Aramco Unveils AI Partnerships and Supercomputer Deployment
Aramco also introduced an AI supercomputer, powered by NVIDIA GPUs.
Aramco announced new initiatives to support digital development during the Global AI Summit at the King Abdulaziz International Conference Center in Riyadh. The company signed memoranda of understanding (MoUs) with Cerebras Systems, FuriosaAI, and Rebellions, focusing on collaboration in supercomputing, AI, and improving digital infrastructure with Neural Processing Unit chips. An MoU with SambaNova Systems was also signed to explore enhancing AI capabilities across the Kingdom.[1]
Aramco also introduced an AI supercomputer, powered by NVIDIA GPUs, to assist with analyzing drilling plans and identifying low-carbon options. The company is working with Qualcomm Technologies to implement generative AI solutions for facility monitoring, predictive maintenance, and autonomous drone operations.
These initiatives are part of Aramco's wider digital strategy, which includes the Saudi Accelerated Innovation Lab (SAIL), the Global AI Corridor, and the development of a large language model for industrial AI applications. The Eye on AI Program was also launched to strengthen AI cybersecurity governance and skills.
The artificial intelligence (AI) is expected to contribute 12% to Saudi Arabia’s gross domestic product (GDP) by 2030, Saudi Authority for Data and Artificial Intelligence (SDAIA) said in its latest '𝗦𝘁𝗮𝘁𝗲 𝗼𝗳 𝗔𝗜 𝗶𝗻 𝗦𝗮𝘂𝗱𝗶 𝗔𝗿𝗮𝗯𝗶𝗮' report in advance of this week's Global AI Summit.
In June, 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.