Saudi Aramco, a Saudi Arabian public petroleum and natural gas company, has announced its partnership with Zoom Global to build its first global data center in Saudi Arabia as a part of the Kingdom’s initiatives to support the ecosystem of digital transformation.
The Saudi Press Agency (SPA) reported that Aramco and Zoom will explore the development of cutting-edge technology solutions for the energy sector as part of their new strategic partnership, which will also aid in the digital transformation of various market sectors, including energy, business, education, and healthcare.
According to Amin H. Nasser, Aramco President and CEO, their ability to retain a reputation for dependability has been aided by the creation of a diverse network of partners, and their new strategic partnership with Zoom is anticipated to further enable creative solutions centered on the digital transformation ecosystem.
The announcement was made at the second edition of LEAP, a significant international technology conference that is conducted yearly in the Kingdom. according to SPA.
Aramco also disclosed at LEAP that Wa’ed Ventures would receive more funding, bringing the total amount invested in the Kingdom-focused startup capital arm to $500 million.
The additional funding is intended to assist the company in delivering a faster investment performance both locally and internationally, SPA reported.
Wa’ed Ventures aspires to localize cutting-edge technology to strengthen the Kingdom’s innovation ecosystem, increase investments in mid-stage and growth-stage firms, and finance underrepresented domains including the metaverse, quantum computing, and the social, environmental, and political spheres.
“With an expanded fund size, Wa’ed Ventures aims to facilitate the cross-pollination of innovation between the global and local markets,” Nasser said at the conference.
