Saudi Arabia Shifts Investment Focus from Neom Megaproject to AI and Technology Sectors
Saudi Arabia is shifting its economic diversification strategy away from the massive Neom megacity project toward substantial investments in artificial intelligence and technology sectors, according to reports. The kingdom reportedly plans to channel billions into AI, gaming and advanced manufacturing as it accelerates its transition from oil dependency.
Saudi Arabia’s Strategic Investment Pivot
Saudi Arabia is reportedly shifting its economic diversification strategy from the ambitious $500 billion Neom megacity project toward substantial investments in artificial intelligence, gaming and high-tech manufacturing, according to people familiar with the matter. The strategic pivot comes as global finance leaders gather in Riyadh for the Future Investment Initiative summit, where the kingdom’s investment priorities appear to be undergoing significant transformation.