Report: PIF in talks with a16z on a $40bn AI investment fund
By Cicada DeskEvent date: 1 min read
Added to the archive: Last verified:
In brief
On 19-20 March 2024 The New York Times reported that the Public Investment Fund (PIF) was in talks with Andreessen Horowitz and possibly other firms on a roughly $40 billion fund to invest in AI, with a16z and PIF Governor Yasir Al-Rumayyan discussing a Riyadh office.
On 19-20 March 2024 The New York Times reported that the Public Investment Fund (PIF) was in talks with Andreessen Horowitz and possibly other firms on a roughly $40 billion fund to invest in AI, with a16z and PIF Governor Yasir Al-Rumayyan discussing a Riyadh office. PIF's assets were cited at about $925 billion.
The report relied on unnamed sources, and no official PIF confirmation of a fund of that structure has been published.
Key figures
- $40bnreported fund size
Sources
This report is compiled from the sources below. Cicada links to every source we rely on.
- 1Saudi Arabia reportedly in talks with VC firms like Andreessen Horowitz to create mammoth $40 billion AI fund CNBC · 20 Mar 2024
- 2Saudi Arabia plans $40bn push into artificial intelligence, NYT reports Arab News Pakistan
Archive report. Written in 2026 from contemporary sources and dated to the day the event happened.
Cite this story
Cicada Desk. "Report: PIF in talks with a16z on a $40bn AI investment fund". Cicada, 20 March 2024. https://cicadaconsultancy.online/en/news/pif-40bn-ai-fund-report-2024
Free to quote and reuse with attribution under CC BY 4.0.
