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Saudi Aramco and Alphabet/Google may cooperate on a "technology hub" within Saudi Arabia, or at least build some data centers:
Saudi Aramco, the world's largest energy company, and Google parent Alphabet have entered discussions to create a technology hub in Saudi Arabia, the Wall Street Journal reports.
The kingdom is embarking upon an ambitious plan, led by the 32-year-old Crown Prince Mohammed bin Salman, to diversify the nation's oil-dependent economy. The foundation of the effort is a plan to create a huge sovereign wealth fund, underwritten by selling shares in the state-owned Aramco.
The initial public offering, which could happen this year, is expected to be the world's biggest-ever share sale. Aramco President and CEO Amin Nasser recently told CNBC his company is ready for the IPO this year, but is waiting on the government to choose an international list venue.
Alphabet and Aramco have discussed forming a joint venture that would build data centers around the kingdom, sources familiar with the matter tell the Journal. It remains to be seen which customers the data centers would serve and how large the joint venture would be, but it could be listed in the Saudi stock exchange, the sources said.
Data centers are just a "tangible" area of cooperation, not necessarily the entire purpose of the joint venture. Saudi Arabia has talked about building a $500+ billion "megacity" that would be technology-focused.
Meanwhile, slightly-less-of-a-billionaire Prince Alwaleed bin Talal has been put back to work:
Saudi Arabian billionaire Prince Alwaleed bin Talal is back on the job as chairman of global investment firm Kingdom Holding after being released from detention in an anti-corruption campaign, the company said on Thursday.
Prince Alwaleed, one of the country's top international investors, was freed on Saturday, nearly three months after being taken into custody along with dozens of senior officials and businessmen on the orders of Crown Prince Mohammed bin Salman. Most detainees have been released, after settlements secured just over $100 billion from members of the elite, the attorney general has said, without providing details.
Also at the Financial Times.
Related: Saudi Arabia to Lift Ban on Online VoIP and Video Calling Services
Saudi Prince Predicts Demise for Bitcoin
Robot Granted "Citizenship" in Saudi Arabia, Sparking Backlash
Saudi Arabia Announced Plans to Extract Uranium for Domestic Nuclear Power Program
Saudi Arabia Arrests 11 Princes and Many Ministers for Alleged Corruption
(Score: 2) by Snotnose on Sunday February 04 2018, @01:38AM (5 children)
Been watching hacker culture for 30 years now. Lessee. Casual towards drug use. Casual to sexual orientation. Rabidly against government.
Yeah, I see a huge win where the average person doesn't want to wear a burka, likes to drive, doesn't care who's crotch you enjoy, and can criticize the government by driving without a burka.
In other words, not just no, but god I sincerely hope not NO.
When the dust settled America realized it was saved by a porn star.
(Score: 3, Informative) by takyon on Sunday February 04 2018, @02:13AM (2 children)
https://soylentnews.org/article.pl?sid=17/10/24/2132243 [soylentnews.org]
https://www.bloomberg.com/news/articles/2017-10-24/saudi-arabia-to-build-new-mega-city-on-country-s-north-coast [bloomberg.com]
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 0) by Anonymous Coward on Sunday February 04 2018, @12:29PM (1 child)
Like free speech zones?
(Score: 2) by takyon on Sunday February 04 2018, @12:33PM
You're right to be skeptical, sure. But the bar is very low for Saudi Arabia to improve on their current system. We should at least see what happens. What happens might be that the city of tech jobs and no mandatory headscarves gets suicide bombed out of existence.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 3, Insightful) by frojack on Sunday February 04 2018, @02:59AM (1 child)
And the megacity?
Not likely. These people can't even feed themselves. Almost everything they eat is imported. The first hint of an uprising and the megacity as well as the data centers are toast. Not enough food for that many people living in that kind of place.
And the Saudis can't fight. They wave swords in the air, but that's the extent of their efforts. When they can no longer export their insurgency it is going to come home to roost.
Once the wells start sucking air, that place collapses like a house of cards.
Why would any part of Google want to be there? Bribes?
No, you are mistaken. I've always had this sig.
(Score: 3, Funny) by c0lo on Sunday February 04 2018, @09:10AM
It is not the food that's the most restricted element of survival, it is water and caffeine.
Everybody knows true hackers can survive for ages on ramen noodles (which requires water) but will suffer a slow painful intellectual death without coffee or caffeinated energy drinks.
Control the supply of these and you'll control the geek hordes.
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford