This week’s three stories come from Europe and Saudi Arabia
1-Amazon’s $10B UK investment to build cloud and AI infrastructure
Amazon Web Services (AWS), Amazon’s cloud business, announced to invest £8 billion ($10.45 billion) over the next five years to establish and operate data centers in the U.K. This move is part of AWS’s strategy to expand its cloud computing existence in Europe, where it competes with Microsoft and Google.
I saw this story at CNBC and Tanuja Randery, AWS’s managing director for EMEA, noted that British businesses are increasingly adopting cloud and AI technologies, driven by the country’s digital agenda. As AWS is expanding its footprint in the UK., it also faces scrutiny from regulators. The country’s Competition and Markets Authority (CMA) is investigating competition in the cloud market, with a particular focus on AWS and Microsoft. Randery stated that AWS is cooperating with the CMA, underlining the significance of maintaining a balance between regulation and innovation.
2-EU appoints first startup commissioner
Ekaterina Zaharieva has been selected as the EU’s first commissioner for startups, as announced by the bloc’s president, Ursula von der Leyen. Zaharieva previously served as Bulgaria’s deputy prime minister for judicial reform and foreign affairs from 2017 to 2021 and currently a member of the Bulgarian Parliament. Von der Leyen proposed Zaharieva as the commissioner for startups, research, and innovation, emphasizing the need to prioritize research, technology, and innovation in the EU’s economy.
I read this story at The Next Web and Zaharieva’s main tasks to include developing a strategy to improve conditions for EU startups and scaleups, working on a European Innovation Act to simplify regulations and improve access to venture capital, and creating a network of deep-tech investors. She will also be responsible for expanding the European Innovation Council (EIC), European Research Council (ERC), and the University Alliances initiative. In addition, Zaharieva will propose a European Research Area Act to promote the free movement of research and technology, with a focus on green and digital technologies, biotech, life sciences, and advanced materials.(I have a story here about Turkey’s all-electric design approval by the EU)
Her nomination will undergo hearings at the European Parliament before other appointments are confirmed.
3- Saudi Arabia wants to access to Nvidia’s high-performance chips next year
Saudi Arabia is optimistic about securing access to high-performance chips from U.S. chipmaker Nvidia, resulting the country to advance and manage cutting-edge AI models. I saw this story CNBC, Abdulrahman Tariq Habib, a senior official at the Saudi Data and AI Authority, expressed confidence that this development could happen within the next year. Habib’s comments came during Saudi Arabia’s international AI summit held in Riyadh.
Access to Nvidia’s powerful H200 chips, currently restricted by U.S. export controls, would greatly benefit Saudi Arabia by enhancing its computational and AI capabilities, Habib noted. He underlined that the kingdom has already invested heavily in building human and data capacity over the past three years.
Saudi Arabia is investing in heavily on AI, aiming for AI to contribute 12% to its GDP by 2030, as a part of its Vision 2030 plan to modernize the economy and reduce dependency on oil, As a side note, The Public Investment Fund, valued at $925 billion, is expected to lead this push, with potential involvement in a $40 billion AI investment fund in partnership with American venture capital business Andreessen Horowitz.
