By Gulf Times Now DUBAI — The Middle East’s artificial intelligence startup ecosystem raised a record $8 billion in venture capital investment over the past 12 months, with Dubai and Riyadh cementing their positions as the two dominant technology hubs in a region that is increasingly rivalling Silicon Valley as a destination for early-stage AI capital.
The figure represents a 340% increase from just three years ago and positions the Middle East ahead of India, Southeast Asia, and Latin America as the world’s fastest-growing AI venture ecosystem.
Healthcare AI attracted the largest single share of investment at $2.1 billion, followed by fintech AI ($1.8 billion), government and smart city AI ($1.4 billion), and logistics automation ($940 million). Several startups in the cohort have already achieved unicorn status, with three more on the cusp of crossing the $1 billion valuation threshold.