Pasqal and Eleven Ventures, a Kingdom of Saudi Arabia based investment platform and venture capital firm, today announced an agreement to establish a commercial joint venture to deploy, commercialize and scale Pasqal’s quantum computing systems across the Kingdom of Saudi Arabia (KSA) and the region, with plans to deploy multiple quantum systems in the coming years. The venture is designed to advance the Kingdom’s Vision 2030 ambitions in artificial intelligence and advanced computing, and to position KSA as a regional hub for quantum technology.
The joint venture intends to deploy and operate Pasqal’s neutral-atom systems in KSA and bring Pasqal to market for customers across KSA and the wider region. It is also expected to build local talent and expertise, so that quantum capability is developed within KSA rather than accessed from abroad. The appointment of HRH Prince Abdulaziz Bin Turki Bin Talal, the founder of Eleven Ventures, as Chairman of the Board of Pasqal Arabia will provide strategic leadership across KSA and the region.
The announcement comes as KSA and France deepen their strategic partnership in advanced technologies, coinciding with the Kingdom of Saudi Arabia’s State Visit to France on August 24th. As part of the visit, KSA’s officials visited Pasqal’s headquarters and quantum computer production site, underscoring the growing strategic importance of quantum computing cooperation between the two countries.
Pasqal believes that quantum computing and AI are converging into the infrastructure of the next decade of computing. Additionally, Pasqal believes that the joint venture will give customers in KSA and the region direct, commercial access to that infrastructure at scale, meeting fast-growing regional demand for sovereign, high-performance computers.
“The Kingdom has moved faster than most markets to turn advanced computing into national capability. We believe this joint venture puts Pasqal’s quantum systems inside the Kingdom, built to scale with the region’s ambition – not adjacent to it,” said Dr. Wasiq Bokhari, Chief Executive Officer of Pasqal.
“We believe that quantum today is where AI stood a few years ago, on the edge of changing everything. The difference is that this time, the Kingdom and the region are not watching from a distance, we are moving first, and in Pasqal we found a partner that will not wait either. Together we plan to deploy real systems, raise a generation of quantum talent, and make the Kingdom the home of this technology for the entire region,” said HRH Prince Abdulaziz Bin Turki Bin Talal, Chairman of the Board of Pasqal Arabia.
