According to Bloomberg agency information, sources familiar with the situation said that the Saudi Public Investment Fund (PIF) is conducting negotiations about possible investments in international chip manufacturers. The large fund is considering options for investing in companies engaged in the production of semiconductors to stimulate technological development within the frameworks of the 'Vision 2030' program.
According to this source, PIF is in dialogue with several key companies in this field; however, a final decision on possible investments has not yet been made. At the same time, the fund is assessing the potential risks and opportunities of such investments, as well as analyzing the impact of these investments on its portfolio.
One example of PIF's investments in the technology sector is the acquisition of a stake in the American corporation Tesla Inc. in 2018. According to this Bloomberg source, the fund's new investments could promote talent attraction and technology in Saudi Arabia, which supports the country's development strategy aimed at reducing dependence on oil revenues.
