JEDDAH: Souq Okaz, in its 11th edition this year, claimed that it is the largest cultural and commercial gathering on the Arabian Peninsula.
Located 45 kilometers northeast of Taif on a flat plain surrounded by a number of valleys and mountains, the souq’s revival was initiated by Makkah Gov. Prince Khaled Al-Faisal.
The first edition of the revived souq was held in 1428 H. It is now supervised by the Saudi Commission for Tourism and National Heritage (SCTH) to preserve and maintain it as an event that is not limited to poetry because it also represents a tribal event with a great political and social role.
This was a cultural platform where sheikhs met their tribes, initiated agreements and exchanged prisoners.
This event would provide opportunities for reconciliation, declaration of alliances and ending hostilities. It was also known for horse racing and fencing. It was a large commercial market visited by traders coming from Syria, Persia and Yemen, among other countries, and a forum where titles were given to poets, knights and tribes.
On the side lines of the market, speeches and lectures were delivered to visitors and the souq became a wisdom council, in which guidance and conclusions were memorized and shared by the people.
Souq Okaz was one of the most famous markets in ancient times; Arabs headed to the souq during the first 20 days of Dhu Al-Qa’dah.
It was a place where goods were sold and literary works were circulated. The souq continued in the era of the last Prophet (peace be upon him), during the days of the Rashidun and Umayyad caliphates, until year 129 AH, when the Kharijites revolted and looted the market.
The Souq Okaz Awards became some of the most prestigious prizes in the Arab world because of their moral and material values.
They include 13 prizes worth SR2,470,000 ($658,622), and cover a wide range of creativity in terms of literature, arts, and social and human sciences.
The market is characterized by a diversity that suits all age groups. It offers a variety of cultural entertainment programs that reflect the past, keeps up with the present and looks forward to the future.
Souq Okaz offers visitors and guests rich cultural programs ranging from lectures and conferences, as well as cultural, literary, poetry and science nights, with the participation of Saudi and Arab intellectuals, writers, thinkers, and poets.
Souq Okaz: The largest cultural and commercial gathering held on the Arabian Peninsula
Souq Okaz: The largest cultural and commercial gathering held on the Arabian Peninsula
Leading AI company to partner with Saudi Arabia, CEO tells Arab News
- Argentum’s Andrew Sobko: ‘Very easy’ to build new infrastructure, data centers in Kingdom
- In 2024, Saudi Arabia announced $100bn plan to establish AI hub
CHICAGO: The founder and CEO of Argentum AI, one of the world’s leading artificial intelligence companies, has told Arab News that he is looking forward to partnering with Saudi Arabia.
Ukrainian-born Andrew Sobko, based in Chicago, said Crown Prince Mohammed bin Salman has made a significant commitment to AI use.
In 2024, Saudi Arabia announced a $100 billion plan under Vision 2030 to build a hub to develop technology and data centers to handle a significant portion of the world’s AI workload.
The Kingdom reportedly expects AI to contribute more than $135.2 billion to its gross domestic product by 2030, representing roughly 12.4 percent of its economy.
“The US still is the kind of core leader of this AI innovation, development and infrastructure, but we quickly realized that Saudi Arabia sees this as an important asset class, not just as an innovation,” Sobko said.
“They’re deploying tons of capital. If you try to build some new infrastructure or data center, it’s very easy to do it in Saudi Arabia,” he added. “Saudi Arabia realizes and sees this compute as almost like a second asset class after oil.”
The term “compute” refers to the process of calculations that fuels AI development and applications in everyday use.
“The Middle East wants to be one of the largest exporters of compute. They realized that a couple of years ago and they’re aggressively expanding,” Sobko said, adding that AI is being used more and more in industries such as sports, in which Saudi Arabia has invested heavily.
Argentum AI recently added Majed Al-Sorour, CEO of the Saudi Golf Federation, to its board.
“Majed is also a huge believer in AI and AI infrastructure,” said Sobko. “With the help of Majed, we’re focusing on global expansion. He’s leading charge on that.”
Sobko said the challenge is not simply recognizing the importance of AI, but the ability to power data centers that it requires, and Saudi Arabia recognizes that need.
“If you secure a significant amount of power and you have data center capacity, you can actually control this kind of compute and AI,” he added.
“And the biggest bottleneck to continue expanding as we enter into this new age of robotics industry, it needs a lot more compute.”
Following meetings with US leadership, including President Donald Trump last November, Saudi Arabia secured agreements on AI technology transfers, aiming to avoid reliance on other nations’ systems.
