The Kingdom of Saudi Arabia and Rezolve AI Ink Pioneering MOU to Establish Global AI Market Leaders

The Kingdom of Saudi Arabia and Rezolve AI Ink Pioneering MOU to Establish Global AI Market Leaders
Dan Wagner, CEO and Chairman of Rezolve AI Limited and Saleh Al-Khabti, Deputy Minister of Investment Transactions for the KSA
  • Establishment of an AI Centre of Excellence in Saudi Arabia
  • Creation of Global Market Leaders

(Please Note on December 17, 2021, Rezolve AI entered into a definitive Business Combination Agreement (as amended and restated on June 16, 2023, the “Business Combination Agreement”) with Armada Acquisition Corp. I (NASDAQ: AACI), a publicly traded special purpose acquisition company, which is expected to close in H1 2024, subject to approval by Armada’s shareholders, the Registration Statement being declared effective by the SEC, and other customary closing conditions. Upon closing of the transaction, the combined company’s shares are expected to trade on the Nasdaq under the ticker symbol “ZONE”.)

LONDON, March 18, 2024 (GLOBE NEWSWIRE) — In a strategic move that highlights the Kingdom of Saudi Arabia’s commitment to technological advancement and economic growth, the Ministry of Investment of Saudi Arabia (MISA) has forged a groundbreaking partnership with Rezolve AI Limited. This collaboration is set to revolutionize the artificial intelligence (AI) landscape, establishing an AI Centre of Excellence in Saudi Arabia as a cornerstone of Vision 2030’s innovation and development goals.

Key Highlights of the Partnership:

• Establishment of an AI Centre of Excellence in Saudi Arabia: To serve as a hub for innovation, leveraging Rezolve AI’s unique technology to navigate and solve the industry’s pressing challenge of AI hallucinations, ensuring the creation of reliable and ethical AI solutions.

• Creation of Global Market Leaders: In partnership with the Ministry of Investment, the goal is to launch at least five AI ventures in diverse market sectors, funded and headquartered locally, each aspiring to become global market leaders. These ventures will leverage Rezolve’s cutting-edge AI Large Language Model (brainpowa) to foster innovation and ensure global leadership without succumbing to AI hallucinations.

The initiative is integral to Saudi Arabia’s strategic vision, positioning the Kingdom not just as a leader in AI technology but also as the foundation for global AI-driven companies. This underscores Saudi Arabia’s role as a nucleus for technological innovation and economic diversification.

The Ministry of Investment will facilitate the participation of leading public and private financial and corporate institutions to anchor and support Rezolve’s upcoming listing on NASDAQ. This demonstrates KSA’s commitment to being open for business and welcoming the next generation of global leaders, encouraging them to base their operations and Headquarters in the Kingdom.

At the signing ceremony in Riyadh last week, Saleh Al-Khabti, Deputy Minister of Investment Transactions for the KSA, and Dan Wagner, CEO and Chairman of Rezolve AI Limited, underscored the transformative potential of this partnership. It marks a significant milestone in Saudi Arabia’s journey toward becoming a global technology powerhouse, showcasing the Kingdom’s commitment to nurturing the growth of next-generation technology leaders on an international stage.

About Rezolve AI Limited

Rezolve is taking retailing into a new era of customer engagement with a proprietary mobile engagement platform. The Rezolve Platform is a powerful set of mobile commerce and engagement capabilities that provide mobile application vendors with a range of valuable commercial opportunities that can be realized without having to develop code, host operations or manage security. The Rezolve Inside SDK allows mobile application vendors to quickly deliver innovation for their consumers into existing or new mobile apps. Rezolve was founded in 2016, is headquartered in London, UK and has offices including: Shanghai, New Delhi, Taipei, Frankfurt, Madrid, Mexico City and Providence, RI, USA. (www.rezolve.com)

About Armada Acquisition Corp. I

Armada Acquisition Corp. I (Nasdaq: AACI) is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. Armada was founded on November 5, 2020 and is headquartered in Philadelphia, PA.

Media contacts:

Ministry of Investment, Kingdom of Saudi Arabia:
InvestorCare@misa.gov.sa

Rezolve:
urmeekhan@rezolve.com
44-7576-094-040

Armada Acquisition Corp:
Mike Bishop Bishop IR, LLC mike@bishopir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c01e8271-55cc-41e5-818e-e68133cdc513

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Lunar relay satellite all set for launch

The combination of the relay satellite Queqiao-2 and the Long March-8 Y3 carrier rocket has been vertically transferred to the launching area at the Wenchang Space Launch Center in south China's Hainan Province. According to the China National Space Administration the satellite is projected to be launched at an appropriate time within the next few days. The rocket check, the joint test work and the propellant filling will be carried out before the launch. Queqiao-2, or Magpie Bridge-2, will serve as a relay platform for the fourth phase of China's lunar exploration program, providing communications services for the Chang'e-4, Chang'e-6, Chang'e-7, and Chang'e-8 missions. Source: Radio Pakistan

