The Kingdom of Saudi Arabia and Rezolve AI Ink Pioneering MOU to Establish Global AI Market Leaders
- Establishment of an AI Centre of Excellence in Saudi Arabia
- Creation of Global Market Leaders
(Please Note on December 17, 2021, Rezolve AI entered into a definitive Business Combination Agreement (as amended and restated on June 16, 2023, the "Business Combination Agreement") with Armada Acquisition Corp. I (NASDAQ:AACI), a publicly traded special purpose acquisition company, which is expected to close in H1 2024, subject to approval by Armada's shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions. Upon closing of the transaction, the combined company's shares are expected to trade on the Nasdaq under the ticker symbol "ZONE".)
LONDON, March 18, 2024 (GLOBE NEWSWIRE) -- In a strategic move that highlights the Kingdom of Saudi Arabia's commitment to technological advancement and economic growth, the Ministry of Investment of Saudi Arabia (MISA) has forged a groundbreaking partnership with Rezolve AI Limited. This collaboration is set to revolutionize the artificial intelligence (AI) landscape, establishing an AI Centre of Excellence in Saudi Arabia as a cornerstone of Vision 2030's innovation and development goals.
Key Highlights of the Partnership:
• Establishment of an AI Centre of Excellence in Saudi Arabia: To serve as a hub for innovation, leveraging Rezolve AI's unique technology to navigate and solve the industry's pressing challenge of AI hallucinations, ensuring the creation of reliable and ethical AI solutions.
• Creation of Global Market Leaders: In partnership with the Ministry of Investment, the goal is to launch at least five AI ventures in diverse market sectors, funded and headquartered locally, each aspiring to become global market leaders. These ventures will leverage Rezolve's cutting-edge AI Large Language Model (brainpowa) to foster innovation and ensure global leadership without succumbing to AI hallucinations.
The initiative is integral to Saudi Arabia's strategic vision, positioning the Kingdom not just as a leader in AI technology but also as the foundation for global AI-driven companies. This underscores Saudi Arabia's role as a nucleus for technological innovation and economic diversification.
The Ministry of Investment will facilitate the participation of leading public and private financial and corporate institutions to anchor and support Rezolve's upcoming listing on NASDAQ. This demonstrates KSA's commitment to being open for business and welcoming the next generation of global leaders, encouraging them to base their operations and Headquarters in the Kingdom.
At the signing ceremony in Riyadh last week, Saleh Al-Khabti, Deputy Minister of Investment Transactions for the KSA, and Dan Wagner, CEO and Chairman of Rezolve AI Limited, underscored the transformative potential of this partnership. It marks a significant milestone in Saudi Arabia's journey toward becoming a global technology powerhouse, showcasing the Kingdom's commitment to nurturing the growth of next-generation technology leaders on an international stage.
About Rezolve AI Limited
Rezolve is taking retailing into a new era of customer engagement with a proprietary mobile engagement platform. The Rezolve Platform is a powerful set of mobile commerce and engagement capabilities that provide mobile application vendors with a range of valuable commercial opportunities that can be realized without having to develop code, host operations or manage security. The Rezolve Inside SDK allows mobile application vendors to quickly deliver innovation for their consumers into existing or new mobile apps. Rezolve was founded in 2016, is headquartered in London, UK and has offices including: Shanghai, New Delhi, Taipei, Frankfurt, Madrid, Mexico City and Providence, RI, USA. (www.rezolve.com)
About Armada Acquisition Corp. I
Armada Acquisition Corp. I (NASDAQ:AACI) is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Armada was founded on November 5, 2020 and is headquartered in Philadelphia, PA.
Media contacts:
Ministry of Investment, Kingdom of Saudi Arabia:
[email protected]
Rezolve:
[email protected]
44-7576-094-040
Armada Acquisition Corp:
Mike Bishop Bishop IR, LLC [email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c01e8271-55cc-41e5-818e-e68133cdc513
