Tech: Google's parent company Alphabet is exploring a relationship with Saudi Arabia oil giant to build a 'tech hub' in the Middle East (GOOG)

The deal could help Alphabet do more business with oil companies in the Middle East, The Wall Street Journal reported on Thursday.

• Google's parent company, Alphabet, is reportedly in talks with Saudi Arabia's state-owned oil company Aramco about building a "tech hub" in the Middle East.
• According to The Wall Street Journal, Alphabet would build data centers in the region.

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Google's parent company Alphabet is exploring a deal with Saudi Arabia's state-owned oil company Aramco to build data centers in the Middle East, The Wall Street Journal reported Thursday.

The report says Alphabet wants to help Aramco build a "tech hub" in the region as competition from other companies like Amazon heats up.

Aramco, a privately held company that could be the most valuable company in the world, has reportedly been planning a $2 trillion IPO set for late 2018. It will likely be the world's biggest IPO.

While a joint venture with Alphabet isn't directly tied to Aramco's plans to go public, The Journal notes that the oil company could use the partnership to entice investors.

The deal is not finalized, and a partnership may never materialize, the report says.

Read The WSJ piece for more details.

The deal could help Alphabet do more business with oil companies in the Middle East, The Wall Street Journal reported on Thursday. Read Full Story