Saudi Arabia’s national AI company HUMAIN plans to raise $2.5 billion from global and domestic investors for a fund focused on data centre projects in the kingdom, Bloomberg reported, citing people familiar with the matter.
The fund would help finance 250 megawatts of data centre capacity that HUMAIN is developing. Riyadh-based investment bank BSF Capital is expected to manage it and approach investors after receiving approval from Saudi Arabia’s Capital Market Authority. The financing could combine debt and equity.
HUMAIN has signed a 12-month data centre design and construction contract worth an estimated $501 million with Riyadh-based technology company Al Moammar Information Systems. The project is part of the company’s plan to bring 1GW of data centre capacity online by 2027.
HUMAIN CEO Tareq Amin confirmed plans to launch a fund during LEAP 2026 but did not disclose its size, according to the announcement.
The proposed vehicle follows financing of up to $1.2 billion from Saudi Arabia’s National Infrastructure Fund for up to 250MW of AI data centre capacity. HUMAIN is also developing a wider 6GW hyperscale AI data centre network across Saudi Arabia.
Source: Middle East AI News
