{"id":617379,"date":"2024-03-20T00:00:00","date_gmt":"2024-03-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/20\/is-pifs-usd-40-bn-ai-venture-a-tech-game-changer\/"},"modified":"2024-03-20T00:00:00","modified_gmt":"2024-03-20T00:00:00","slug":"is-pifs-usd-40-bn-ai-venture-a-tech-game-changer","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/20\/is-pifs-usd-40-bn-ai-venture-a-tech-game-changer\/","title":{"rendered":"Is PIF\u2019s USD 40 bn AI venture a tech game-changer?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>The Public Investment Fund may be cooking up a world-scale AI play<\/strong>, with officials said to be exploring the setup of a USD 40 bn fund to invest in artificial intelligence, the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/03\/19\/business\/saudi-arabia-investment-artificial-intelligence.html\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2024\/03\/19\/business\/saudi-arabia-investment-artificial-intelligence.html\" style=\"\" rel=\"noopener\">New York Times<\/a> reports. The fund would make PIF the world\u2019s largest investor in AI and <strong>it could start investing as early as the second half of this year<\/strong>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Possibly on board: Andreessen Horowitz<\/strong>, also known as A16Z, long one of Silicon Valley\u2019s highest-profile venture capital firms. Co-founder Ben Horowitz is said to be a friend of PIF Governor Yasir Al Rumayyan, with the two having reportedly spent time together socially last month in Las Vegas for the Super Bowl.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The fund would invest in everything AI<\/strong>, from chipmakers, AI companies to data centers, the Times says in its exclusive.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>This means we all have two must-reads this morning: <\/strong>A16Z co-founder Marc Andreessen is a polarizing figure in some circles, but he\u2019s been the clearest and most enthusiastic communicator on the notion that <a target=\"_blank\" href=\"https:\/\/a16z.com\/why-software-is-eating-the-world\/\" style=\"\" rel=\"noopener\"><\/a><a target=\"_blank\" href=\"https:\/\/a16z.com\/why-software-is-eating-the-world\/\" style=\"\" rel=\"noopener\">\u201csoftware is eating the world,\u201d<\/a> an idea he first pushed in a seminal 2011 essay. It shouldn\u2019t be a surprise, then, that he sees massive potential in AI. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Go deeper yourself <\/strong>in two essays that made big waves last year \u2014 and that still resonate across the Valley:<\/p>\n<ul>\n<li><a target=\"_blank\" href=\"https:\/\/a16z.com\/ai-will-save-the-world\/\" style=\"\" rel=\"noopener\">Why AI will save the world<\/a> <\/li>\n<li><a target=\"_blank\" href=\"https:\/\/a16z.com\/the-techno-optimist-manifesto\/\" style=\"\" rel=\"noopener\">The techno-optimist manifesto<\/a> <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>LinkedIn wants you to level up your high scores and your r\u00e9sum\u00e9s.<\/strong> The Microsoft-owned company whose main purpose has, since inception, been networking, is now looking to break into gaming, reports <a target=\"_blank\" href=\"https:\/\/techcrunch.com\/2024\/03\/16\/linkedin-wants-to-add-gaming-to-its-platform\/?guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAALvZdIGOWvYqeDfUiP9VOc8smT420FeGg2fHbw4ZU7Oa-GQSIKQ0gwtld7bFdvTcEzI5QH1u5T7uEdfX-I77-zGgob5-xYvXR_TD30UEol4dEn9VjFNJG3iqVfEVIXWZG_ytH7tMwGOhHPqesTJFbpcm7xoOXebdss2r5-yfq8MD&guccounter=2\" style=\"\" rel=\"noopener\">TechCrunch<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The move isn\u2019t fully baked just yet:<\/strong> App researchers stumbled on code that tipped them off to what Microsoft was up to, and a LinkedIn spokesperson confirmed the findings to TechCrunch. The company seems to be trying to get on the puzzle-mania bandwagon that launched simple games like <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/games\/wordle\/index.html\" style=\"\" rel=\"noopener\">Wordle<\/a> to USD mn valuations. Three games the company seems to be working on are titled Queens, Interference, and Crossclimb.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Why?<\/strong> To boost the time people are spending on the platform. LinkedIn has a daily <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/pulse\/important-linkedin-statistics-data-trends-oleksii-bondar-pqlie\/\" style=\"\" rel=\"noopener\">user access<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/pulse\/important-linkedin-statistics-data-trends-oleksii-bondar-pqlie\/\" style=\"\" rel=\"noopener\">rate<\/a> of 16.2%, and a monthly user access rate of 48.5%. While it is technically a social platform, people don\u2019t really consider it a place to congregate.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>How will it work?<\/strong> App researcher <a target=\"_blank\" href=\"https:\/\/twitter.com\/nima_owji\/status\/1769016601360146640?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1769016601360146640%7Ctwgr%5Ea6d1bb61415974c8b6473b760c008d43282ddbdc%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Ftechcrunch.com%2F2024%2F03%2F16%2Flinkedin-wants-to-add-gaming-to-its-platform%2F\" style=\"\" rel=\"noopener\">Nima Owji<\/a>, who broke news of the code, says it seems like scores will be organized by place of work, with employees being ranked on a company-wide leaderboard.