The Public Investment Fund (PIF) has announced, in partnership with Google Cloud, the launch of a global artificial intelligence hub in the Kingdom, near the city of Dammam in the Eastern Province. The strategic move comes as part of the eighth edition of the Future Investment Initiative forum, further cementing the Kingdom's position as a leading hub for technological innovation and artificial intelligence on the global stage.

The new hub is expected to contribute cumulatively more than SAR 265 billion (roughly $71 billion) to the Kingdom's GDP over eight years, according to research estimates conducted by Google Cloud in partnership with consulting firm Access Partnership. The project will help create thousands of direct and indirect jobs, with a focus on high-level skills, boosting opportunities for Saudi youth in the digital job market.

The partnership between PIF and Google Cloud aims to develop the capabilities of Saudi talent through advanced programs in artificial intelligence and digital skills, aligning with the Kingdom's strategic goal of achieving 50% growth in the telecommunications and information technology sector. The partnership will also give local and international institutions and startups access to advanced Google Cloud technologies, including the Vertex AI platform and modern tensor processing units (TPUs) and GPUs.

Yasir Al-Rumayyan, Governor of the Public Investment Fund, underscored the importance of the partnership, saying: "We are proud to welcome Google Cloud's new hub in the Kingdom. This partnership supports the Fund's role in investing in human and technological capital, and reaffirms the Kingdom's position as a global technology hub."

For her part, Ruth Porat, President and Chief Investment Officer of Google and Alphabet, commented: "We are committed to accelerating the adoption of AI solutions in the Kingdom, enhancing its ability to seize opportunities across various sectors, such as healthcare and financial services."

The initiative also includes developing Arabic-language models, with the two sides collaborating to strengthen Arabic-language capabilities in Google's Gemini generative AI model. Local companies and researchers will have the opportunity to build advanced Arabic-language applications, boosting the Kingdom's presence on the global AI landscape.