Saudi: LEAP 2025 continues groundbreaking deals with over $7.5bln in tech, AI investments
Riyadh: The global tech event LEAP 2025 witnessed a series of groundbreaking investments exceeding $7.50 billion in data centers, submarine, and fiber-optic cable networks.
These investments are focused on enhancing digital infrastructure and promoting innovation in AI, further establishing Saudi Arabia as a regional hub for technology and innovation, according to a press release.
DataVolt, in collaboration with NEOM, announced a significant investment of $5 billion to establish the first fully sustainable AI data center in OXAGON, with a capacity of 1.5 GW. This cutting-edge facility aims to become a global hub for advanced computing and innovation.
Alfanar revealed a $1.40 billion investment to develop four data centers, with a total capacity of 88 MW. This initiative will support the growth of the digital economy and the development of business solutions in Saudi Arabia.
In a strategic initiative to improve the Kingdom's digital infrastructure, Etihad Etisalat Company (Mobily) committed $911 million to develop key projects, including submarine cable networks and advanced data centers.
During the LEAP 2025 event in Riyadh, the listed telecom company also entered into agreements with Ericsson through a memorandum of understanding (MoU) as well as Vodafone Business IoT, a subsidiary of the global Vodafone Group, to provide high-quality IoT connectivity services Saudi Arabia.
In addition, Zoom has pledged $75 million to drive AI innovation and establish new data centres, strengthening support for tech enterprises and government entities, which will further fuel digital expansion in the region.
Saudi Arabia Railways has announced a $51 million investment in a private fiber-optic network aimed at enhancing digital connectivity and expanding the country's communications infrastructure.
In addition, SkyFive has highlighted Saudi Arabia's growing role as a regional hub for technological innovation by unveiling a $100 million investment in non-terrestrial network services. This will focus on pioneering Advanced Air Mobility solutions and driving innovation in this field.
Also, HPE announced the expansion of 'Made in KSA' in the region, and the localisation of HPE Aruba solutions to enhance infrastructure with security-first and AI-powered networking.
It is worth noting that during the four-day event, several investment funds unveiled their joint plan to invest $695 million across different tech and AI channels.
Earlier on the first day of the LEAP 2025 leading platform, Saudi and international companies announced combined investments worth $14.85 billion.
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