Davos, Switzerland. Saudi Arabia’s National Infrastructure Fund and Humain announced a financing agreement of up to $1.2 billion to support the expansion of AI and digital infrastructure in Saudi Arabia. The agreement outlines non-binding financing terms for developing up to 250 megawatts of AI data centre capacity to support Humain’s customers.
Financing agreement and capacity plans
The financing terms were announced in Davos, Switzerland, according to a statement. The agreement covers the development of up to 250 megawatts of AI data centre capacity.
Saudi Arabia’s broader AI push
Saudi Arabia, the world’s top oil exporter, is seeking to accelerate its AI development to capitalise on demand for computing power, as part of efforts to diversify income sources and economic activity away from hydrocarbons.
Humain’s role and partnerships
Humain, established last year and fully owned by the Public Investment Fund, is expected to lead national efforts. The company has secured agreements including deals with Elon Musk’s xAI and Blackstone-backed AirTrunk for data centre projects in the country, and is targeting capacity of about 6 gigawatts by 2034.
Potential investment platform
Infra, part of Saudi Arabia’s National Development Fund, and Humain also agreed to explore a potential AI data centre investment platform that they would jointly anchor, aimed at helping global and local institutional investors support the growth of Humain’s AI strategy.
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