Riyadh, Saudi Arabia — Saudi Arabia’s Humain artificial intelligence company has secured up to $1.2 billion in financing to expand digital infrastructure, a statement said, as the kingdom bolsters its investment in AI.
The non-binding framework agreement with Saudi Arabia’s National Infrastructure Fund outlines the development of up to 250 megawatts in data centre capacity.
Humain, backed by Saudi’s nearly trillion-dollar sovereign wealth fund, launched last May as the world’s biggest oil exporter bets on AI to help diversify its economy.
“Our goal is to deliver world-class AI data centre infrastructure that enterprises can rely on as their compute needs grow more complex,” chief executive Tareq Amin said in the statement on Wednesday.
Saudi Arabia and the United Arab Emirates, its neighbour and fellow leading oil producer, are both investing heavily in data centres and companies that supply AI products, including generative models.
Humain and the Saudi infrastructure fund are also exploring setting up a data centre investment platform to bring in institutional investors “to support further scaling of Humain’s AI strategy”, the statement said.
In November, Humain announced a partnership with Nvidia, as US officials cleared the way for the sale of advanced microchips to the Gulf kingdom.
