HUMAIN, an artificial intelligence company backed by Saudi Arabia’s Public Investment Fund (PIF), announced a Strategic Financing Framework Agreement with the National Infrastructure Fund (“Infra”) worth up to US$ 1.2 billion. The agreement, aimed at developing AI and digital infrastructure projects throughout the Kingdom, was revealed during the World Economic Forum (WEF) in Davos, Switzerland.
The Framework Agreement delineates non-binding financing terms for HUMAIN’s initiative to establish up to 250 MW of hyperscale AI data center capacity. These facilities are set to utilize GPUs for AI training and inference, catering to HUMAIN’s clientele at local, regional, and global levels.
“Demand growth for advanced compute is intensifying, and this Framework Agreement positions HUMAIN to respond with speed and scale. In partnership with Infra, our goal is to deliver world-class AI data center infrastructure that enterprises can rely on as their compute needs grow more complex,” said Tareq Amin, CEO of HUMAIN.
Eng. Ismael Alsallom, CEO of Infra, emphasized that the agreement signifies an essential step in enhancing Infra’s role in unlocking infrastructure investment opportunities within the Kingdom. “Our partnership with HUMAIN will activate new pathways to grow institutional investment and develop the digital economy through enabling AI infrastructure,” he noted.
In a strategic move, Infra and HUMAIN have also agreed to explore the creation of an AI data center investment platform. This initiative aims to enlist both global and local institutional investors to support the expansion of HUMAIN’s AI strategy, thus facilitating further growth in this vital sector.
This collaboration is indicative of the broader global trend towards enhancing AI capabilities, with countries increasingly recognizing the importance of digital infrastructures. Saudi Arabia’s commitment to this initiative aligns with its Vision 2030 framework, which seeks to diversify the economy and reduce dependence on oil revenues through technology and innovation.
As the demand for advanced AI applications escalates, the establishment of dedicated data centers is becoming increasingly crucial. These infrastructures not only support the burgeoning AI landscape but also enhance operational efficiencies across various sectors, from healthcare to finance.
The implications of this Framework Agreement extend beyond mere investment figures. It highlights Saudi Arabia’s ambition to position itself as a regional hub for AI and technology development, attracting talent, investment, and innovation. The partnership between HUMAIN and Infra may serve as a blueprint for future collaborations aimed at fostering technological advancements in the Kingdom.
As the world continues to grapple with the complexities of AI integration, initiatives such as this one underscore the importance of robust infrastructure in meeting the evolving needs of businesses. With continued investment in AI and digital infrastructure, Saudi Arabia is poised to make significant strides in the global tech landscape.
For more information on HUMAIN, visit their official website at humain.ai, or learn more about PIF’s initiatives at pif.gov.sa.
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