Saudi Arabia Turns Oil Wealth Into AI Power
Saudi Arabia is making another bold move to redefine its economic future — and this time, it’s powered by algorithms instead of oil.
At the World Economic Forum in Davos, the kingdom’s National Infrastructure Fund (Infra) and Humain, its state-backed artificial intelligence company, announced a financing agreement of up to $1.2 billion aimed at rapidly expanding AI and digital infrastructure across the country.
The message is clear: Saudi Arabia wants to become a global hub for artificial intelligence — and it’s ready to invest heavily to get there.
Building the Brains of the Digital Economy
Under the newly announced, non-binding agreement, the funding would support the development of up to 250 megawatts of AI-focused data center capacity. These facilities will supply the immense computing power required by Humain’s growing roster of customers.
AI data centers are among the most capital-intensive projects in the world, consuming massive amounts of energy and requiring cutting-edge infrastructure — areas where Saudi Arabia believes it holds a competitive advantage.
From Oil Superpower to AI Heavyweight
As the world’s largest oil exporter, Saudi Arabia has long been synonymous with hydrocarbons. But with global demand shifting and digital technologies reshaping economies, the kingdom is racing to diversify income sources and future-proof its growth.
AI sits at the heart of that strategy.
Demand for computing power is exploding as companies deploy large language models, autonomous systems, and advanced analytics. Saudi Arabia is positioning itself as the place where that demand can be met at scale.
Humain: The Kingdom’s AI Flagship
Launched just last year and fully owned by the Public Investment Fund (PIF), Humain is leading the country’s national AI push.
The company has already:
Signed agreements with Elon Musk’s xAI
Partnered with Blackstone-backed AirTrunk
Begun developing major data center projects inside the kingdom
Humain’s ambitions are vast: it’s targeting around 6 gigawatts of data center capacity by 2034, placing it among the world’s largest AI infrastructure players.
Opening the Door to Global Investors
Beyond bricks and servers, the agreement also points to a broader financial vision.
Infra and Humain plan to explore the creation of an AI data center investment platform, jointly anchored by the two entities. The goal is to attract global and local institutional investors, giving them a structured way to back Saudi Arabia’s AI expansion.
If successful, the platform could funnel international capital directly into the kingdom’s digital transformation — accelerating growth while sharing risk.
Why This Deal Matters
This $1.2 billion announcement isn’t just another infrastructure project. It signals:
Saudi Arabia’s intent to compete in the global AI arms race
A shift from resource-based wealth to compute-driven economic power
A long-term play to make AI a pillar of national growth
As energy once fueled the industrial age, data and computing power are fueling the AI era — and Saudi Arabia wants to be at the center of it.
The Bottom Line
With oil revenues funding massive investments in artificial intelligence, Saudi Arabia is attempting one of the most ambitious economic pivots in modern history.
If Humain’s plans materialize, the kingdom won’t just export energy — it will export intelligence, infrastructure, and digital capacity to the world.