HUMAIN, an artificial intelligence company owned by Public Investment Fund (PIF), which is Saudi Arabia’s sovereign wealth fund, has announced a Strategic Financing Framework Agreement of up to US$ 1.2 billion with the National Infrastructure Fund (“Infra”), which is the Kingdom’s lead development financing partner, for developing AI and digital infrastructure projects across the Kingdom. The announcement was made on the sidelines of the World Economic Forum (WEF) that is being held in Davos, Switzerland.
In a press release, HUMAIN said that the Framework Agreement outlines non-binding financing terms for HUMAIN’s development of up to 250 MW of hyperscale AI data center capacity. These data centers will deploy GPUs for AI training and inference and support HUMAIN’s local, regional and global customers.
“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, HUMAIN.
“Today’s Framework Agreement is an important step in expanding Infra’s role of unlocking infrastructure investment opportunities in the Kingdom. Our partnership with HUMAIN will activate new pathways to grow institutional investment and develop the digital economy through enabling AI infrastructure,” said Eng. Ismael Alsallom, CEO, Infra.
In addition, Infra and HUMAIN have agreed to explore the establishment of an AI data center investment platform. This would be anchored by the two organizations and structured to facilitate participation by global and local institutional investors to support further scaling of HUMAIN’s AI strategy.
