LOC17:23
14:23 GMT
JEDDAH, May 5 (KUNA) -- NEOM Investment Fund (NIF) announced on Monday a strategic partnership with American company MemryX to accelerate development of next-generation, energy-efficient Edge Artificial Intelligence (AI) accelerators.
NIF CEO Majid Mufti said in a statement to Saudi Press Agency (SAP) that NEOM's investment in MemryX marks a pivotal step in achieving NEOM's vision toward building a future based on AI and energy efficiency.
He added that this investment reflects the Fund's commitment to supporting advanced technologies that will shape the future digital infrastructure.
For his part, MemryX CEO Keith Kressin said in a similar statement that the investment corresponds to their company's vision for the future, and expresses his hope to accelerate deployment of high-end AI technologies.
The partnership is part of NEOM's growing investment portfolio, reinforcing its position as a strategic investor and key developer for AI innovation. (end)
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