Saudi PIF’s Alat, a new company under the ownership of the Saudi Arabian Public Investment Fund (PIF), has made a significant move by introducing two new business units aimed at capitalizing on the expanding AI and electrification markets.
The announcement came during the Milken Institute Conference in Los Angeles, USA, where Alat unveiled its Electrification and AI Infrastructure divisions to cater to the increasing demand for AI infrastructure and to support the global energy transition.
The Electrification business unit will concentrate on transmission and distribution technologies, incorporating the integration of renewable energy sources into the grid. It will also focus on cutting-edge technologies for gas and hydrogen generation and compression.
On the other hand, the AI Infrastructure division will emphasize the essential technology required for AI capabilities. This will include network and communication equipment, servers, data center networking equipment, data center storage, industrial edge servers, and industry 4.0 computing.
In a statement, Alat highlighted that these two new units are designed to address the unprecedented global demand for AI infrastructure and the critical necessity to bolster electricity grid technology in support of the global energy transition.
Market forecasts indicate significant growth potential for both sectors. The global electrification market is projected to expand from $73.64 billion in 2022 to $172.9 billion by 2032. Similarly, the global AI infrastructure market is expected to reach $460.5 billion by 2033, with a compound annual growth rate (CAGR) of 28.3% over the next decade.
With the launch of these new business units, Alat is strategically positioning itself to seize opportunities in the flourishing AI and electrification markets, contributing to the advancement of technology and energy transition on a global scale.
