RIYADH: Saudi Arabia’s National Infrastructure Fund and Humain, an artificial intelligence company backed by the Public Investment Fund, have agreed on a financing framework worth up to $1.2 billion to expand AI and digital infrastructure in the Kingdom.
The non-binding agreement, announced on the sidelines of the World Economic Forum annual meeting in Davos, sets out financing terms to develop as much as 250 megawatts of AI data center capacity to serve Humain’s local, regional and global customers, according to a statement.
The development aligns with Saudi Arabia’s Vision 2030 program, which aims to position the Kingdom as a regional technology hub by the end of the decade.
Tareq Amin, CEO of Humain, said: “Demand growth for advanced compute is intensifying, and this Framework Agreement positions Humain to respond with speed and scale.”
He added: “In partnership with Infra, our goal is to deliver world-class AI data center infrastructure that enterprises can rely on as their compute needs grow more complex.”
