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Saudi Arabia Gains Majority Stake in Magic Leap in $450M Deal

Road to VR

Saudi Arabia has taken majority share of the US-based augmented reality company Magic Leap, The Telegraph reports, widening the stake via its state-owned sovereign wealth fund with a deal amounting to $450 million. The investment puts the country’s ownership of Magic Leap over 50 percent, giving it overall majority control.

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EON Reality Initiates Groundbreaking Educational Technology Expansion in Saudi Arabia

EON Reality

RIYADH, Saudi Arabia, February 17, 2024 – EON Reality, a trailblazer in immersive educational technology, is proud to announce a transformative educational project in Saudi Arabia featuring the nation’s first-ever Spatial AI Center, alongside a suite of 10,000 tailor-made learning modules.

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EON Reality Announces Strategic Partnership with Squid Nomad in Saudi Arabia

EON Reality

This alliance signifies a deliberate step by EON Reality to broaden the adoption of its state-of-the-art educational and industrial solutions across the Kingdom of Saudi Arabia. Saudi Arabia presents a dynamic and rapidly evolving market for VR and AR technologies. For further information, visit www.eonreality.com.

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Saudi Arabia to Boost Tourism Sector with AR Navigation Technology

XR Today - Augmented Reality tag

announced a partnership with AI Safer to enhance customer experiences for visitors to Saudi Arabian museums and tourist attractions. The region is undergoing Saudi Arabia’s “Vision 2030 “, an initiative to boost its cultural and tourism sector. Today, ARway.ai

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The Fountain of Youth May Be Flooded With Oil Money From Saudi Arabia

GizModo VR

The obnoxiously affluent Saudi Arabia is trying to prove that maybe money can buy everything after all, pouring $1 billion a year into researching ways to slow down the effects of aging. The gulf state’s royal family started a non-profit organization that would grant funds to scientists to understand the underlying… Read more.

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Saudi Arabia Says Pink Hydrogen Is for Girlbosses

GizModo VR

Calling all ladies: Saudi Arabia wants you to work to develop some special forms of energy, just for girls. Saudi Energy Minister Abdulaziz bin Salman made comments last week about the country’s supposed clean energy strides that also promote gender equality. That right, gals. We’re talking about pink hydrogen. Read more.

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Saudi Arabia Wants to Build This Bizarre City Dubbed 'The Line'

GizModo VR

Saudi Arabia is developing a new city, 150-stories tall and built from scratch, that will serve as a semi-enclosed environment where people can live and work without ever stepping foot outside. And while the promotional videos released Monday are likely an attempt to give the development a utopian feel that recalls so… Read more.