Strategic investments by sovereign wealth funds mark a significant shift in global tech leadership. We discuss what’s driving these investments and which firms are leading the charge.
OpenAI, Lucid Motors, and Mistral are all funded by Gulf sovereign wealth funds.
Over the past few years, Saudi Arabia’s Public Investment Fund (PIF) and the UAE’s Mubadala Investment Company have been investing heavily in artificial intelligence and climate technology, including its infrastructure and governance.
PIF has become a heavyweight in the AI landscape, backing firms that are designing the backbone of the future tech-scape.
A key highlight of this push is its investment in Mistral, a French generative AI startup rapidly emerging as Europe’s answer to American and Chinese led AI firms.
Mistral’s open-source large language models, funded in part by Sanabil Investments (a PIF affiliate), position Saudi Arabia squarely at the centre of global AI innovation.
PIF has also doubled down on Databricks—a data and AI powerhouse out of the U.S. that enables large-scale AI deployment in regulated industries. Together, these moves give Saudi Arabia not just equity, but intellectual and strategic capital.
In collaboration with Saudi’s Aramco Digital, U.S.-based semiconductor firm Groq is helping develop ultra-fast AI data centres inside the Kingdom…to read more click here.