Saudi Arabia has announced a significant investment of $100 billion in artificial intelligence (AI) and semiconductor development, aspiring to become a leader in the tech industry.

This move aims to strengthen its position and potentially outshine the UAE, which has been a prominent tech hub in the region. The investment forms part of Saudi Arabia's broader strategy to diversify its economy and reduce reliance on oil revenues.

By allocating resources towards cutting-edge technologies, the nation hopes to attract global talent and businesses, ultimately boosting its economic growth and transforming its digital infrastructure.