it has not disclosed further details. Cognite's software enhances the operations and safety of industrial installations, and the firm is investing millions of dollars in India, viewing it as a significant opportunity amid global shifts away from China. The decision aligns with India's efforts to attract global companies, with firms like Apple and Tesla also expanding in the country.

Cognite, controlled by Aker ASA, recently moved its headquarters to the U.S. and serves clients including AkerBP, Cosmo Energy Holdings, and Koch Chemical. Saudi Aramco, through its subsidiary Aramco Overseas Company B.V., holds a 7.4% stake in Cognite as of February 2022. The company's expansion into India is part of a broader trend where manufacturing firms are leveraging AI to streamline operations, improve product quality, and optimize supply chains.

Key takeaways

Saudi Aramco-backed Cognite opened an AI services center in Bengaluru, India, and is exploring contracts with top conglomerates in the country.
Cognite has signed agreements with a large industrial cement company and a major automotive firm, though details were not disclosed.
The company is investing millions of U.S. dollars in India, viewing it as a significant opportunity amid global shifts away from China.
Cognite's customers include AkerBP, Cosmo Energy Holdings, and Koch Chemical, and Saudi Aramco holds a 7.4% stake in the company.

Saudi Aramco-backed Cognite taps India in AI expansion bet

Key takeaways

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