PIF unveils Alat, an advanced technology company with $100bn planned by 2030
By Cicada DeskEvent date: 1 min read
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In brief
In February 2024 Crown Prince Mohammed bin Salman announced Alat, a new company of the Public Investment Fund (PIF) intended to build the Kingdom's electronics and advanced-industry base, with $100 billion of planned investment by 2030 and 39,000 jobs targeted.
In February 2024 Crown Prince Mohammed bin Salman announced Alat, a new company of the Public Investment Fund (PIF) intended to build the Kingdom's electronics and advanced-industry base, with $100 billion of planned investment by 2030 and 39,000 jobs targeted. Alat targets seven areas, including semiconductors, smart devices, smart health and next-generation infrastructure.
Early partnerships included a joint venture with Dahua (about $200 million), a SoftBank robotics facility ($150 million) and a partnership with Carrier. Alat later signed a $2 billion advanced-manufacturing deal with Lenovo at LEAP 2025.
Key figures
- $100bnplanned investment by 2030
- 39,000jobs (jobs)
Sources
This report is compiled from the sources below. Cicada links to every source we rely on.
- 1Saudi PIF Subsidiary Takes on Dahua, Throws Out $100 Billion Investment Plan EqualOcean · 22 Feb 2024
- 2Riyadh unveils $100bn tech hub MEED
Archive report. Written in 2026 from contemporary sources and dated to the day the event happened.
Cite this story
Cicada Desk. "PIF unveils Alat, an advanced technology company with $100bn planned by 2030". Cicada, February 2024. https://cicadaconsultancy.online/en/news/alat-launched-2024
Free to quote and reuse with attribution under CC BY 4.0.
