Saudi arabia Ai fund Would Divest From China if U.s. Asked, Ceo Says

Marion Halftermeyer and Mackenzie Hawkins / Bloomberg, Time
Tue, 05/07/2024 - 5:43pm

The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence technology said the country would divest from China if it were asked to do so by the US. “So far the requests have been to keep manufacturing and supply chains completely separate, but if the partnerships with China would become a problem for the US, we will divest,” said Amit Midha, the chief executive officer of Alat, an investment firm backed by $100 billion in capital from the Public Investment Fund. [time-brightcove not-tgx=”true”] US officials have told their Saudi Arabian counterparts that they need to choose between Chinese and American technology as they aim to build out the Saudi Arabian semiconductor industry, Bloomberg has reported, as part of ongoing talks on a range of national security issues.

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