DUBAI, May 19 Saudi Arabia-backed artificial intelligence company Humain has picked Goldman Sachs to advise on a financing package to build data centres in the kingdom that could be worth at least 20 billion riyals, two sources with knowledge of the matter told Reuters, as the…
rm races to expand capacity amid a regional AI push. The move illustrates how Saudi Arabia, like Gulf neighbours Qatar and the United Arab Emirates, is accelerating its AI build-out to capitalise on surging global demand for computing power
The country is also banking on cheap energy to power data centres – a powerful lure for hyperscalers such as Google, Microsoft and Meta that are driving AI adoption. Humain hired the U.S. bank recently as it seeks to fund data centres and GPU chips for 2 gigawatts (GW) of capacity, around a third of its target by 2034, the sources said, requesting anonymity as the matter is not public. The investment could require financing of at least 20 billion riyals ($5.33 billion), the two sources said.
The data centres will be developed in the Riyadh area, according to one of the sources. Humain and Goldman Sachs declined to comment. The Public Investment Fund (PIF), which owns Humain, referred Reuters’ queries to the AI company.