Riyadh – Sharikat Mubasher: Saudi Arabia’s AI company Humain, owned by the kingdom’s Public Investment Fund (PIF), is preparing to launch a $10 billion venture capital fund this summer, according to CEO Tareq Amin in an interview with the Financial Times.

The fund will target startups across the U.S., Europe, and parts of Asia, with the goal of accelerating the kingdom’s global ambitions in artificial intelligence.

Amin revealed that Humain is in talks with major U.S. tech players, including OpenAI, Elon Musk’s xAI, and venture capital firm Andreessen Horowitz. While he did not name the company likely to become a key data center partner, Amin said discussions are underway with several major players, hinting that an announcement is imminent.

Backed by $23 billion in signed agreements with U.S. tech giants such as Nvidia, Qualcomm, Amazon Web Services, and AMD, Humain is also advancing a mega data center project.

The facility, in partnership with Nvidia, will launch with 500 megawatts of capacity and aims to reach 6.6 gigawatts by 2034. Estimated costs currently stand at $77 billion.

The launch of Humain was announced by Crown Prince Mohammed bin Salman earlier this month as part of Saudi Arabia’s broader AI strategy.