Humain, Saudi Arabia’s state-owned AI company, is set to launch a $10 billion venture fund named Humain Ventures to invest in startups across the U.S., Europe, and Asia.
Why it matters: This bold venture reflects a significant step in fostering international cooperation in the tech industry and highlights the growing importance of AI and data centers in global technological infrastructure.
The details:
- Humain is currently in discussions with prominent U.S. firms such as Andreessen Horowitz, OpenAI, and Elon Musk’s xAI regarding its plans.
- The company is exploring a potential deal with certain U.S. companies to sell an equity stake in its data center business.
- Humain has secured deals with Qualcomm, Nvidia, and AMD, and aims to reach 1.9 gigawatts of data center capacity by 2030.
- This ambitious plan is expected to account for 7% of global AI training and inferencing needs and will cost approximately $77 billion.
What they’re saying:
- “We are in discussions with all of them,” Humain CEO Tareq Amin confirmed, highlighting that some interested parties are prominent names within the data center industry.
The venture was announced during US President Donald Trump’s recent state visit to Riyadh, which aimed to secure significant investment deals and was attended by top executives such as Elon Musk and Nvidia CEO Jensen Huang.
The big picture: Saudi Arabia is making significant moves to position itself as a key player in the global artificial intelligence industry, leveraging its substantial financial resources to become a global hub for AI innovation and implementation.
What’s next: The fund is expected to launch this summer and will focus on investing in startups across the US, Europe, and Asia.