RIYADH: Saudi Arabia’s NEOM Tech & Digital Co. has rebranded as Tonomus, signaling the next stage in its growth plans.
The rebranding focuses on Tonomus’s role as a cognitive multinational company in a bid to enable NEOM to fuel Saudi Arabia’s economic growth and diversification, according to a statement.
Tonomous, headquartered at NEOM, is building the cognitive foundation and adopting hyper-disruptive solutions integral to the development of NEOM and its flagship initiatives, the statement added.
As it invested $1 billion in 2022 in artificial intelligence-driven products and hyperconnected, predictive and proactive solutions, Tonomous emerged as a global player in the smart-to-cognitive transition.
“Tonomus will support our ambitions by contributing to the future of the tech and digital industry, stimulating innovation, and driving the development of the world’s first cognitive community,” CEO Nadhmi Al-Nasr said.
“This will be realized by involving the most talented and brightest minds to develop the integrated system that will be utilized across all of NEOM’s businesses, sectors and projects,” he added.
In this context, NEOM is cooperating with Low Earth Orbit satellite operator OneWe to establish a $200 million joint venture, aimed at providing rapid and reliable connectivity.