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Abdullah Alswaha, Saudi Minister of Communications and Information Technology, explained in an interview at the World Economic Forum in Davos that the PIF is looking at making a “sizable investment” into the semiconductor industry, “They plan to make an announcement on a particular champion within the space to lead the Saudi efforts,” he said, demurring on giving additional details.
The fund will also look to create a national space company
Alswaha, also chairman of the Kingdom’s Space Agency, did day that the fund will also look to create a national space company to invest and acquire assets in that sector. The space industry is “ripe right now” for M&A, he observed.
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