Saudi Arabia is making strategic moves to diversify its economy with significant investments in the semiconductor and space industries, which it sees as the 'next trillion-dollar opportunity'. The Saudi wealth fund's plans for this year reflect a broader ambition to reduce the kingdom's reliance on oil revenues. Complementing this initiative, Saudi Aramco, the nation's oil giant, is more than doubling its venture capital funding by allocating an additional $4 billion to its Aramco Ventures unit this year. This capital boost aims to expand the company's global ambitions and tap into new industries.
Saudi Aramco beefs up venture capital arm to diversify from oil "with a $4bn cash injection as part of a wider push " https://t.co/YnYhZJMceG
Saudi Aramco to boost VC fund by $4B https://t.co/7ThzHWseoZ by @katiefehren
Saudi Aramco beefs up venture capital arm to diversify from oil https://t.co/BKxlF0xwEY
Saudi Arabia’s wealth fund is planning to make big investments in both the semiconductor and space industries this year https://t.co/8duT2Rcvo3 via @AbeerAO1 @DNair5 https://t.co/eThV3zuCXE
Aramco boosts venture arm's capital by $4 billion #oott https://t.co/utiNptDYuw
Aramco boosts venture arm's capital by $4 billion https://t.co/xuYlKV2FWv https://t.co/jFTjHMv3YC
Saudi Aramco says it has boosted its #Aramco Ventures unit by $4 billion, more than doubling the oil giant’s overall venture capital funding. https://t.co/h9qNtETFdT
Saudi Aramco will allocate an additional $4 billion to its venture capital unit as the kingdom expands its global ambitions https://t.co/qfb4d8373l
Saudi Arabia sees the space industry as the “next trillion-dollar opportunity” https://t.co/Dmmpk0qSmv
Saudis Eye Big Investment to Kick Off Foray Into Semiconductors https://t.co/rq8uqjo8ea
Saudi Arabia’s wealth fund is planning to make big investments in both the semiconductor and space industries this year as the kingdom accelerates efforts to diversify its economy away from oil https://t.co/U53V7eGhSE via @technology