Saudi Arabia Eyes Multibillion-Dollar AI Partnership With Private Equity Titans

Saudi Arabia is eyeing a multibillion-dollar partnership with private equity titans Blackstone Inc. and BlackRock Inc. to invest in its new artificial intelligence company, Humain. The proposed deal aims to leverage the investment expertise of these global firms to boost Saudi Arabia's AI capabilities and drive technological advancements in the region. Humain, the Saudi-based AI company, is seeking to attract substantial investments from the private equity firms, which are reportedly competing to secure a stake in the venture. The partnership could involve billions of dollars in funding, reflecting the Kingdom's ambition to position itself as a hub for AI innovation and development. The move aligns with Saudi Arabia's broader strategy to diversify its economy and reduce its reliance on oil exports. By capitalizing on the expertise and financial resources of prominent global investors, the country aims to accelerate its digital transformation and establish a strong presence in the rapidly evolving AI landscape.