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$580 million worth of new investments announced at LEAP on Day 3

It includes the opening of a data center and tech academies.

$580 million worth of new investments announced at LEAP on Day 3
[Source photo: Fast Company Middle East Staff]

On Day 3 at LEAP 2023, a slew of new investments and funding initiatives across different sectors were announced, totaling $580 million. This came after more than $9 billion in investments were made public on Monday.

The new investments include opening a new data center and two tech academies to promote and nurture local talent.

It all goes to show the importance of LEAP23 in achieving the goals of Saudi Arabia’s Vision 2030.

Ignite, a program within the Saudi Digital Content Council, unveiled a number of projects, finance programs, and private sector partnerships totaling $170 million.

Meanwhile, Wipro also disclosed investments totaling $110 million to grow its cloud studio service, create digital healthcare solutions, and promote the advancement of regional talent.

While Unity, a global platform for game production, announced the opening of its first regional academy and a center for creating video games in collaboration with the MCIT, Amazon announced the opening of its first regional academy in cloud computing and AI to train over 30,000 talents,

Further, IT services company Zoho announced plans to encourage Saudi startups assisting the nation’s digital transformation by allocating $300 million over the following ten years as a portfolio balance.

After entering the data center market in 2021, DAMAC Group announced the extension of investments in data centers in the kingdom. These facilities will be Riyadh and Dammam, and go live before the end of 2023. The company announced a further 35 megawatts IT capacity will be built in addition to the 20 megawatts already under construction.

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