Vedanta Plans Saudi Spending Boost in Push for Copper, Gold

Saudi Arabia has entered into a partnership with Elon Musk's artificial intelligence company, xAI, to establish a data center in the kingdom. This collaboration aims to enhance Saudi Arabia's technological infrastructure and support its ambitions in the AI sector. The deal signifies a growing interest in AI technologies within the region, aligning with the country's broader economic diversification goals.

AI video startup Luma AI has successfully raised $900 million in a Series C funding round led by Humain, bringing its valuation to approximately $4 billion. The company, founded by Indian-American CEO Amit Jain, is also partnering with Humain to develop a 2GW AI cluster in Saudi Arabia, marking a significant investment in the region's AI infrastructure.

Elon Musk announced that his artificial intelligence startup, xAI, plans to develop a 500 megawatt data center in Saudi Arabia in collaboration with the state-backed AI startup Humain. The data center will utilize Nvidia chips, marking a significant investment in the region's AI infrastructure.

Elon Musk's xAI plans to establish a 500 megawatt data center in Saudi Arabia in collaboration with the state-backed AI venture Humain, utilizing chips from Nvidia Corp. This initiative is part of a broader strategy to enhance AI capabilities in the region.

The US is set to approve the sale of advanced artificial intelligence chips to the Saudi Arabian AI firm Humain, according to sources familiar with the matter. This decision comes as Saudi Crown Prince Mohammed bin Salman meets with US President Donald Trump, marking a significant step for the state-backed venture. The approval is seen as a positive development for both the US technology sector and Saudi Arabia's ambitions in AI.

Tareq Amin is promoting Saudi Arabia as a prime destination for AI computing power, leveraging the country's oil wealth. His sales pitch has gained traction in Silicon Valley, where tech companies are increasingly seeking robust AI infrastructure. This initiative aligns with Saudi Arabia's broader strategy to diversify its economy and invest in technology sectors, moving away from its traditional reliance on oil revenues.