NEOM Investment Fund partners with MemryX to scale energy-efficient Edge AI computing

NEOM, Kingdom of Saudi Arabia, May 5, 2025 – NEOM Investment Fund (NIF), the investment arm of NEOM, has announced a strategic investment in MemryX, a US-based leader in Edge AI semiconductor solutions. The partnership will accelerate the development and deployment of next-generation, energy-efficient edge AI accelerators which are critical to enabling the responsive and high-privacy intelligent digital infrastructure powering NEOM.

Majid Mufti, CEO of NIF, commented: “Our investment in MemryX marks another pivotal step toward realizing NEOM’s vision of an AI-native, energy-efficient future. It also reflects our commitment to backing transformative, next-generation technologies that will define the new era of intelligent digital infrastructure. Through our partnership with MemryX, a stellar fabless innovator, we are accelerating the deployment of advanced computing at scale, while laying the groundwork for a new digital economy.”

MemryX’s flagship AI accelerator, the MX3, delivers industry-leading efficiency, enabling low latency AI performance with a fraction of the power consumption of traditional GPU solutions. The technology’s architecture is designed to support a wide range of edge applications, including intelligent video systems, smart industrial environments and autonomous infrastructure—core enablers of NEOM’s digital ecosystem.

Keith Kressin, CEO of MemryX, said: “NEOM represents one of the boldest technological visions of our time. This partnership with NIF validates our technology’s relevance to future cities and autonomous digital environments. We look forward to working closely with NIF and NEOM to deploy Edge AI solutions that deliver real-world performance at scale.”

MemryX’s software-first design enables seamless integration across diverse use cases, with a developer-friendly platform and performance benchmarks that are already supporting a growing ecosystem of customers.

Peter Watson, Head of Infrastructure Strategy, NEOM’s Tech & Digital Sector, said: “MemryX’s breakthrough approach to Edge AI allows us to process vast volumes of video data locally, significantly reducing our dependency on centralized infrastructure and limited bandwidth. This unlocks smarter, more efficient systems across NEOM’s digital ecosystem. We’re excited to partner with MemryX as they continue to shape the future of AI and computing at the edge.”

The partnership with MemryX is part of NIF’s expanding portfolio of investments, underscoring its role as a strategic investor and ecosystem developer. It reflects NIF’s commitment to enabling NEOM’s commercial success by advancing next-generation infrastructure, scaling frontier technologies and laying the foundations for a cognitive, AI-native economy.