The agreement, which outlines non-binding financing terms, aims to develop up to 250 megawatts of AI data center capacity to serve Humain’s customers. The announcement was made in Davos, Switzerland, according to an official statement, News.Az reports, citing Reuters.
The world's top oil exporter is seeking to accelerate its AI development to capitalise on massive demand for computing power, as part of a broader effort to diversify income sources and economic activity away from hydrocarbons.
Humain, established last year and fully owned by the Public Investment Fund, is expected to lead national efforts to this end. It has secured several agreements including deals with Elon Musk's xAI and Blackstone-backed AirTrunk for data centre projects in the country, and is targeting a capacity of about 6 gigawatts by 2034.
Infra, part of Saudi Arabia's National Development Fund, and Humain also agreed to explore a potential AI data centre investment platform, which they will jointly anchor, designed to help global and local institutional investors support the growth of Humain's AI strategy.
