Jul 23, 02:04 AM

Aramco's $500M Wa'ed Ventures Invests $15M (20 bln-won) in South Korean AI Chipmaker Rebellions

Saudi Aramco's venture capital arm, Wa'ed Ventures, has made its first investment in South Korea by investing $15 million in AI chipmaker Rebellions. This collaboration aims to accelerate the AI industry in Saudi Arabia. Rebellions is also working with Samsung to develop AI chips. The investment marks a significant step for Wa'ed Ventures, a $500M fund, as it seeks to expand its portfolio in the tech sector. The investment amounts to 20 bln-won.

#Saudi Aramco #South Korea #Rebellions #Saudi Arabia #Samsung

Written with ChatGPT (GPT-4o).