The Neom Investment Fund (NIF), Neom’s strategic investment arm, has announced a major investment in MemryX, a U.S.-based leader in edge AI semiconductor technology. This strategic partnership aims to accelerate developing and deploying next-generation, low-power AI accelerators, vital to Neom’s intelligent, high-privacy digital ecosystem.

Majid Mufti, CEO of NIF, said, “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 product, the MX3 AI accelerator, offers industry-leading energy efficiency and low-latency performance, consuming only a fraction of the power required by traditional GPU solutions. The chip’s architecture is designed for various edge applications, including intelligent video systems, smart industrial settings, and autonomous infrastructure.

“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,” Keith Kressin, CEO of MemryX, said.

MemryX’s software-first approach enables integration across a wide range of applications. Its developer-friendly platform already supports a rapidly growing ecosystem of partners and customers.

Peter Watson, head of infrastructure strategy at Neom’s Tech & Digital sector, added, “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.”