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Saudi Arabia is planning a staggering $40 billion investment in a new artificial intelligence fund to support tech startups associated with AI, chip makers, and data centers. The initiative involves a potential partnership between the Public Investment Fund and financiers, including Andreessen Horowitz, a US venture capital firm with around 100 AI startups in its portfolio. The fund is expected to launch in the second half of 2024 to help position Saudi Arabia a global AI hub.
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