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Arabian Business
10-02-2025
- Business
- Arabian Business
LEAP 2025: Saudi technology event sees $15bn of AI deals in one day
A major Saudi technology event witnessed almost $15bn of AI deals in just one day, as the Kingdom continues to establish itself as a hub for the rapidly growing industry. LEAP 2025 officially launched in Riyadh, bringing 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. On the first day of the event, investments and projects worth over $14.9bn ($bn) in the artificial intelligence sector were announced, solidifying the Kingdom's role as a key global player in shaping the digital future. AI in Saudi Arabia 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. The announcement was made during the keynote address by Minister of Communications and Information Technology Abdullah Alswaha, as the conference, which runs until Wednesday, commenced under the theme 'Into New Worlds.' Minister Alswaha emphasised that these significant investments and initiatives were made possible through the support and empowerment of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister. These initiatives aim 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. LEAP 2025 is organised by the Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP), and Tahaluf Company—a joint venture between SAFCSP and Informa PLC, 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 and Aramco Digital announced a $1.5bn investment to expand AI-powered cloud computing, positioning Saudi Arabia as a global leader in artificial intelligence. Alat and Lenovo confirmed a $2bn investment to establish an advanced AI and robotics-based manufacturing and technology centre 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 $300m 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 $140m to develop advanced AI infrastructure in the Kingdom, reinforcing its role as a regional innovation hub. KKR and Gulf Data Hub announced a major investment in Saudi Arabia's data centre development, with a total capacity of up to 300 megawatts, enhancing cloud computing and AI capabilities. Salesforce committed $500m to expand its Hyperforce platform, serving its regional customers from KSA. Tencent Cloud pledged a $150m investment to establish its first cloud region in the Middle East, launching from Saudi Arabia with integrated AI capabilities.
Gulf Business
09-02-2025
- Business
- Gulf Business
LEAP 2025 launches in Riyadh, unveiling $14.9bn in AI investments
Image: Saudi Press Agency LEAP 2025, a flagship event bringing together global technology and innovation leaders, officially launched in Riyadh on Sunday, February 9. On the first day of the conference, investments and projects totaling over $14.9bn in the artificial intelligence (AI) sector were announced, the Saudi Press Agency reported. These major investments solidify Saudi Arabia's position as a leading global player in shaping the digital future. The investments aim to foster digital skills development, support the growth of tech startups, and encourage innovation within the kingdom. They further solidify Saudi Arabia's standing as the largest digital economy in the Middle East and North Africa (MENA) region, creating a thriving environment for global tech companies. The announcement was made during the keynote address by Abdullah Alswaha, Minister of Communications and Information Technology. LEAP 2025 positions Saudi Arabia as a tech leader As 'Into New Worlds', Minister Alswaha highlighted that these investments and initiatives were made possible through the support of the Crown Prince and Prime Minister of Saudi Arabia, Prince Mohammed bin Salman bin Abdulaziz Al Saud. 'These initiatives are integral to empowering the technology sector and accelerating Saudi Arabia's transition towards an innovative, AI-driven economy,' said Alswaha. 'They are also aligned with the objectives of Vision 2030.' LEAP 2025 is organised by the Ministry of Communications and Information Technology, the Saudi Federation for Cybersecurity, Programming, and Drones (SAFCSP), and Tahaluf Company — a joint venture between SAFCSP and Informa, with support from the Events Investment Fund. Several high-profile investments were unveiled on the event's first day, including: Groq & Aramco Digital : A $1.5bn investment to expand AI-powered cloud computing, positioning Saudi Arabia as a global leader in AI. Alat and Lenovo : A $2bn investment to create an advanced AI and robotics-based manufacturing and technology centre in Saudi Arabia and establish Lenovo's regional headquarters in Riyadh. Google : Plans to launch a global AI hub in Saudi Arabia to meet regional and international demand through an AI infrastructure investment. Qualcomm : Introduction of the ALLaM language model on the Qualcomm AI Cloud, alongside the ALLaM AI PC, advancing cloud-based AI solutions. Alibaba Cloud : An AI empowerment program in partnership with Tuwaiq Academy and STC to train local talent and support a sustainable digital future. Databricks : A commitment of $300m in platform-as-a-service (PaaS) solutions to foster data engineering and AI expertise. SambaNova : A $140m pledge to enhance advanced AI infrastructure in Saudi Arabia. KKR and Gulf Data Hub : A major investment in Saudi Arabia's data centre development with a capacity of up to 300 megawatts. Salesforce : A $500m commitment to expand its Hyperforce platform in Saudi Arabia. Tencent Cloud : A $150m investment to establish its first cloud region in the Middle East, launching integrated AI capabilities from Saudi Arabia. Read:
