A new state-backed Saudi Arabian fund centered on semiconductor and AI technology has guaranteed that it would divest from China if Washington requests it. “US is the number one market, US is the number one partner, and we hope we can partner more deeply,” Alat CEO Amit Midha told Bloomberg during the Milken Institute Global Conference. The firm, financed by a $100 billion capital injection from Saudi Arabia’s Public Investment Fund, would have no problems pulling back from Beijing when asked: