Middle Eastern sovereign wealth funds are increasing investments in Silicon Valley's AI sector. Nations like Saudi Arabia, UAE, and Qatar use tech investments to diversify their economies, with AI funding up fivefold in the past year. UAE’s MGX fund is participating in OpenAI's latest fundraising round and has partnered with BlackRock and Microsoft to support AI infrastructure. Saudi Arabia's PIF collaborates with Andreessen Horowitz on a major AI partnership. The Gulf Cooperation Council’s total wealth is set to rise by $800 billion by 2026.
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00:00It's Benzinga and here's what's on the block.
00:03Middle Eastern sovereign wealth funds are increasing investments in Silicon Valley's
00:07AI sector.
00:08Nations like Saudi Arabia, UAE, and Qatar are using tech investments to diversify their
00:13economies with AI funding up five-fold in the past year.
00:17UAE's MGX fund is participating in OpenAI's latest fundraising round and has partnered
00:22with BlackRock and Microsoft to support AI infrastructure.
00:25Saudi Arabia's PIF is collaborating with Andreessen Horowitz on a major AI partnership.
00:31The Gulf Corporation Council's total wealth is set to rise by $800 billion by 2026.
00:36For all things money, visit Benzinga.com.