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's National Infrastructure Fund outlines the development of up to 250 megawatts in data center 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 center infrastructure that enterprises can rely on as their computing needs grow more complex,” chief executive officer Tareq Amin said in the statement on Wednesday.
Saudi Arabia and the United Arab Emirates are both investing heavily in data centers and companies that supply AI products, including generative models.
Humain and the Saudi infrastructure fund are also exploring setting up a data center 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.
