Saudi Arabia’s Public Investment Fund increased its Amazon shares by more than 50% in the first quarter

Saudi Arabia’s Public Investment Fund increased its Amazon shares by more than 50% in the first quarter

Saudi Arabia’s Public Investment Fund (PIF) bought 50.2% more Amazon shares in the first quarter of 2025, bringing its total to 1.2 million shares.

PIF Holdings

The Saudi wealth fund sold 25.4% of its shares in Pinterest. By the end of the quarter, it owned 4.1 million Class A shares, according to a report.

PIF sold all its shares in Ballard Power Systems. But it bought more shares in Bloom Energy, increasing its holding by 16.8% to 3.8 million Class A shares.

These changes are based on holdings as of March 31, compared to the previous quarter ending December 31, 2024.

Leadership Changes

On Thursday, PIF said Saad Alkroud, who was the chief of staff, is now in charge of its local real estate investment team. He will manage the fund’s property and infrastructure projects inside Saudi Arabia, including big projects and important developments.

This comes after Aiman AlMudaifer was named CEO of NEOM. Maram Al Johani is now acting chief of staff and secretary general of PIF’s board.

AWS Saudi Investment

Amazon Web Services (AWS) and Saudi Arabia’s AI startup Humain announced on Tuesday a $5 billion deal to start an AI zone. This will help grow AI use in many industries and increase demand for AI technology locally and globally.

This is part of AWS’s bigger $5.3 billion plan to build a new cloud region in Saudi Arabia, which should start working in 2026.

Humain will create AI solutions using AWS tools and help build a marketplace for AI agents. This supports Saudi Arabia’s digital plans. They will also work on Arabic Large Language Models (ALLaMs) and bring AI to sectors like healthcare, education, energy, and government.

The AWS Generative AI Innovation Center will team up with Humain to speed up projects like personalized learning, early disease detection, and better government services. They will also help startups, companies, and government groups grow their AI work.

Published: 17th May 2025

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