Humain, Saudi Arabia’s state-backed artificial intelligence company, plans to launch a venture capital fund to support the country’s goal of becoming an AI superpower.
The Humain Ventures fund will be set up this summer with $10 billion to invest in startups across the US, Europe and Asia, Tareq Amin, CEO of Humain, told the Financial Times.
The AI company, which is backed by the Public Investment Fund and was announced two weeks ago as President Donald Trump arrived in Riyadh, is in talks with US companies including OpenAI, xAI and Andreessen Horowitz, according to Amin.
Humain aims to develop advanced AI infrastructure, including next-generation data centres, cloud platforms and large-scale Arabic language models. Crown Prince Mohammed bin Salman will chair the company.
Humain has already signed deals worth $23 billion with US technology groups, including Nvidia, AMD, Amazon Web Services and Qualcomm, the FT reported.
Amin said he wants a US tech group to become an equity partner in Humain’s data centre business, but did not name any of the companies it is talking to.
Humain plans to build 1.9 gigawatts of data centre capacity by 2030, growing to 6.6GW by 2034. This would cost $77 billion at current prices, Amin told the newspaper.
The first phase of its data centre plans will start with a 50-megawatt plant using 18,000 Nvidia chips.
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