Saudi Arabia Takes On Apple Vision Pro with Heavy Investment

Saudi Arabia’s PIF invests $500m in VR headset to challenge Apple

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has made a significant investment in the virtual reality (VR) space by injecting over $500 million into Magic Leap, a US-based tech company. The funds will be used to develop a VR headset that aims to compete directly with Apple’s highly anticipated Vision Pro goggles. This move by the PIF demonstrates its commitment to diversifying its investment portfolio and staying at the forefront of technological advancements.