Saudi Arabia announced the establishment of the National Semiconductor Hub; aims to attract over SR1 billion investment capital and funds

Saudi Arabia has announced the creation of the National Semiconductor Hub to draw in over SR1 billion ($266.6 million) in investment capital and money for deep technology, . This is a component of the endeavour to create 50 firms that would build chips, which are in great demand due to the development of artificial intelligence. 

During the Future of the Semiconductor Forum 2024 inaugural session on Wednesday in Riyadh, the National Semiconductor Hub was officially established. The hub's objectives are to assist fifty specialised enterprises in semiconductor and electronic chip design technologies and to encourage local electronic chip creation.

Saudi Arabia hopes to bring in 25 foreign semiconductor specialists through the National Semiconductor Hub programme, who will offer insight, counsel, and direction. Dr. Naveed Sherwani, CEO of Rapid Silicon, who will lead the new hub, says the Kingdom is striving to be a gathering place for global markets, and that its strategic position is its most valuable asset in the semiconductor area. The national hub for semiconductor production is the Alalat firm, which was established in February 2024 by Saudi Crown Prince and Prime Minister Mohammed bin Salman. 

Under the theme "Empowering Silicon Innovations," the two-day event was arranged by the King Abdulaziz City for Science and Technology (KACST) in collaboration with the King Abdullah University of Science and Technology (KAUST).

Dr. Abdullah Al-Swaha, Minister of Communications and Information Technology and Chairman of the KACST Board of Directors, Dr. Enas Al-Issa, President of Princess Nourah Bint Abdul Rahman University, Dr. Abdullah Al-Ghamdi, President of the Saudi Authority for Data and Artificial Intelligence, and Eng. Khalid Al-Falih, Minister of Investment, attended the opening session. A select group of semiconductor professionals and specialists, as well as a number of authorities and decision-makers, attended the event.

The forum's main goal is to provide an integrated operating environment that will support semiconductor design businesses and create high-caliber jobs. During the event, a number of innovative plans were unveiled with the aim of elevating the Kingdom's reputation in the world of semiconductors, advancing the digital economy, nurturing local talent in this vital sector, and bringing about revolutionary changes in the Middle East.