Humain to Launch $2.5 Billion Fund for Saudi Data Center Projects, Bloomberg Reports

Artificial intelligence firm Humain intends to raise an initial $2.5 billion for a fund dedicated to developing data centers in Saudi Arabia, according to a Bloomberg report citing people familiar with the matter. The move signals a significant step in the kingdom's strategy to build out critical infrastructure for its growing AI ambitions.

Project Scope and Financing

The new fund is set to finance the construction of 250 megawatts (MW) of data center capacity. This development is part of a partnership between Humain and Al Moammar Information Systems Co. Sources cited in the report indicated that the capacity could eventually expand to as much as 1 gigawatt (GW).

Financing for the fund will be structured as a mix of debt and equity, sourced from both global and domestic investors. The plan's details follow an earlier announcement by Humain CEO Tareq Amin about establishing a fund, though he did not disclose its potential size at the time.

Management and Timeline

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Saudi investment bank BSF Capital has been tapped to manage the fund, according to the report. BSF Capital is expected to begin approaching potential investors after securing approval from the country's Capital Market Authority, a process that could take approximately two to three months.

Context: Saudi Arabia's AI Push

This initiative is the latest development in Saudi Arabia's aggressive push to become a global hub for artificial intelligence, a national effort largely driven by the Public Investment Fund (PIF), which backs Humain. The construction of large-scale data centers is foundational to supporting the immense computational power required for advanced AI models and applications.

For investors, this fund represents a direct channel to participate in the build-out of the digital infrastructure underpinning the kingdom's economic diversification goals. The scale of the investment underscores the capital-intensive nature of competing in the global AI race.