Around 3,000 locals already attend Gamers8, an 8-week eSports festival in Riyadh, with a tournament prize pool of $45 million.
As part of the agreement, the Riyadh venture capital firm will also have the option to increase its investment in the future.
The spending is part of King Abdullah University of Science and Technology’s strategy to promote economic diversification and create new technical jobs.
The new program will contribute to the Kingdom’s Green Initiative.
Around 73% of gamers use smartphones in the Kingdom to play online, according to a YouGov survey.
As operational expenses for AI soar, the race is on to purchase as many high-performance Nvidia chips as possible.
The event will take place at the Fairmont Riyadh on September 13-14 and bring together IT and telecom leaders, digital pioneers, and industry thought leaders.
The adoption of a standard charging port for all electronic devices will offer significant convenience, efficiency, and sustainability advantages.
The B2B restaurant supply chain innovator has launched a new FinTech platform and plans to turn over $1 billion over the next 12 months.
The FoodTech startup will use the capital to enter new markets across the MENA region and, eventually, Pakistan and Sub-Saharan Africa.
