Saudi Arabia's stc Group and Research, Development, and Innovation Authority Partner to Launch AI Lab 

Saudi Arabia's stc Group and Research, Development, and Innovation Authority Partner to Launch AI Lab 
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Saudi Arabia's stc Group and Research, Development, and Innovation Authority Partner to Launch AI Lab 

Saudi Arabia's stc Group and Research, Development, and Innovation Authority Partner to Launch AI Lab 

stc Group and the Research, Development, and Innovation Authority signed on Tuesday a cooperation agreement to establish the stc Group Artificial Intelligence Lab. The strategic partnership aims to support and empower pioneering projects in Saudi Arabia.

The agreement was signed by Research, Development, and Innovation Authority acting Supervisor-General Dr. Mohammed Al-Otaibi and stc Group chief technology officer Eng. Haitham Al-Faraj on the sidelines of the Global Artificial Intelligence Summit, which is being held in Riyadh. The summit focuses on developing effective mechanisms to support national projects aligned with Saudi Vision 2030.

The partnership will provide the necessary capabilities to foster innovative ideas and projects that contribute to a knowledge-based economy and solidify Saudi Arabia's position as a global technology hub.

It represents a significant step towards creating a supportive environment for innovation and entrepreneurship, driving sustainable economic growth, and developing national capabilities in various technical fields.

The stc Group's artificial intelligence (AI) lab will serve as a platform for testing and developing innovative technical solutions. It will provide an integrated environment to support ideas and transform them into products and services that enhance Saudi Arabia's global competitiveness and achieve national targets.

This includes increasing the number of startups, supporting entrepreneurs, providing a conducive environment for innovation, and increasing research and development spending through collaboration between government agencies and private-sector companies.

The lab will also contribute to increasing the number of patents, creating new job opportunities, and supporting the transformation of ideas into inventions at the global level.



Trump Says 'Very Close to a Deal' on TikTok

FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
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Trump Says 'Very Close to a Deal' on TikTok

FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo
FILE PHOTO: A 3D-printed miniature model of US President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

President Donald Trump said his administration was "very close" to a deal to find a buyer for TikTok, which faces a US ban if not sold by its Chinese owner by the weekend.

"We're very close to a deal with a very good group of people," Trump told reporters aboard Air Force One, adding that it involved "multiple" investors but giving no further details.

The hugely popular video-sharing app, which has over 170 million American users, is under threat from a US law that passed overwhelmingly last year and orders TikTok to split from its Chinese owner ByteDance or face a ban in the United States, reported AFP.

Motivated by national security fears and widespread belief in Washington that TikTok is ultimately controlled by the Chinese government, the law took effect on January 19, one day before Trump's inauguration.

But the Republican president quickly announced a delay that has allowed it to continue to operate; that delay is set to expire on April 5.

Trump has downplayed risks that TikTok is in danger of being banned in the United States, saying he remains confident of finding a buyer for the app's US business.

The US president also suggested TikTok could even be part of a broader deal with China to ease the stinging tariffs he imposed on Beijing as part of a worldwide blitz of levies.

Asked Thursday if he was willing to make deals with countries on tariffs, he said: "As long as they are giving us something that is good. For instance with TikTok."

He added: "We have a situation with TikTok where China will probably say we'll approve a deal but will you do something on the tariffs. The tariffs give us great power to negotiate."

According to reports, the most likely solution would see existing US investors in ByteDance roll over their stakes into a new independent global TikTok company.

Additional US investors, including Oracle and Blackstone, the private equity firm, would be brought on to reduce the proportion of Chinese investors.

Much of TikTok's US activity is already housed on Oracle servers, and the company's chairman, Larry Ellison, is a longtime Trump ally.

But uncertainty remains, particularly over what would happen to TikTok's valuable algorithm. The New York Times suggested the new company could license it from ByteDance.

Amazon has also reportedly made a last-minute bid to buy TikTok.