<ul><li>Saudi Arabia wants overseas tech firms to help with its homegrown AI industry.</li><li>The plan is for firms to invest in AI data centres, startups, and more.</li><li>Dubbed Project Transcendence, it's worth up to $100bn.</li><li>The goal is for Saudi Arabia to become an AI hub on par with other markets.</li><li>The conversation has shifted from where Saudi Arabia will invest, to where companies will invest in Saudi Arabia.</li><li>The country launched a plan to move away from oil.</li><li>It launched a strategy in 2020, before the current AI boom.</li><li>Much like Dubai, Saudi Arabia wants to create its own version of G42 to battle its GCC rivals.</li><li>The Public Investment Fund leading investment charges into top names like Uber and SoftBank's first Visio.</li><li>Saudi Aramco reported a 15.3% YoY decrease in 3Q21 net income.</li></ul>

Saudi Arabia spent years investing in global tech firms. Its domestic AI push hopes they'll return the favor.

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