Kuwait City: NEOM Investment Fund (NIF) announced on Monday a strategic partnership with American company MemryX to accelerate development of next-generation, energy-efficient Edge Artificial Intelligence (AI) accelerators.
According to Kuwait News Agency, NIF CEO Majid Mufti stated that NEOM's investment in MemryX marks a pivotal step in achieving NEOM's vision toward building a future based on AI and energy efficiency. He emphasized that this investment reflects the Fund's commitment to supporting advanced technologies that will shape the future digital infrastructure.
MemryX CEO Keith Kressin, in a similar statement, noted that the investment aligns with their company's vision for the future, expressing hope to accelerate the deployment of high-end AI technologies.
The partnership is part of NEOM's growing investment portfolio, reinforcing its position as a strategic investor and key developer for AI innovation.