Saudi Minister of Communications and Information Technology Meets with Chairman of Chinese Tus-Holdings Company

Saudi Minister of Communications and Information Technology Meets with Chairman of Chinese Tus-Holdings Company
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Saudi Minister of Communications and Information Technology Meets with Chairman of Chinese Tus-Holdings Company

Saudi Minister of Communications and Information Technology Meets with Chairman of Chinese Tus-Holdings Company

Saudi Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met in China Thursday with the Chairman of the Board of Directors of Tus-Holdings Co, Wang Jiwu, and corporate leaders to set the future direction of the partnership and to establish an incubator for innovation in deep technologies in King Abdulaziz City for Science and Technology, which will be the first launch of joint innovation incubators as part of the cooperation between the two countries.

Al-Swaha is also Chairman of the Board of Directors of KACST and the Research, Development, and Innovation Development Authority (RDIA).
The minister reviewed the fruitful partnership with Tus-Holdings in laying the foundations for the success of the innovation oases in the Kingdom to include the foundational and digital infrastructure, digital resources, and platforms that support the provision of the best services and enablers for the entrepreneurship system, incubated startups, and hosted technology companies of all sizes.
Al-Swaha explained that these oases will positively impact strengthening the research, development, and innovation system in the Kingdom and contribute to building a sustainable economy.



Microsoft Plans to Invest $80 billion on AI-enabled Data Centers in 2025

FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo
FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo
TT

Microsoft Plans to Invest $80 billion on AI-enabled Data Centers in 2025

FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo
FILE PHOTO: A Microsoft logo is pictured on a store in the Manhattan borough of New York City, New York, US, January 25, 2021. REUTERS/Carlo Allegri/File Photo

Microsoft is planning to invest about $80 billion in fiscal 2025 on developing data centers to train artificial intelligence (AI) models and deploy AI and cloud-based applications, the company said in a blog post on Friday.
Investment in AI has surged since OpenAI launched ChatGPT in 2022, as companies across sectors seek to integrate artificial intelligence into their products and services.
AI requires enormous computing power, pushing demand for specialized data centers that enable tech companies to link thousands of chips together in clusters.
Microsoft has been investing billions to enhance its AI infrastructure and broaden its data-center network.
Analysts expect Microsoft's fiscal 2025 capital expenditure including capital leases to be $84.24 billion, according to Visible Alpha.
The company's capital expenditure in the first quarter of fiscal 2025 rose 5.3% to $20 billion, Reuters reported.
As OpenAI's primary backer, the tech giant is considered a leading contender among Big Tech companies in the AI race due to its exclusive partnership with the AI chatbot maker.
More than half of Microsoft's $80 billion investment will be in the United States, Vice Chair and President Brad Smith said in the blog post.
"Today, the United States leads the global AI race thanks to the investment of private capital and innovations by American companies of all sizes, from dynamic start-ups to well-established enterprises," Smith said.