Algeria’s Algérie Télécom has launched an $11 million investment fund for AI, cybersecurity, and robotics startups. The initiative aims to foster digital transformation, with a goal of creating 20,000 startups and contributing 7% of the national GDP to AI by 2027. The country is expanding digital infrastructure to support innovation.
Salesforce is investing $500 million in AI initiatives in Saudi Arabia, unveiling Hyperforce and collaborating with major firms to expand its AI-driven customer service platform. The company will also establish a regional headquarters in Riyadh and upskill 30,000 Saudi citizens by 2030, contributing to the country’s AI ambitions.
Salesforce has announced a $500 million investment in Saudi Arabia, focusing on AI adoption, workforce development, and expanding its regional presence. The investment includes bringing Hyperforce and Agentforce to the Kingdom, upskilling 30,000 citizens in AI, and partnering with Princess Nourah University to empower women in the digital economy.
Middle Eastern organizations plan to increase AI investments by over 65% in the next year, despite facing challenges in talent and technology. A new Deloitte report highlights the growing opportunities in AI, as well as the hurdles in adopting and scaling AI solutions effectively across the region.
Smpl Fund I has invested USD 250K in multiple AI and tech companies within the Qora71 portfolio, supporting the growth of the MENA tech ecosystem. The USD 10 million venture fund aims to foster AI innovation and provide seed capital to emerging startups in the region.
MBZUAI has appointed a new Board of Trustees, including AMD CEO Dr. Lisa Su, to strengthen its global AI standing and align with Abu Dhabi’s AI investment strategy. The reconstituted board aims to bolster the university’s role in AI research, development, and its connection to Abu Dhabi’s future economic growth.
Arcapita, in partnership with Parkway Venture Capital, is investing in a high-growth AI portfolio focused on robotics, quantum computing, and generative AI. The portfolio includes Figure AI and SandboxAQ, aiming to provide exposure to early-stage businesses shaping the future of AI technology, a market expected to grow significantly by 2030.
