Rackspace Technology, a cloud computing company, has agreed to collaborate with Saudi Data and AI Authority (SDAIA) as the Kingdom of Saudi Arabia modernizes its technological foundation in an effort to diversify its economy beyond the oil industry.
Rackspace Technology said it had signed a memorandum of understanding with the governmental agency Saudi Data and AI Authority (SDAIA) to work together on strategic technology initiatives as part of the Saudi Arabian government’s Vision 2030 economic plan.
According to Amar Maletira, CEO of Rackspace Technology, being a part of this shift and witnessing a country realize its vision by utilizing the cloud and data is truly motivating.
“We are honored to support SDAIA with this ambitious transformation project and contribute to achieving the strategic objectives of the Kingdom of Saudi Arabia’s Vision 2030” said Maletira.
Maletira, who took over as CEO of Rackspace in September, is now leading the company to the top of the list of American businesses investing in Crown Prince Mohammed bin Salman’s Vision 2030 initiative for Saudi Arabia.
Rackspace said the agreement was signed by Maletira and Waleed Alghamdi, assistant director general for digital technologies at National Information Center-SDAIA, at the Riyadh Front Expo Centre in Saudi Arabia. However, no terms were disclosed yet and Rackspace declined to discuss details.
Alghamdi stated that the goal of SDAIA is to make the Kingdom a global center for the application of artificial intelligence and the best data. Therefore, it is imperative to have a top-tier technology partner who can not only operate as a trusted advisor but also offer hands-on assistance throughout the entire digital transformation process.
“We believe that Rackspace Technology, with its strong cloud heritage, deep expertise and extensive partner relationships is the right partner to support us in making Vision 2030 a reality,” said Alghamdi.
Saudi Arabia, which is aiming to diversify its economy away from oil, has garnered more than $9 billion in investments in new cloud technology; Microsoft will invest $2.1 billion and another $1.5 billion from Oracle Corporation.
Furthermore, in order for foreign businesses to take advantage of government contracts, Saudi officials have pushed them to invest in the country and relocate their regional offices to Riyadh.
