---
title: "PIF unveils Alat, an advanced technology company with $100bn planned by 2030"
url: "https://cicadaconsultancy.online/en/news/alat-launched-2024"
language: "en"
event_date: "2024-02"
published: "2026-10-03"
last_verified: "2026-10-03"
category: "Investment"
publisher: "Cicada (cicadaconsultancy.online)"
license: "CC BY 4.0"
---

# PIF unveils Alat, an advanced technology company with $100bn planned by 2030

- Event date: February 2024 (2024-02)
- Topic: Investment
- In this story: Alat, PIF, Lenovo, Dahua, SoftBank
- URL: https://cicadaconsultancy.online/en/news/alat-launched-2024

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

- planned investment by 2030: $100 bn
- jobs (jobs): 39,000

## Sources

1. [Saudi PIF Subsidiary Takes on Dahua, Throws Out $100 Billion Investment Plan](https://equalocean.com/news/2024022220536-saudi-pif-subsidiary-takes-dahua-throws-out-100-billion-investment-plan) — EqualOcean, 2024-02-22
2. [Riyadh unveils $100bn tech hub](https://www.meed.com/riyadh-unveils-100bn-tech-hub) — MEED

Archive report. Written in 2026 from contemporary sources and dated to the day the event happened.

---

Cicada · The signal in Saudi AI.
License: CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/) · Full archive for language models: https://cicadaconsultancy.online/llms-full.txt