Riyadh – Sharikat Mubasher: Saudi AI company Humain appointed Goldman Sachs as an advisor to arrange a financing package worth at least SAR20 billion ($5.3 billion) to support the development of data centers across the Kingdom, according to sources cited by Reuters.

The planned financing will help fund data centers and graphics processing units (GPUs) with a combined capacity of 2 gigawatts, representing nearly one-third of Human’s long-term infrastructure target through 2034. Most of the upcoming projects are expected to be located in the Riyadh region.

The move comes as Gulf countries intensify efforts to expand AI infrastructure and attract global technology firms. Saudi Arabia has been positioning itself as a regional AI hub, leveraging its competitive energy costs and ongoing investments in digital infrastructure to attract companies including Google, Microsoft, and Meta.

Humain’s expansion aligns with Saudi Arabia’s broader economic diversification strategy, which focuses on reducing reliance on oil through investments in technology, digital services, tourism, and advanced infrastructure.