The News
Saudi Arabia’s new artificial intelligence platform HUMAIN plans to launch a $10 billion venture fund and build out data center capacity worth as much as $77 billion, its CEO said.
The company, backed by the Public Investment Fund, is also seeking investment from US tech giants, and is in talks about joint projects with OpenAI, Elon Musk’s xAI, and Andreessen Horowitz, Chief Executive Tareq Amin told the Financial Times. HUMAIN will house Saudi Arabia’s AI services, data centers, cloud capabilities, and an Arabic large language model.
The kingdom is working to establish its tech dominance: Riyadh has emerged as the fastest-growing market for data centers in the Middle East, and aims to soon catch up with Abu Dhabi and Dubai in the race to build up the power and capacity needed to fuel the AI boom.