Xiaomi plans to invest between CNY7 billion and CNY8 billion (approximately USD964 million to USD1.1 billion), representing about a quarter of its total research and development budget, into artificial intelligence (AI), as stated by President Lu Weibing. The company aims to focus on AI, operating systems, and chips as its core technologies moving forward. In a separate development, Saudi Arabia announced a $40 billion fund dedicated to supporting AI startups, chip manufacturers, and data centers, with the goal of establishing itself as a global hub for AI innovation. Additionally, Oracle has committed to a $5 billion investment in the UK over the next five years to expand its cloud services and enhance AI adoption, aligning with the UK government's vision of positioning the country as a leader in AI technology. This investment coincides with a broader trend, as major technology companies are expected to increase their spending on AI by 44%, bringing their annual investment to approximately $500 billion.