Saudi Wealth Firm, Andreessen Eye Up to $40 Billion for AI Fund
- PIF aims to run the fund initially, may seek other investors
- UAE also pushing AI investment in sign of regional competition
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Saudi Arabia’s Public Investment Fund is in early talks to partner with venture capital giant Andreessen Horowitz on a fund, which may grow to as large as $40 billion in commitments, to target artificial intelligence investments, according to people familiar with the matter.
The PIF aims to initially run the new fund and will be among investors contributing to it, the people said, asking not to be identified discussing private information. Participants may only be asked to put in cash after specific deals are identified, the people said.