In a major step toward building the cities of the future, the NEOM Investment Fund (NIF) has announced a strategic investment in MemryX, a US-based pioneer in energy-efficient Edge AI semiconductor solutions. This partnership is all about pushing the limits of intelligent computing while keeping things sustainable and scalable.
Edge AI is the kind of tech that lets machines think faster and smarter without relying on the cloud, and MemryX is right at the forefront of it.
What the Leaders Are Saying
Majid Mufti, CEO of NIF, shared:
“Our investment in MemryX is a leap forward in building NEOM’s AI-native, energy-efficient future. It aligns with our goal to support transformative tech that fuels intelligent digital infrastructure and powers a new digital economy.”
And from the other side, MemryX CEO Keith Kressin added:
“NEOM is one of the boldest visions of the future. This partnership confirms that our Edge AI accelerators are the right tools for cities built on autonomy and high-performance computing.”
What makes MemryX Tech so special?
At the core of this collaboration is MemryX’s MX3, an AI accelerator that stands out in three key ways:
- ✅ Ultra-low power consumption compared to traditional GPUs
- ✅ Low-latency, real-time AI processing – perfect for Edge applications
- ✅ Scalable across multiple environments, from smart cameras to autonomous systems
Use Cases Include:
- Smart video surveillance systems
- Intelligent industrial automation
- Autonomous infrastructure (like self-driving public transport and traffic control)
This is tech made to thrive in NEOM’s futuristic ecosystem, where data privacy, speed, and energy-efficiency are top priorities.
Why does MemryX matter for NEOM
As part of NEOM’s Tech & Digital Sector, MemryX’s edge solutions will help shift data processing from centralized servers to local devices. This means:
- Less lag time
- Lower bandwidth use
- Increased privacy and reliability
Peter Watson, Head of Infrastructure Strategy at NEOM, put it simply:
“MemryX’s breakthrough tech lets us process tons of video data locally. This makes our systems smarter and far more efficient—key to powering NEOM’s AI-first cities.”
MemryX-NEOM colab is laying the groundwork for an AI Economy
This move is part of a broader vision from the NEOM Investment Fund, which is investing in cutting-edge technologies to:
- ✔️ Enable NEOM’s commercial and technological success
- ✔️ Build the infrastructure for a cognitive, AI-native economy
- ✔️ Support global innovators like MemryX at scale
NEOM isn’t just dreaming about the future—it’s building it in real time. And with MemryX onboard, that future is looking faster, smarter, and greener.