Alat Unveils Electrification and AI Divisions to Drive Global Innovation

Alat Unveils Electrification and AI Divisions to Drive Global Innovation

By Staff Writer, 07 May 2024

Alat, a prominent entity under the Saudi sovereign wealth fund PIF, has unveiled its latest endeavor aimed at revolutionizing global industries while establishing a premier manufacturing hub within the Kingdom of Saudi Arabia.

The company introduced two innovative business divisions, Electrification and AI Infrastructure, during the prestigious Milken Institute Conference held in Los Angeles, where Alat proudly stood as a gold sponsor.

With the addition of these units, Alat now boasts a total of nine business arms dedicated to sustainable technology manufacturing.

As part of its ambitious vision, the PIF-backed enterprise has pledged a staggering $100 billion investment by 2030 across these divisions.

This substantial commitment underscores Alat's determination to forge strategic alliances and cultivate cutting-edge manufacturing capabilities within Saudi Arabia, thereby fostering job creation and economic diversification throughout the Kingdom.

Highlighting the significance of the new business units, Alat emphasized their crucial role in meeting the surging global demand for AI infrastructure and addressing the pressing need to fortify energy grids amid the ongoing transition towards sustainable energy sources.

Electrification emerges as a pivotal objective for Alat, not only in enhancing grid technology to accommodate burgeoning technological advancements but also in facilitating the exponential growth of electricity generation from clean energy sources like solar, wind, and hydrogen, which are vital for powering industrial processes.

Source: Trade Arabia

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