Saudi Arabia attracts $14.9bln investments in AI as LEAP25 kicks off in Riyadh
RIYADH — Investments and projects worth over $14.9 billion were announced in the artificial intelligence sector, solidifying Saudi Arabia's role as a key global player in shaping the digital future. The announcements were made on the first day of the LEAP 2025 Tech Conference at the Riyadh Exhibition and Convention Center on Sunday.
Inaugurating the conference, Minister of Communications and Information Technology Abdullah Alswaha announced the huge investments.
The conference, which runs until Wednesday, is being held under the theme "Into New Worlds." The fourth edition of the conference brought together global technology and innovation leaders to reinforce Saudi Arabia's position as a primary hub for digital transformation and an attractive destination for tech investments.
LEAP 2025 underscores Saudi Arabia's commitment to leading the global AI sector, attracting top-tier technology investments, and cementing its position as a hub for digital transformation and technological innovation.
In his keynote speech, Alswaha emphasized that these significant investments and initiatives were made possible through the support and empowerment of Crown Prince and Prime Minister Mohammed bin Salman. These initiatives aimed to enable the technology sector and accelerate Saudi Arabia's transition toward an innovative and sustainable AI-driven economy, in line with Vision 2030 objectives.
Al-Swaha said that the region is witnessing rapid transformations in the digital economy sector, as it has grown by 73 percent to reach $260 billion, with Saudi Arabia accounting for 50 percent of this growth, making it one of the leading countries in this field. The number of technical specialists has increased from 150,000 to 381,000, reflecting Saudi Arabia's rapid growth in the fields of technology and innovation.
Al-Swaha highlighted the importance of bridging the digital gap between nations during what has become known as the 'smart era,' and explained the role the Kingdom plays in empowering women in the field of technology. 'In the smart era, the gap between the Global North and South will grow and worsen, as only one to two billion people are expected to join this exclusive club, while 6.5 billion people will be left behind by 2030.'
At the conference, Minister of Human Resources and Social Development Ahmed Al-Rajhi launched a range of digital products and services to accelerate digital transformation within the ministry and improve service quality for beneficiaries. The minister stressed that these products and services align with the ministry's digital transformation strategy, which seeks to achieve the objectives of the Saudi Vision 2030 by enhancing digital services, ensuring secure and innovative access for beneficiaries, and fostering technology and innovation in the Kingdom.
The newly introduced digital products include the "Virtual Branch," the "Digital Platform for Childcare," and the "Social Development Platform," all designed to promote sustainable development. These initiatives aim to eliminate the need for in-person branch visits, encourage community participation, and expand the range of services available to individuals and government entities in the sector.
Among the $14.9 billion investments announced in the AI sector at the conference, are qualitative investments of more than $10.9 billion allocated to infrastructure, artificial intelligence, and initiatives supporting emerging companies. These investments are designed to empower digital skills development, foster the growth of tech startups, and enhance innovation in Saudi Arabia. They further establish the Kingdom as a hub for technology and innovation, positioning it as an attractive environment for leading global technology companies and reinforcing its status as the largest digital economy in the Middle East and North Africa (MENA) region.
LEAP 2025 is organized by the Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP), and Tahaluf Company, supported by the Events Investment Fund.
The first day of the event witnessed the announcement of several major investments and projects in artificial intelligence, cloud computing, and digital transformation, including; Groq & Aramco Digital announced a $1.5 billion investment to expand AI-powered cloud computing, positioning Saudi Arabia as a global leader in artificial intelligence.
Alat & Lenovo confirmed a $2 billion investment to establish an advanced AI and robotics-based manufacturing and technology center in Saudi Arabia and to open Lenovo's regional headquarters in Riyadh. Google unveiled plans for an AI infrastructure investment, launching a global AI hub in Saudi Arabia to meet regional and international demand.
Qualcomm introduced the ALLaM language model on the Qualcomm AI Cloud, alongside the launch of the ALLaM AI PC, enabling cloud-based AI solutions for developers and accelerating technological innovation. Alibaba Cloud launched an AI empowerment program in Saudi Arabia, in collaboration with Tuwaiq Academy and STC, to train local talent in advanced technologies and contribute to building a sustainable digital future.
Databricks committed $300 million in Platform-as-a-Service (PaaS) solutions, supporting app developers and fostering data engineering and AI expertise to boost Saudi Arabia's digital economy. SambaNova pledged $140 million to develop advanced AI infrastructure in Saudi Arabia, reinforcing the Kingdom's role as a regional innovation hub.
KKR & Gulf Data Hub announced a major investment in Saudi Arabia's data center development, with a total capacity of up to 300 megawatts, enhancing cloud computing and AI capabilities. Salesforce committed $500 million to expand its Hyperforce platform, serving its regional customers from Saudi Arabia. Tencent Cloud pledged a $150 million investment to establish its first cloud region in the Middle East, launching from Saudi Arabia with integrated AI capabilities.
© Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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