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Saudi Arabia owns more than half of Lucid Motors

The Verge

Coates argues he’s eligible for these benefits because the Saudi Arabia investment triggered a “Change in Control” clause in his agreement with Lucid Motors because it resulted in “a change in the majority shareholder of the Company,” according to an email from his lawyer to the startup sent last year. The company declined to comment.

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Saudi Arabia and UAE invest in thousands of Nvidia chips, aiming to become global AI powerhouses

TechSpot

The Financial Times reports that Saudi Arabia has bought at least 3,000 Nvidia H100 GPUs, which Nvidia CEO Jensen Huang calls the first chip designed for generative AI. With its 14,592 CUDA cores, 80GB of HBM3 capacity, and 5,120-bit memory bus, it's priced at a massive $40,000. Read Entire Article

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5 takeaways on trust in NGOs to manage new innovations and technologies 

Candid

For 20 years, the global communications firm Edelman has studied the influence of trust across government, media, business, and nongovernmental organizations (NGOs). Here are five takeaways about global trends in the public’s trust in NGOs: 1. In China, however, the level of trust in NGOs fell significantly from the previous year.

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Egypt’s SideUp raises $1.2M to grow its e-commerce support platform

TechCrunch

The startup has also expanded to Saudi Arabia, where it will be headquartered henceforth, after raising $1.2 This latest round had the participation of Launch Africa VC, 500 Global, Riyadh Angels, Alex Angels, Al Tuwaijri Fund and Saudi angel investor Faisal AlAbdulsalam. million seed funding. seed funding.

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The Lucid Air is a luxury electric sedan with the speed and power to rival Tesla

The Verge

What it means is that the Air was designed by people who claim to have intimate knowledge of Tesla’s path to global EV domination. Unlike other so-called “Tesla killers,” though, Lucid Motors has wealthy backers and global reach to successfully challenge Musk. And it will benefit Saudi society.”. It’s a strategic partnership.

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Lucid is raising prices on its luxury Air EV by as much as 13%

TechCrunch

The company announced Thursday alongside its first-quarter earnings report that it was raising prices of the variants of its luxury Air sedan, beginning June 1. “Similar to many companies in our industry, we continue to face global supply chain and logistics challenges, including Covid-related factory shutdowns in China.

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Saudi sovereign fund reportedly mulls investment in Chinese EV startup

TechNode

Chinese electric vehicle maker Human Horizons is reportedly in discussions with the Public Investment Fund, Saudi Arabias sovereign wealth fund, to secure at least $250 million at a valuation of $3 billion, according to Bloomberg sources. billion with the six-year-old automaker. billion with the six-year-old automaker. Bloomberg ]