Saudi Arabia's $100 Billion AI Fund Says US Is No. 1 'Partner'

As you know, in the world of geopolitics right now, there’s a lot of mistrust between nations, particularly when it comes to technology. Yeah, particularly semiconductors or anything that could be leveraged for both commercial use and maybe military use. How do you navigate that? Are you creating products that are going to be compliant with U.S. sanctions, compliant with wherever the tea leaves are blowing between the US, Europe, China, whatever, in terms of protecting their own intellectual property? Listen, Saudi Arabia has a tremendous reputation of being dependable, being trusted partner of. Supplying the energy for decades and decades it has been we would like to hope to achieve the same sort of status in our semiconductor near side as well. US is the number one market, US is the number one partner and we hope we can partner more deeply and trusted and secure is a keyword for us. You know at component level, trusted nature of it, at the country level, trusted nature of it and secure supply chain end to end. So think about electrification, it’s a great built up. It’s it’s a every day we are falling 12% behind where the grid investment needs to be. It’s $177 trillion of investment That just requires an energy transition. To do that, you have to start from the copper, you have to start from copper, aluminum, submarine, cable, solar panels and then of course transformer, inverters, grid technologies and then you basically can move to power. The AI industries of the future. We can be meaningful builder and supporter for US. Captaincy of building. Infrastructure which involves energy and everything in between, is that going to be cost effective? There’s been a lot of discussion about doing this out of a country like Saudi Arabia as opposed to maybe another country that has slightly lower labor costs and manufacturing costs. Listen, in last four or five years what we have learned is supply chain has to be re architected, reimagined to serve the resilience part, not just the most efficiency part. So for us what we want to do is not lose the efficiency, bring automation. Lower cost of capital, lower cost of energy to bring efficiency higher but also be trusted and secure, that is very important to us.