BlackRock Aims to Triple Saudi Investments Amid AI Market Boom
BlackRock shares (BLK) rallied as the asset management giant announced plans to potentially triple its investments in Saudi Arabia, targeting sectors like artificial intelligence and infrastructure. The firm currently holds over $35 billion in Saudi assets across equities, fixed income, and infrastructure projects.
Saudi Arabia's AI market, valued at $6.76 billion in 2024, is projected to grow at a 43.1% CAGR through 2030. BlackRock's expansion aligns with Vision 2030 projects, including new airports and data centers, as institutional capital floods into AI solutions across finance, healthcare, and manufacturing.