AI Set to Contribute $130 Billion to Saudi Economy by 2030
Saudi Arabia is strategically positioning itself as a global AI hub, with projections indicating that AI will massively shape the Saudi Digital Economy Trends, contributing $130 billion to the nation’s GDP by 2030. The country’s investments in AI, cloud infrastructure, and digital innovation align with its Vision 2030 goals, which emphasize diversification beyond oil.
The Public Investment Fund (PIF) has spearheaded numerous initiatives, including the recent launch of HUMAIN, a Saudi-backed AI firm set to dominate model training and inference markets. With Saudi’s sovereign wealth fund fueling $600 billion in overall tech-related investments, the nation is rapidly transforming into an AI powerhouse.
HUMAIN Ventures to Invest $10 Billion in Global AI Startups
Saudi Arabia is expanding its reach beyond national AI development by launching HUMAIN Ventures, a $10 billion fund dedicated to investing in U.S., European, and Asian AI startups. This initiative aims to strengthen Saudi’s influence in the global tech ecosystem while fostering innovation at home.
The Saudi Data and Artificial Intelligence Authority (SDAIA) estimates that AI-driven innovation could create 98 million jobs globally by 2025. Saudi Arabia is leveraging its financial capabilities to cultivate a skilled AI workforce while forming strategic alliances with tech giants such as Nvidia, AMD, and OpenAI.
Also Read: HUMAIN and $100B AI Push: Saudi Arabia’s Next Big Bet
$600 Billion Investment in AI and Digital Infrastructure
As part of Saudi Arabia’s ambitious digital transformation, the government has committed $600 billion to projects spanning cloud computing, AI data centers, and digital innovation. The largest initiative includes $20 billion from Saudi firm DataVolt, which will establish AI data centers across the U.S. and the Kingdom.
The partnership with Amazon Web Services (AWS) and HUMAIN further enhances Saudi Arabia’s global AI presence. AWS has pledged $5 billion to develop AI zones in Riyadh, integrating advanced UltraCluster networks and AI-powered applications into national industries such as healthcare, energy, and government administration.
Saudi Arabia’s AI Data Center Expansion to Reach 6.6GW by 2034
Saudi Arabia is aggressively scaling its AI infrastructure, with plans to reach 6.6 gigawatts (GW) of data center capacity within the next four years. HUMAIN’s first AI park will launch a 50-megawatt facility powered by 18,000 Nvidia GPUs to support AI model training at scale.
The initiative is part of a broader effort to ensure the Kingdom secures at least 7% of global AI model training by 2030. Future expansion aims to establish 500MW of additional capacity, backed by Qualcomm’s $2 billion chipset design initiative in Riyadh.
Saudi Startups Secure $750M in AI-Driven VC Funding in 2024
Saudi Digital Economy Trends by a thriving startup ecosystem, with AI-driven investments securing $750 million in venture capital funding in 2024. AWS and HUMAIN are collaborating to boost Saudi’s AI-powered startup sector through programs like AWS Activate, equipping entrepreneurs with AI-enabled cloud solutions.
With PIF’s HUMAIN Ventures launching its $10 billion AI fund, Saudi Arabia is rapidly evolving into a technology and AI investment powerhouse, bridging the gap between local innovation and global market expansion.
Also Read: How to Spot Consumer Trends in Saudi Arabia Using AI & Analytics
