Wa’ed Ventures Invests in Ori to Establish an AI Company in Saudi Arabia
- Wa’ed Ventures Invests in Ori to Establish a Regional Subsidiary in Riyadh, Supporting Talent Development and AI Technologies
- The British company Ori provides cloud infrastructure solutions for artificial intelligence and is one of the first companies to adopt Nvidia H200 chips.
- Wa’ed Ventures has allocated $100 million for investment in AI and has previously supported companies like Rebellions Inc and aiXplain.
Wa’ed Ventures, the investment arm of Saudi Aramco, announced its investment in the British company Ori, which specializes in cloud infrastructure dedicated to artificial intelligence, with support from the Spanish telecommunications giant Telefonica SA. The investment amount has not been disclosed.
Under this agreement, Ori will establish a regional subsidiary in Riyadh to support the development of local talent and enhance cloud and AI technologies in the Saudi market, aligning with the Kingdom’s digital transformation goals and Saudi Vision 2030.
Wa’ed Ventures’ Increasing Investments in AI
This investment is part of Wa’ed Ventures’ expansion into the AI sector, as the company has intensified its efforts over the past year to support the Kingdom’s plans to build an advanced AI infrastructure and data centers.
The company had previously allocated $100 million to invest in AI-focused startups, including the South Korean chip manufacturer Rebellions Inc and the U.S.-based AI platform aiXplain.
Ori: A Leading British Company in Cloud Infrastructure
Founded in 2019, Ori specializes in providing cloud infrastructure solutions that support AI applications and serves a range of major global companies.
According to the press release, Ori is one of the first British companies to utilize Nvidia H200 chips, representing a breakthrough in AI computing technologies.
$176 Million Funding Round
Ori recently closed a funding round worth £140 million (approximately $176 million), with participation from several major companies, most notably:
- Spain’s Telefonica SA
- U.S.-based NextEra Energy Inc.
The company indicated that it plans to complete a larger funding round during 2025, further strengthening its position as a leading company in the AI infrastructure sector.
