Saudi Arabia’s Humain secures an additional $1.2 billion for AI data center buildout
In an announcement made in Davos yesterday, Saudi Arabia’s National Infrastructure Fund and Humain, the kingdom’s artificial intelligence company, confirmed that they had reached a financing agreement of up to $1.2 billion to expand AI and digital infrastructure nationwide.
The deal sets out non-binding financing terms to support the buildout of up to 250 megawatts of AI data center capacity for Humain’s customers. It was announced during the yearly World Economic Forum, held in the Swiss mountain town.
The announcement is in line with Saudi Arabia’s ambitions to accelerate AI development to benefit from surging demand for computing power. This push is part of a broader strategy to diversify revenue streams and economic activity beyond hydrocarbons that have long dominated the Kingdom’s revenue.
Humain, founded last year and fully owned by the Public Investment Fund, is expected to take a leading role in these national efforts. The company has already secured several agreements, including deals with Elon Musk’s xAI and Blackstone-backed AirTrunk for domestic data center projects, and is targeting a total capacity of around 6 gigawatts by 2034.
Infra, which operates under Saudi Arabia’s National Development Fund, and Humain also agreed to assess the creation of a potential AI data center investment platform. The platform would be jointly anchored by both entities and designed to enable global and local institutional investors to support Humain’s AI expansion.
