Saudi Arabia's Public Investment Fund is negotiating the creation of a $40 billion AI investment fund as part of its Vision 2030 initiative.

The initiative aims to reduce the kingdom's economic dependence on oil by fostering growth in emerging sectors, including artificial intelligence.

The Saudi Data and AI Authority is making strides in AI with over 20,000 specialists and aims to train 25,000 women in AI by 2030 to address gender disparity in tech.

Potential investments by the PIF could quadruple Microsoft's contribution to OpenAI, signaling ambitions to make Saudi Arabia a major player in the global AI landscape.

Notable tech giants and venture capital firms are also heavily investing in AI, indicating a broader trend of significant financial commitment to AI development worldwide.