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Andreessen Horowtiz and PIF could be partnering up to invest in AI<\/p>\n","protected":false},"author":1,"featured_media":617380,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[7094,633,638,7345],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617379","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-ai","tag-enterprisepm","tag-for-your-commute","tag-public-investment-fund","wpautop","entry"],"acf":{"mongo_id":"75157f12-dace-4841-b045-c128d9f4ff26","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/389.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[617374],"teaser":"Andreessen Horowtiz and PIF could be partnering up to invest in AI","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.2b88807f-baa8-4bad-9e9e-ee42b76a070f.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Is PIF\u2019s USD 40 bn AI venture a tech game-changer? 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Plus: The Middle East beckons for Silicon Valley tech investors","author":"enterpriseam admin","date":"13 April 2023","format":false,"excerpt":"Tupperware\u2019s brand name has outstripped the company\u2019s ability to innovate","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/4\/617.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548377,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/07\/saudi-wealth-fund-sets-up-company-to-invest-in-egypt\/","url_meta":{"origin":617379,"position":1},"title":"Saudi wealth fund sets up company to invest in Egypt","author":"enterpriseam admin","date":"7 August 2022","format":false,"excerpt":"Introducing the SEIC: Saudi Arabia\u2019s sovereign wealth fund has set up a company to manage its investments in Egypt as it prepares to deploy bns of USD in the country in the coming months, it said in a statement on Thursday. The Saudi Egyptian Investment Company (SEIC) will act as\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/157.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549304,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/12\/the-public-investment-what\/","url_meta":{"origin":617379,"position":2},"title":"The Public Investment what?","author":"enterpriseam admin","date":"12 September 2022","format":false,"excerpt":"AMOC responds to PIF rumors: Alexandria Mineral Oil Company (AMOC) has not received any information on the Saudi sovereign wealth fund\u2019s reported intention to acquire a minority stake in the company, it said in a disclosure (pdf) yesterday in response to reports in the local press. Al Shorouk reported on\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/193.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545594,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/05\/pif-could-invest-in-al-wataniya-siemens-power-plants-adq-could-buy-stakes-in-unlisted-egyptian-firms-soliman\/","url_meta":{"origin":617379,"position":3},"title":"PIF could invest in Al Wataniya, Siemens power plants + ADQ could buy stakes in unlisted Egyptian firms -Soliman","author":"enterpriseam admin","date":"5 April 2022","format":false,"excerpt":"Wataniya + Siemens power plants on the table for Saudi PIF: Saudi Arabia\u2019s sovereign wealth fund could take stakes in military-owned Wataniya Petroleum (a national operator of filling stations) and the three Siemens-built power plants as part of its proposed USD 10 bn investment in Egypt, the head of Egypt\u2019s\u2026","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/125.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":588224,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/07\/ksa-is-doubling-down-on-its-sports-spending-with-investments-in-football-golf\/","url_meta":{"origin":617379,"position":4},"title":"KSA is doubling down on its sports spending with investments in football + golf","author":"enterpriseam admin","date":"7 June 2023","format":false,"excerpt":"The investments are part of the kingdom\u2019s push to diversify its revenue streams beyond oil","rel":"","context":"In &quot;FOR YOUR COMMUTE&quot;","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/364.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548410,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/08\/saudi-wealth-fund-could-acquire-united-bank-this-year-appoints-advisers-on-transaction\/","url_meta":{"origin":617379,"position":5},"title":"Saudi wealth fund could acquire United Bank this year, appoints advisers on transaction","author":"enterpriseam admin","date":"8 August 2022","format":false,"excerpt":"Saudi Arabia\u2019s sovereign wealth fund could purchase United Bank from the Central Bank of Egypt (CBE) before the end of the year, according to Hapi Journal. The Public Investment Fund (PIF) is close to wrapping up due diligence on the bank and the acquisition is expected to be finalized by\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/185.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=617379"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617379\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/617374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617380"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617379"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617379"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}