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Aramco’s VC arm invests in AI cloud startup Ori
Saudi Aramco’s venture capital arm, Wa’ed Ventures, has invested in the UK-based AI cloud startup Ori.
This investment is part of Saudi Arabia’s efforts to position itself as a regional hub for AI.
Wa’ed Ventures manages a US$500 million fund and focuses on investing in AI companies.
As part of the investment, Ori plans to establish a subsidiary in Riyadh to enhance AI technologies and develop local talent.
Founded in 2019, Ori specializes in cloud infrastructure designed for AI applications and collaborates with large corporations.
The company was one of the first in the UK to use Nvidia’s H200 chips.
Recent Saudi Aramco developments
| Timeline |
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07-Jan-2025 💰 Aramco’s VC arm joins $30m series A for Saudi tech startup
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17-Dec-2024 🚀 Chinese AI startup Zhipu raises $412m in funding
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28-Oct-2024 🤖 Aramco’s VC arm commits $100m to AI startups
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12-May-2021 💰 SoftBank records $45.8b annual profit after Coupang IPO
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