PIF Board Approves 2026–2030 Strategy: AI Infrastructure Priority, Reduced NEOM Exposure

The Public Investment Fund (PIF) Board of Directors, chaired by Crown Prince Mohammed bin Salman, approved the Kingdom's sovereign wealth fund 2026–2030 strategy in late May 2026. The strategy marks a significant pivot from the previous 2021–2025 framework: AI infrastructure and AI company investments are elevated as the primary new sector, displacing the large-scale giga-project tourism focus that characterized the earlier period. Funding commitments for NEOM, Red Sea Destination, and Amaala are reduced, consistent with the suspension of 'The Line' construction in September 2025. PIF ended its LIV Golf funding commitment in favor of football — particularly the 2034 FIFA World Cup infrastructure — esports, and Formula E. Total AUM reached 3.41 trillion SAR (~$909 billion) at end-2025. The strategy also reflects the Iran war's impact: FDI has fallen 60–70% year-on-year in Q1 2026, and PIF is increasingly expected to provide domestic economic support that foreign private investment once supplied. The Board retained the $1 trillion AUM target but extended the timeline to 2030 from the original 2025 goal.