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Tag: saudi aramco (page 1 of 1)

Aramco to bring Google Cloud Services to Saudi Arabia USA 

Saudi Aramco has signed a strategic alliance with Google Cloud to offer cloud services in the Islamic state. Google Cloud will establish and operate a new cloud region in Saudi Arabia and form a new company for regulatory clearances. Cloud services market in Saudi Arabia is projected to touch $10 bn by 2030. Under its Vision 2030 reform plans, the kingdom has encouraged foreign investment, especially in the technology sector and tried luring Silicon Valley players.

Record-breaking: Apple becomes the first US company to hit $2 trillion

Apple has become the first US company to hit a market cap of $2 trillion. The firm last hit a $1 trillion market cap two years ago. This means that in just 24 months the iPhone maker has doubled its value. It surpassed Saudi Aramco – the world’s first company to hit $2 trillion market value – on August 4, 2020. Shares in Apple have been on a tear for years but they’ve performed particularly well in 2020, gaining by more than 50%, despite the COVID-19 pandemic.

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