Riyadh – Sharikat Mubasher: NEOM Investment Fund (NIF), the strategic investment arm of NEOM, announced a new investment in MemryX, a U.S.-based company specializing in edge AI semiconductor solutions.

The partnership aims to accelerate the deployment of next-generation, energy-efficient AI accelerators essential for NEOM’s digital infrastructure, according to a recent press release.

Majid Mufti, CEO of NIF, said the move supports NEOM’s vision of an AI-native, energy-efficient future and strengthens its role in advancing transformative technologies.

MemryX’s MX3 AI chip offers high performance with significantly lower power consumption, enabling applications such as smart video systems, autonomous infrastructure, and industrial automation.

NEOM executives said MemryX’s solutions will reduce reliance on centralized computing by processing large volumes of data locally, enhancing efficiency across NEOM’s digital systems.

The investment is part of NIF’s growing portfolio focused on scaling frontier technologies and building the foundation for NEOM’s AI-powered economy.