In a bold move to cement its position as a global leader in artificial intelligence, Saudi Arabia has announced the launch of a $10 billion venture capital fund through its state-owned AI company, Humain. Backed by the nation’s $940 billion Public Investment Fund (PIF), this initiative aims to foster innovation and partnerships with leading tech firms worldwide.
Strategic Partnerships and Investments
Humain is actively engaging with major U.S. tech entities, including OpenAI, Elon Musk’s xAI, and venture capital firm Andreessen Horowitz, to attract investment and collaboration. The company has already committed $23 billion in deals with industry giants such as Nvidia, AMD, Amazon Web Services (AWS), and Qualcomm.
These strategic alliances are part of Humain’s broader vision to develop one of the world’s most extensive AI data infrastructures, targeting a capacity of 6.6 gigawatts by 2034. The infrastructure is projected to cost approximately $77 billion and aims to handle 7% of global AI training and inference workloads by 2030.
Advancements in AI Hardware and Compliance
To support its ambitious infrastructure goals, Humain is pursuing significant investments in AI hardware. Notably, the company has initiated a $10 billion joint project with AMD and a $2 billion initiative with Qualcomm, which includes establishing a chip design center in Riyadh.
Addressing concerns over data privacy and international compliance, Humain has pledged to implement real-time data auditing and adhere to global data sovereignty standards. This commitment underscores the company’s dedication to ethical AI development and international regulatory alignment.
Saudi Arabia’s Vision for a Diversified Economy
The establishment of Humain and its substantial investments in AI reflect Saudi Arabia’s strategic shift towards a diversified, knowledge-based economy. As the nation seeks to reduce its reliance on oil revenues, initiatives like this signify a commitment to embracing cutting-edge technologies and fostering innovation on a global scale.
