The Public Investment Fund (PIF)-owned HUMAIN and the state-backed National Infrastructure Fund signed a financing agreement of up to $1.2 billion to support the expansion of AI and digital infrastructure projects in the Kingdom.

The agreement, signed on the sidelines of the World Economic Forum (WEF) meeting in Davos, outlines non-binding financing terms for HUMAIN’s development of up to 250 megawatt (MW) of hyperscale AI data centre capacity.

These data centres will deploy GPUs for AI training and inference, supporting HUMAIN’s local, regional, and global customers, the companies said in a joint statement.

In addition, Infra and HUMAIN will jointly explore launching an AI data center investment platform. The two organisations will anchor the platform and enable global and local institutional investors to support the scaling of HUMAIN’s AI programme.
 
The National Infrastructure Fund is the Kingdom’s lead development financing partner for infrastructure and is a supervised entity of the National Development Fund.

In December, Saudi-listed stc’s subsidiary, Digital Centres for Data and Telecommunications Company (Centre3), signed an agreement with HUMAIN to establish a joint venture to develop and operate AI-focused data centres in the Kingdom.

(Editing by Anoop Menon) (anoop.menon@lseg.com) 

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