Humain planning $10B VC fund to invest in US, European, and Asian startups
Humain, the state-owned AI company from Saudi Arabia, is on track to launch a $10 billion venture fund, Humain Ventures, that will invest in startups in the U.S., Europe, and Asia, the Financial Times reported, quoting Tareq Amin, Humain's CEO.
Humain is in talks with U.S. firms like Andreessen Horowitz, OpenAI, and Elon Musk's xAI about its plans and is also exploring a deal with U.S. companies to sell an equity stake in its data center business, the report said.
Amin did not reveal which companies these are but said some are "massive names in the data center segment," according to the report.
Humain was launched earlier this month ahead of a visit by U.S. president Donald Trump and several tech industry allies. Under a new Trump administration initiative, U.S. tech suppliers, including Nvidia and AMD, have been allowed to arrange deals with Saudi Arabian firms.
So far, Humain has struck deals with Qualcomm, Nvidia, AMD, and Amazon and plans to have 1.9 gigawatts of data center capacity by 2030. The plan is to process 7% of global AI training and inferencing by 2030, and the endeavor is expected to cost about $77 billion, the FT quoted Amin as saying.
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