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AI Chip Startup Groq Secures $1.5 Billion Investment From Saudi Arabia

by THEFUTURE.TEAM

Groq, a U.S.-based AI semiconductor startup, has secured a $1.5 billion commitment from Saudi Arabia to expand its advanced AI chip delivery in the country. The startup, founded by a former Alphabet AI chip engineer, specializes in AI inference chips that optimize speed and execute commands for pre-trained models.

Groq already has a partnership with Aramco Digital, the tech arm of oil giant Aramco, through which they developed a key AI hub in the region in December. The investment will fund the expansion of Groq’s data center in Dammam, with the startup having obtained the necessary licenses to export its chips despite U.S. export controls.

The announcement was made at Saudi Arabia’s LEAP 2025 event, where the country also secured $14.9 billion in AI investments. One of the technologies supported by the Dammam Center is Allam, an AI language model developed by the Saudi government that operates in both Arabic and English.

In August, Groq raised $640 million in a funding round led by Cisco, Samsung, and BlackRock, bringing its valuation to $2.8 billion.

New Platform Makes Cyprus State Budget Data Easier To Track

by THEFUTURE.TEAM

The platform provides ready-made and customized reports, interactive dashboards and visual presentations that track monthly state budget execution by ministry, government department, and revenue and expenditure category. It gives users a clearer view of how public funds are allocated and spent throughout the year.

Users can also access state budget data dating back to 2021, allowing them to compare budgeted and actual figures, analyze variances and identify changes in spending and revenue over time. Data can be filtered by year, month, public body, and spending or revenue category, giving users more flexibility to examine specific areas of the budget.

A Push For Broader Public Understanding

According to Antoniades, the objective is not only to improve access to fiscal information but also to make budget data easier to understand for a wider audience.

“The tool is addressed to the entire society and is not limited to specialists or professionals in the field,” he said.

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