Saudi Arabia’s National Infrastructure Fund has partnered with Humain, the kingdom’s artificial intelligence company, to secure up to $1.2 billion for expanding AI infrastructure.
- Saudi Arabia’s National Infrastructure Fund has partnered with Humain, the kingdom’s artificial intelligence company, to secure up to .2 billion for expanding AI infrastructure.
- Humain is targeting an impressive data centre capacity of approximately 6 gigawatts by 2034, reflecting its commitment to positioning Saudi Arabia as a major player in the global AI landscape.
This financing agreement, announced this week in Davos, Switzerland, sets forth non-binding terms for developing up to 250 megawatts of data centre capacity. This initiative aims to bolster Humain’s ability to serve its customers effectively.
Ai infrastructure: Ambitions to Diversify Economic Activity
As the world’s leading oil exporter, Saudi Arabia is keen to accelerate its AI development. The aim is to meet the soaring demand for computing power while transitioning the economy away from its reliance on hydrocarbons. This strategic shift is part of a broader vision to diversify income sources and stimulate diverse economic activities.
Humain’s Growing Role in AI Development
Founded last year and fully owned by the Public Investment Fund, Humain is set to spearhead the kingdom’s AI initiatives. The company has already established significant partnerships, including collaborations with Elon Musk’s xAI and AirTrunk, which is backed by Blackstone, to facilitate data centre projects across the country.
Future Capacity Goals
Humain is targeting an impressive data centre capacity of approximately 6 gigawatts by 2034, reflecting its commitment to positioning Saudi Arabia as a major player in the global AI landscape.
Exploring New Investment Platforms
In addition to the financing agreement, Humain and the National Infrastructure Fund are considering a joint investment platform focused on AI data centres. This platform aims to attract both global and local institutional investors to bolster the growth of Humain’s AI strategy.
