The Crown Prince and Prime Minister of Saudi Arabia announced that the Saudi government will invest $900 million in Luma AI, a San Francisco-based firm that builds AI models for the entertainment industry.
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| Prince Mohammed bin Salman & Trump at a recent visit to the White House |
Humain, a Saudi investment vehicle, will be the lead contributor to the Luma AI investment. As part of the deal, Luma will open an office in Riyadh and have full access to Saudi-based data centers, which generate 2 gigawatts of computing power, equivalent to the Hoover Dam's maximum output.
Amit Jain, Luma AI's CEO, stated that "Luma will build AI world models that have many use cases for Hollywood, including the creation of new work, and make our systems available to Hollywood studios." Luma recently opened a training center in Los Angeles that offers AI education to film directors and executives. Saudi Prince Salman indicated that Saudi Arabia wants to become an AI powerhouse, using its access to cheap energy, and become an exporter of computing power.
On his recent visit to the White House, the Prince met not only with the President but also major tech company executives from Nvidia, Oracle, Amazon, Microsoft, and Elon Musk's Grok AI.
According to Amit Jain, "Luma AI is an exceptional U.S.-based global startup pushing the boundaries of AI systems, which will provide foundational breakthroughs into real products."
By: Jim Lavorato
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