President calls for enhancing trade relations with US, UAE

President Asif Ali Zardari has emphasized the need for further boosting of bilateral ties between Pakistan and the United Arab Emirates in diverse sectors for mutual benefit of the two brotherly countries. He expressed these views while talking to Ambassador of UAE to Pakistan Hamad Obaid Ibrahim Salem Al-Zaabi, who called on him in Islamabad today. The President urged the need to increase collaboration in the aviation industry to facilitate the Pakistani diaspora in the UAE, including the initiation of commercial flights of Airbus A380s. He said that Emirati businesses should be encouraged to invest in the Pakistan Stock Exchange to infuse innovative ideas and more capital in the Pakistan's economy. He maintained that Pakistan and the UAE need to collaborate in the agricultural sector by sharing new technologies as food security is a growing concern for the region due to climate change. During the meeting, the Ambassador highlighted that the UAE is committed to Pakistan's development and would continue to stand with Pakistan. He stressed upon the need to transform the existing bilateral relationship into a strategic partnership between two countries. He said that big companies from the UAE are keen to invest in aviation, agriculture, renewable energy, education and healthcare in Pakistan. President Asif Ali Zardari has stressed the need to enhance trade and investment relations with the United States and exploring collaborative opportunities in diverse sectors. He was talking to US Ambassador Donald Blome, who called on him, in Islamabad today. The President said American enterprises should be encouraged to invest in the Pakistan Stock Exchange as well as bring innovative business ideas to the country's economy. During the meeting, the President said Pakistan and the United States have long-standing and broad-based relationship with the United States spanning over seven decades, which needs to be further strengthened. Asif Ali Zardari said the top priority of Pakistan is to put its economy on the rig ht track and overcome economic and security challenges. He highlighted that climate change is a global issue, and Pakistan is among the countries most vulnerable to its adverse impacts. He said Pakistan wants to improve its agricultural sector by adopting modern irrigation techniques to conserve water and reduce reliance on flood irrigation. The US Ambassador said Pakistan and the United States can enhance bilateral collaboration in the fields of trade and investment, climate change, renewable energy, agriculture and security. He informed that the United States has completed the Sindh Basic Education Program to build climate-resilient schools to strengthen Pakistan's education sector. Donald Blome also congratulated the President on assuming the office for a second time. Source: Radio Pakistan

Security forces kill eight terrorists in North Waziristan

Security forces have killed eight terrorists including a high value target terrorist commander Sehra alias Janan during an intelligence based operation in North Waziristan. According to the ISPR, the terrorist commander was involved in orchestrating the terrorist attack on the security forces' post in Mir Ali on Saturday. He was highly wanted by the law enforcement agencies. Sanitization operations are being conducted to eliminate any other terrorists in the area. The ISPR in its statement reaffirmed the determination to wipe-out the menace of terrorism from the country. Source: Radio Pakistan

Pakistan conducts anti-terror operations in border regions inside Afghanistan

Pakistan carried out intelligence-based anti-terrorist operations in the border regions inside Afghanistan this morning. The Foreign Office, in a statement said, target of today's operation was terrorists belonging to Hafiz Gul Bahadur Group, which along with Tehrik-i-Taliban Pakistan, is responsible for carrying out multiple terrorist attacks inside Pakistan, resulting in deaths of hundreds of civilians and law enforcement officials. The latest attack took place on Saturday last at a security post in Mir Ali in North Waziristan and claimed the lives of seven Pakistani soldiers. The statement further said over the past two years, Pakistan has repeatedly conveyed its serious concerns to the Interim Afghan Government over the presence of terror outfits including TTP inside Afghanistan. These terrorists pose a grave threat to Pakistan's security and have consistently used Afghan territory to launch terror attacks inside Pakistani territory. The Foreign Office said Pakistan accords prime importance to the sove reignty and territorial integrity of Afghanistan. It has, therefore, always prioritized dialogue and cooperation to confront the terrorist threat. The statement said Islamabad has repeatedly urged the Afghan authorities to take concrete and effective action to ensure that the Afghan soil is not used as a staging ground for terrorism against Pakistan. We have also called on them to deny safe havens to TTP and to hand over its leadership to Pakistan. The Foreign Office made it clear that Pakistan has great respect for the people of Afghanistan. However, certain elements among those in power in Afghanistan are actively patronizing TTP and using them as a proxy against Pakistan. Such an approach against a brotherly country, which stood with the people of Afghanistan through thick and thin, manifests shortsightedness. It ignores the support extended by Pakistan to the people of Afghanistan over the last several decades. We urge these elements in power to rethink the policy of siding with Khwarij terrorists shedd ing the blood of innocent Pakistanis and to make a clear choice to stand with the people of Pakistan. The Foreign Office said terrorist groups like TTP are a collective threat to regional peace and security. It said Pakistan fully realizes the challenge Afghan authorities face in combating the threat posed by TTP. Pakistan would therefore continue to work towards finding joint solutions in countering terrorism and to prevent any terrorist organization from sabotaging bilateral relations with Afghanistan. Source: Radio Pakistan

11th death anniversary of 1965 War Hero MM Alam observed

The 11th death anniversary of 1965 War Hero Muhammad Mahmood Alam, popularly known as M M Alam was observed on Monday. Pakistan Air Force legendary war hero M M Alam, nicknamed while piloting an F-86 Sabre, shot down five Indian war planes in less than a minute during 1965 Pak-India war and altogether, downed nine war planes in the aerial fight. MM Alam was the first ever fighter pilot for PAF, listed on top in the hall of famers' list at the PAF Museum in Karachi. Alam is considered as a national hero for Pakistan, most significantly, for his remarkable show of brilliance in the war of 1965. He was awarded the 'Sitara-e-Jurat' and also the BAR medal. He died in Karachi on this day in 2013 at the age of 77 after a protracted illness. Chairman Joint Chiefs of Staff Committee and Services Chiefs have paid tribute to the 1965 war hero Air Commodore Mohammad Mahmood Alam on his 11th death anniversary. Source: Radio Pakistan