Saudi Arabia’s artificial intelligence company, Humain, has secured a financing agreement of up to $1.2bn to accelerate the expansion of AI and digital infrastructure across the kingdom.
The deal, announced on Wednesday in Davos, Switzerland, was signed between Humain and Infra, a unit of Saudi Arabia’s National Development Fund, according to a statement by the parties.
Under the agreement, the funding structured as non-binding financing terms will support the development of up to 250 megawatts of artificial intelligence data centre capacity to meet the growing needs of Humain’s customers.
The move comes as the world’s largest oil exporter intensifies efforts to fast-track AI development in response to surging global demand for computing power, as part of a broader strategy to diversify its economy away from hydrocarbons.
Humain, established last year and wholly owned by the Public Investment Fund, is expected to spearhead Saudi Arabia’s national AI ambitions.
The company has already signed several strategic agreements, including partnerships with Elon Musk’s xAI and Blackstone-backed AirTrunk, aimed at developing data centre projects within the kingdom.
The AI firm is targeting total data centre capacity of about six gigawatts by 2034.
As part of the latest agreement, Infra and Humain also committed to exploring the creation of an AI data centre investment platform, which both institutions would jointly anchor.
The platform is designed to attract global and local institutional investors to support the implementation of Humain’s long-term AI strategy.
The initiative underscores Saudi Arabia’s growing push to position itself as a major global hub for artificial intelligence and advanced digital infrastructure.
