Saudi Arabia, through its state-backed AI entity Humain, is significantly advancing its position in the global AI landscape. Chaired by Crown Prince Mohammed bin Salman and supported by the $940 billion Public Investment Fund (PIF), Humain is launching a $10 billion venture capital fund, Humain Ventures, this summer. This initiative is a key component of Saudi Arabia's Vision 2030, which aims to diversify the economy and establish the Kingdom as a global AI hub.
Humain Ventures will focus on investing in startups across the US, Europe, and Asia, leveraging Saudi Arabia's financial resources to secure a central role in the AI industry. CEO Tareq Amin has confirmed ongoing discussions with major US tech firms, including OpenAI, Elon Musk's xAI, and venture capital firm Andreessen Horowitz, regarding potential equity partnerships. Humain aims to handle 7% of the world's AI training and inferencing workloads by 2030.
In addition to investments, Humain plans to establish 1.9 gigawatts (GW) of data center capacity by 2030, scaling up to 6.6 GW by 2034, with an estimated investment of $77 billion. Riyadh is offering electricity subsidies to encourage these projects. This comprehensive strategy aims to position Saudi Arabia as a key player in the rapidly growing AI industry.