Saudi Arabia Plans $2.5B Data Centers

Humain, an artificial intelligence company, plans to raise $2.5 billion through an investment fund focused on data centers in Saudi Arabia, in partnership with Al Ma'mar for Information Systems. The fund aims to develop data centers with a capacity of 250 megawatts, with the potential to expand to a gigawatt, managed by P.S.F. Capital after approval from the Capital Market Authority. The funding will be a mix of debt and equity. These plans are part of Saudi Arabia's efforts to boost investments in artificial intelligence as part of a broader strategy to diversify its economy, with similar regional initiatives across the Gulf to invest in technological infrastructure and enhance computational capabilities.

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