HUMAIN, the Saudi artificial intelligence firm backed by the Public Investment Fund (PIF), is preparing to launch a $10 billion venture capital fund this summer, positioning the Kingdom as a major force in the global AI industry.

CEO Abdullah bin Sharaf Al-Ghamdi announced that the fund, HUMAIN Ventures, will target high-potential AI startups in the US, Europe, and Asia.

HUMAIN’s strategy includes plans to establish 1.9 gigawatts of data center capacity by 2030, scaling up to 6.6GW by 2034. A 50-megawatt facility using 18,000 Nvidia chips is already in development and expected to go live next year.

Since its May launch, HUMAIN has inked $23 billion in deals with top US tech players, including Nvidia, AMD, Amazon Web Services, and Qualcomm. CEO Al-Ghamdi confirmed ongoing talks with OpenAI, Elon Musk’s xAI, and Andreessen Horowitz on potential equity partnerships.

HUMAIN also announced a $10 billion joint venture with AMD to build 500MW of capacity over five years, alongside a $2 billion agreement with Qualcomm to establish a chipset design center.

As part of its broader AI vision, HUMAIN aims to account for 7% of global AI model training by 2030, focusing on both development and inference. Chip procurement from US suppliers is expected to begin within 30 days.

These developments coincide with expected changes to U.S. export rules, as the Trump administration considers easing AI chip restrictions, potentially streamlining supply chains for Saudi projects.

HUMAIN’s launch supports Vision 2030, aiming to spur local innovation and attract global talent. The company has also pledged real-time data audits and compliance with international privacy laws under new legislation introduced in Riyadh.

“Every partnership has been deliberate,” said Al-Ghamdi. “We’re building for scale—and for trust.”