#SaudiArabia #funding - Saudi Arabia’s National Infrastructure Fund (Infra) has signed two financing agreements worth up to SAR 2.5 billion ($667m) with HUMAIN, the Public Investment Fund (PIF) company building full-stack AI capabilities. One facility of up to SAR 1.1 billion ($290m) funds GPUs for roughly 25 megawatts (MW) of IT load. The other, up to SAR 1.4 billion ($370m), funds power infrastructure for data centres of up to 1 gigawatt (GW). The two deals are the first under Infra’s new AI Data Center Financing Program.
SO WHAT? - HUMAIN is building at a scale few countries outside Europe and North America can contemplate. The company plans to build 1 GW of data centre capacity by 2027 and a total of 6 GW by 2030. Chip agreements with AMD (worth $10 billion), Nvidia, Qualcomm, Cisco, xAI and Together AI sit behind that target. So, the deals financing of the 25 MW of GPUs announced today represent a relatively small percentage of HUMAIN’s overall target.
KEY POINTS:
The National Infrastructure Fund (Infra) and HUMAIN signed two financing agreements totalling up to SAR 2.5 billion ($667m). They support AI computing deployment and critical power infrastructure in Saudi Arabia.
The agreements were signed on 8 November in Riyadh. Present were Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF), Faisal bin Fadhil Alibrahim, Minister of Economy and Planning, and Abdulaziz Alarifi, Governor of the National Development Fund (NDF).
The GPU facility is worth up to SAR 1.1 billion ($293m). It will pay for the procurement and deployment of graphics processing units, representing approximately 25 MW of IT load.
The second facility, worth up to SAR 1.4 billion ($373m), is to finance substations, transmission infrastructure and grid connections for HUMAIN’s AI data centres.
The power infrastructure planned is designed to support future data centre capacity of 1 Gigawatt. Infra says this helps create conditions for investment by developers, hyperscalers and institutional investors.
These are the first transactions announced under Infra’s AI Data Center Financing Program. Infra’s chief executive says the fund’s role is to strengthen project readiness and bankability, guided by commercial viability.
The deals build on a framework Infra and HUMAIN announced at Davos in January 2026. That outlined non-binding financing terms of up to SAR 4.5 billion ($1.2 billion) for AI and digital infrastructure projects.
The two new facilities total SAR 2.5 billion, about 56% of the SAR 4.5 billion Davos framework. That leaves up to SAR 2 billion of the earlier non-binding terms not yet covered by signed agreements.
ZOOM OUT - HUMAIN’s financing has moved in steps this year. In January, at Davos, it agreed non-binding terms of up to $1.2 billion with Infra for up to 250 MW of data centre capacity, and the two agreed to explore an AI data centre investment platform for institutional investors. In September, Bloomberg reported that HUMAIN wants to raise $2.5 billion for a data centre fund managed by Riyadh-based BSF Capital, pending regulatory approval. HUMAIN has not confirmed that figure. The November agreements turn part of the Davos framework into signed facilities.
[Written and edited with the assistance of AI]
Source: HUMAIN
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HUMAIN plans 27,000 NVIDIA GPUs across 84MW (Middle East AI News)
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