US chip giant Nvidia and Saudi Arabia announced partnerships on Tuesday as part of the Kingdom's plans to develop artificial intelligence and strengthen cloud computing infrastructure with the help of foreign investment.
The deals coincide with US President Donald Trump's Gulf tour, which he kicked off in Riyadh where he met with Prince Mohammed bin Salman, Crown Prince and Prime Minister.
Saudi Arabia, which is seeking to make its economy less dependent on oil revenue, is aiming to position itself as a hub for AI and leading center for AI activity outside the United States.
A joint statement from Nvidia and Saudi Arabia listed initiatives, including building AI factories and infrastructure and training developers, but did not give financial details.
"It marks a significant step toward positioning the Kingdom as a leader among data- and AI-driven economies," said Abdullah bin Sharaf Alghamdi, president of the Saudi Data & AI Authority, the Kingdom's Public Investment Fund that focuses on AI.
Crown Prince Mohammed on Monday launched Humain, a company to develop and manage artificial intelligence technologies in Saudi Arabia.