Alphabet To Build Technology Hub
Google parent comoany Alphabet Inc is in talks with Saudi Aramcoabout to jointly build a technology hub in Saudi Arabia, as per the report by the Wall Street Journal.
The details of the deal, who will own tje data and control them is not yet clear. The joint venture could help Saudi Aramco expand into the United States, a goal for the oil company.
Rivals of Alphabetsuch as Apple Inc and Amazon Incare are in licensing discussions with Riyadh for investing in Saudi Arabia to give kingdom a high-tech look.
Whether Aramco would list its shares ahead of an IPO or not is not clear yet.