The venture arm of Saudi conglomerate Aramco reportedly invested in start-up Ori, a UK-based AI cloud company already backed by Spain-based operator Telefonica.
Bloomberg reported Wa’ed Ventures, which has a venture capital pot of around $500 million, made an undisclosed investment in Ori which will be used to establish a regional subsidiary in Riyadh.
The move points to increasing investment from Saudi companies into AI as they look to advance the…
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https://www.mobileworldlive.com/ai-cloud/aramco-venture-arm-invests-in-ai-start-up/