Aramco Ventures currently has $7 billion in assets under management but, depending on opportunity and performance, there is a lot more where that came from.
From Reuters, November 25:
Aramco Ventures, a subsidiary of Saudi national oil major Aramco, is opening an office in Paris to oversee European artificial intelligence investment expected to total hundreds of millions of euros, CEO Mahdi Aladel told Reuters on Tuesday.The growth of data centres used for artificial intelligence has boomed in recent years, with many companies vying for capital and infrastructure to get a leg up on the competition....
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As noted in December 2023:
French OpenAI Rival Mistral Nears $2 Billion Valuation With Andreessen Horowitz Backing
This. This is what we've been pitching for the last five years as the way France picks up the economic torch from Germany.
And November 2024 with a lot of back-links:
"Is French tech facing a lull?"
No time for a lull. Since 2018 we've been pitching French tech as an economic engine to supplant Germany and this would be an awful time to pull up on the reins.
Do whatever it takes, either get the deficit under control (6.1% of GDP? That's American-level depravity but with a currency you don't issue) or do a Frexit and go back to the franc so you can inflate it away, what ever it takes to make the investments now....
