NEOM Investment Fund (NIF) has signed a strategic partnership with MemryX, a US-based leader in Edge AI semiconductor solutions, according to the Saudi Press Agency.
The partnership will accelerate the deployment and expansion of next-generation, energy-efficient edge AI accelerators.
“Our investment in MemryX marks another pivotal step toward realizing NEOM’s vision of an AI-native, energy-efficient future. It also reflects our commitment to backing transformative, next-generation technologies that will define the new era of intelligent digital infrastructure,” NIF CEO Majid Mufti said.
Through this deal, the new technology will strengthen the responsive, high-privacy intelligent digital infrastructure powering NEOM.
“NEOM represents one of the boldest technological visions of our time. This partnership with NIF validates our technology’s relevance to future cities and autonomous digital environments,” CEO of MemryX Keith Kressin said.
“We look forward to working closely with NIF and NEOM to deploy Edge AI solutions that deliver real-world performance at scale,” Kressin added.
Meanwhile, the Head of Infrastructure Strategy at NEOM’s Tech and Digital Sector, Peter Watson, noted that MemryX’s breakthrough approach to Edge AI will offer NEOM an extraordinary opportunity to process vast volumes of video data locally.
Therefore, this will reduce NEOM’s dependency on centralized infrastructure and limited bandwidth.
As part of NIF’s expanding portfolio of investments, the partnership highlights NEOM’s pivotal role as a strategic investor and ecosystem developer.
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