Aramco Digital, WWT Forge Strategic AI Partnership
In January 2023, the company launched Aramco Digital to drive digital innovation across Saudi Arabia.
Aramco Digital, the digital transformation arm of Saudi Arabia's national petroleum group, has announced a strategic partnership with World Wide Technology (WWT), a US-based technology services provider. This collaboration aims to advance AI infrastructure in Saudi Arabia.[1]
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This partnership marks Aramco Digital's second major AI infrastructure deal this year, following its collaboration with US AI accelerator chip maker Groq, announced at LEAP 2024 in Riyadh in March.
Over the past few years, Saudi Aramco has increased its investment in artificial intelligence (AI), expanding its AI capabilities across various sectors.
In January 2023, the company launched Aramco Digital to drive digital innovation across Saudi Arabia and support the Kingdom's digital economy through partnerships and joint ventures.
In addition, Aramco has committed $1.9 billion to digital technologies over the 2023-2025 period.
Aramco Digital introduced before the METABRAIN, the world's largest industrial large language model, designed primarily for internal use.
Last month, Saudi Aramco's highly anticipated $12 billion share sale witnessed a surge in demand with all shares being snapped up mere hours after the deal opened.
The price of one share ranged between SAR 26.70 ($7.12) and SAR 29 ($7.73).
The offering coincides with OPEC+'s decision to extend production cuts into 2025.
During Aramco's 2019 IPO, global investors mainly balked at valuation estimates, leaving the government reliant on domestic buyers. The $29.4 billion IPO received $106 billion in orders, with international purchasers receiving approximately 23% of the shares.
In May, Saudi Arabia announced that it was planning a multi-billion-dollar share sale in the energy giant Aramco.