NEOM Investment Fund (NIF), the strategic investment arm of Saudi Arabia’s NEOM project, has invested in MemryX, a US-based company specialising in Edge AI semiconductor solutions. The partnership aims to accelerate developing and deploying energy-efficient edge AI accelerators critical to NEOM’s digital infrastructure.
MemryX’s MX3 AI accelerator is designed to deliver low-latency AI performance while consuming less power than traditional GPU solutions. The technology supports various edge applications, including intelligent video systems, industrial environments, and autonomous infrastructure.
NEOM plans to integrate MemryX’s technology to process large volumes of data locally, reducing reliance on centralised infrastructure and bandwidth. This approach aligns with NEOM’s objective to establish a decentralised, AI-native digital ecosystem.
The investment in MemryX is part of NIF’s broader strategy to support technologies that contribute to NEOM’s development across its 15 priority sectors, including technology, mobility, and energy.
MemryX, headquartered in Ann Arbor, Michigan, has raised $44 million in Series B funding as of March 2025 to scale production and develop its next-generation MX4 accelerator.
NIF’s portfolio includes investments in companies such as Pony.AI, Regent, Boom Technology, BlueNalu, and Animoca Brands, reflecting its commitment to advancing frontier technologies.
