NEOM Tech & Digital, a subsidiary of the $500 billion signature NEOM project of the Saudi crown prince, has invested $1 billion in 2022 in AI, including a metaverse platform, its chief executive said on Tuesday, according to a Reuters report.
Joseph Bradley, who is CEO of the NEOM project, said the company is also changing its name to Tonomus “as NEOM works to integrate AI techs in the building of its flagship project The Line, a zero-carbon city with robots, holograms and mirrored facades stretching over 170 kilometres (150 miles) and running on 100% renewable energy.”
NEOM is part of the kingdom’s Vision 2030 national development plan into which Prince Mohammed has poured hundreds of billions of dollars.
According to Reuters, Bradley said Tomonus has invested $1 billion in 2022 alone in the metaverse and other AI applications, another billion in the connectivity network and is investing an additional $1.2 billion in venture and entrepreneurship. Tonomus is working with Oracle and OneWeb.
