Saudi Arabia increases its ambition in the semiconductor in the middle of design and a billion

Saudi Arabia has launched a billion Riyals fund and announced a national center specializing in the semiconductor sector as part of its efforts to establish 50 companies to design slides that are increasingly demanded worldwide in light of the boom of artificial intelligence. The general supervisor of the Saudi Research, Development and Innovation Development Authority, Mohammed Bin Wawaid Al -otaibi, said that the center will be specialized in the design of semiconductors and the provision of high quality jobs, during the participation today, to the “future of the semiconductor 2024”. In turn, the CEO of “Rapid Silicon” Navid Sherwani explained that the National Center for Mosques Focus on the creation of an integrated operating environment for businesses designed for semiconductors, suggesting that it will create an extra value for the Saudi economy within 5 to 6 years. Sherwani, who will take over the presidency of the new center, added that the target is the establishment of 50 companies specializing in this area in the kingdom, and “We already have three companies that joined the initiative, and 10 have requested to join.” He continued: “We have provided spaces for businesses, and we offer about ten stimuli to anyone who wants to start his business. We also created a company called ‘APIC Semi’ to provide all services and technology and all the new businesses. Vision, advice and guidance. to value $ 40 billion to invest in artificial intelligence. Sherwani said in an interview with Bloomberg today that “the focus will be on simple chips”, instead of advanced and sensitive technologies. Reveal that manufacturing will occur outside the kingdom for at least the medium term. He emphasized that the center does not strive to be an alternative to companies such as “invitation” or “Intel”; On the contrary, “We look forward to a modest but solid start, and as soon as we build the base, we can talk.” Ahmed Al -fifi, director of the Saudi divisional program, said in an interview with “Al -Sharq” that the purpose of the initiative to establish the center is to unite research, development and innovation efforts that are used separately in centers attached to local universities and to move it to the manufacturing phase. He pointed out that the design part represents 50% of the value chain in the semiconductor industry, so the focus will be mainly on attracting electronic slides design companies. He added that the government’s provision of financial incentives for local companies working on the design of electronic chips will support them in a way that enables them to compete parallel, parallel to attracting international businesses.