The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology stated that the country would divest from China if requested to do so by the US. Amit Midha, the chief executive officer of Alat, an investment firm backed by $100 billion in capital from the Public Investment Fund, mentioned that so far, the requests have been to keep manufacturing and supply chains separate. However, if partnerships with China were to become a problem for the US, Saudi Arabia would divest.
According to Bloomberg reports, US officials have informed their Saudi Arabian counterparts that they must choose between Chinese and American technology as they work towards developing the Saudi Arabian semiconductor industry. Ongoing discussions surrounding various national security issues have outlined this decision-making process. Midha emphasized seeking trusted, secure partnerships in the US, stating that the US is the top partner and market for AI, chips, and the semiconductor industry.
Saudi Arabia aims to establish regional leadership in advanced technology by building data centers, AI companies, and semiconductor manufacturing facilities. This goal comes amidst heightened scrutiny from the US regarding the Middle East’s connections with China. Concerns have arisen that countries like Saudi Arabia and the United Arab Emirates could potentially provide China with access to technology that their firms are restricted from purchasing from the US.
The US has already requested Abu Dhabi-based AI firm G42 to divest from Chinese technology in order to maintain access to US systems powering AI applications. This decision enabled a $1.5 billion investment from Microsoft Corp. into G42. Midha mentioned that Alat would announce collaborations with two US tech companies by the end of June. The investment firm will co-invest alongside a US investment company, although no details regarding the specific firms involved or the focus on AI, chips, or a combination of both have been disclosed.
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