PIF-backed HUMAIN secures $667 million for Saudi AI infrastructure expansion

Saudi Arabia’s National Infrastructure Fund (Infra) and HUMAIN, a Public Investment Fund (PIF) company, have signed two financing agreements worth up to $667 million (SAR 2.5 billion) to support the expansion of artificial intelligence (AI) infrastructure in the Kingdom.

The agreements, signed on November 8 in Riyadh, aim to accelerate the deployment of AI computing and develop the power infrastructure needed to support data centers across Saudi Arabia.

The signing took place in the presence of Yasir Al-Rumayyan, Governor of PIF; Faisal bin Fadhil Alibrahim, Minister of Economy and Planning and Chairman of Infra’s Board of Directors; and Abdulaziz Alarifi, Governor of the National Development Fund.

The agreements mark the first transactions under Infra’s AI Data Center Financing Program, building on a financing framework announced by Infra and HUMAIN at Davos in January 2026. The earlier framework outlined non-binding financing terms of up to $1.2 billion (SAR 4.5 billion) for AI and digital infrastructure projects in the Kingdom.

Under the new agreements, a financing facility worth up to $293.3 million (SAR 1.1 billion) will support the procurement and deployment of graphics processing units (GPUs), representing approximately 25 megawatts (MW) of IT load.

A second facility of up to $373.3 million (SAR 1.4 billion) will finance substations, transmission infrastructure, and grid connections to support HUMAIN’s AI data centers.

The planned power infrastructure is designed to support future data center development with up to one gigawatt (GW) of IT capacity, creating opportunities for investment from developers, hyperscalers, and institutional investors.

Esmail bin Mohammed Alsallom, CEO of Infra, said the agreements aim to attract additional investment beyond the fund’s financial commitments and to prepare more data center projects for development.

“Our role is to strengthen project readiness and bankability, with commercial viability and economic value guiding how we deploy our capital,” he said.

He added that the partnership would help develop an infrastructure financing market capable of attracting private and institutional capital to support the growth of Saudi Arabia’s AI sector.

Tareq Amin, CEO of HUMAIN, highlighted the importance of expanding both computing capacity and the infrastructure needed to support it.

“AI infrastructure is becoming foundational to the next generation of computing, and scaling it requires both significant investment and the infrastructure to support it,” he said.

He added that the financing would accelerate the deployment of advanced computing capabilities while supporting HUMAIN’s development of AI technologies and platforms for organizations globally.

The agreements form part of broader efforts to expand Saudi Arabia’s AI infrastructure, strengthen its digital capabilities, and attract private investment into the Kingdom’s growing technology sector.