The initiative will focus on building AI infrastructure, attracting new talent and encouraging tech companies to invest in the country. Credit: Anggalih Prasetya/Shutterstock.

Saudi Arabia has announced plans for an artificial intelligence (AI) initiative, potentially backed by up to $100bn (SR376bn), to establish a technological hub within the country, Bloomberg reported citing people familiar with the matter.

The proposed project, named “Project Transcendence,” aims to invest in data centres, startups, and other infrastructure crucial for AI development.

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The initiative will not only focus on infrastructure but also on attracting new talent and encouraging tech companies to invest in the country.

This move is set to enhance the country’s efforts to position itself as a leading force in global AI development, with a structure akin to the sustainable manufacturing fund Alat, which is supported by $100bn in capital from Saudi Arabia’s Public Investment Fund (PIF).

A collaboration between Saudi Arabia’s PIF and Google‘s parent company Alphabet, which may see an investment ranging from $5bn to $10bn, could be the precursor to this expansive project, the news publication added.

This partnership is expected to work on developing Arabic language AI models.

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“Project Transcendence” aspires to partner with established tech giants, offering support through infrastructure and capital, with investment figures potentially reaching between $50bn and $100bn.

The project could involve multiple government bodies, focusing on funding AI infrastructure and startups, and narrowing the AI expertise gap between Saudi Arabia, the US, and China.

Saudi officials have previously conveyed their vision of creating an AI entity that would rival the United Arab Emirates’ Abu Dhabi G42 tech conglomerate.

This goal is said to be in line with Saudi Arabia’s Vision 2030 strategy, which includes becoming a top 15 country in AI by the end of the decade through domestic adoption and subsequent export of AI technology from 2030.