Riyadh, Saudi Arabia – Reaffirming its ambition to become a global leader in Artificial Intelligence by 2030, Saudi Arabia announced a staggering $14.9 billion investment package at the LEAP 2026 technology conference this week. The investments focus on building hyperscale data centers, cloud computing infrastructure, and AI workforce development.
Strategic Partnerships Signed
The announcement included several high-profile agreements with global tech giants:
- Cloud Infrastructure: A $5 billion investment with AWS to launch an "AI Zone" dedicated to hosting sovereign data and providing high-performance computing power.
- AI Hubs: A partnership with Lenovo to establish a $2 billion R&D center in Riyadh focused on AI and robotics.
- Chip Manufacturing: A collaboration with Groq to develop specialized AI inference chips locally.
What This Means for Tech Investors
This massive liquidity injection signals immediate opportunities for companies in the digital infrastructure supply chain. From fiber optics and cooling systems to cybersecurity and software development, the ecosystem is expanding effectively overnight.
"We are not just buying technology; we are building the foundation for the next era of the global economy," stated the Minister of Communications and Information Technology (MCIT).
Incentives for Startups
Alongside the infrastructure news, the National Technology Development Program (NTDP) announced new grants for DeepTech startups that utilize this new infrastructure, covering up to 50% of cloud hosting costs for the first two years.