Latest news with #HUMAIN
Leaders
a day ago
- Business
- Leaders
Saudi Arabia: The Next Silicon Valley of the Middle East
Saudi Arabia is rapidly positioning itself as the Middle East's Silicon Valley, with a $40 billion AI investment push, aiming to transform the country into a competitive innovation hub. Consequently, it is attracting a large-scale influx of global talent as the Saudi government is partnering directly with global leaders in new-age tech to form the bedrock for local innovation. Institutional alignment, sovereign capital, and regulatory clarity make the country an execution-first environment for AI and Web3 startups. The Kingdom is making strategic moves to build its own AI infrastructure through sovereign initiatives like HUMAIN which ensure data sovereignty, strategic control, and scalable impact. Moreover, they align with national values and priorities, serving as a template for emerging economies. Experts believe this approach will help countries model their digital futures instead of outsourcing them. Johanna Cabildo, CEO of D-GN, noted, 'Saudi Arabia is building infrastructure, not just regulation.' When a government funds and deploys AI across ministries, oil giants, and smart cities, it creates demand signals, attracting private innovators, fostering a vibrant tech ecosystem. Cabildo cited Saudi Aramco's engagement with US-based droppGroup as a smart measure to power local innovation. Vision 2030: A Magnet for Global AI Builders Saudi Arabia's big AI push aligns with its 'Vision 2030,' turning the country into a magnet for global AI builders. Experts say Saudi Arabia is one of the few markets with both political will and economic scale to support the next wave of AI and Web3. The Saudi market is seeing a healthy combination of technological convergence and active support from local regulators. Jaspreet Bindra, Co-founder of AI&Beyond, praised the kingdom's future-facing approach. Cabildo emphasized that clear regulations and fast onboarding frameworks will attract founders and become a launchpad for global ventures. These ventures will focus on data sovereignty, digital identity, and decentralized intelligence. The Saudi Capital Market Authority has already issued over 80 tokenization licenses, signaling a push to innovate locally. Blockchain adds the transparency and ownership that AI needs, further enhancing the tech ecosystem. From Consumers to Producers of Innovation Saudi Arabia, along with countries like the UAE, is stepping out from being a consumer of innovation to becoming a global producer. This shift could turn the kingdom into the new center of gravity for AI, where capital, talent, and emerging technologies collide. Cabildo described Saudi Arabia's $40 billion AI push as more than an investment; it's a declaration of intent to build a unique ecosystem. Collaborations such as Saudi Aramco's mega AI and blockchain deal with droppGroup are expected to significantly impact traditional sectors. In the energy sector, AI can revolutionize operations with predictive maintenance, saving billions by preventing outages. Moreover, in logistics, AI-driven systems will streamline supply chains, cutting delays at ports like Jeddah. In education, AI will personalize learning, equipping students for a digital economy. The real transformation will be in the workforce, with Vision 2030's Human Capability Development Programme shifting workers from routine tasks to knowledge-driven roles. Deals like the Aramco-droppGroup collaboration fuel this shift, creating demand for data scientists, AI engineers, and innovation managers. These roles are critical to a diversified economy. With such moves, Saudi Arabia aims to generate thousands of tech jobs by 2030, reducing oil dependency. Short link : Post Views: 13
Globe and Mail
2 days ago
- Business
- Globe and Mail
‘On the Road to $5 Trillion,' Says Top Investor About Nvidia Stock
Nvidia (NASDAQ:NVDA) stock continues its steady climb – up 45% from April's low – supported by easing tariff concerns and the company's dominant position in the AI data center space. With analysts projecting a 66% year-over-year revenue surge, expectations are high as Nvidia gets set to report its FY 2026 Q1 earnings after today's market close. Confident Investing Starts Here: Among the potential catalysts for continued growth is Nvidia's newly announced partnership with Saudi Arabia's HUMAIN. This collaboration involves the construction of AI factories in Saudi Arabia, powered by Nvidia's advanced GPUs, including an initial deployment of 18,000 GB300 Grace Blackwell AI superchips. These facilities are designed to provide the infrastructure necessary for training and deploying AI models at scale. As the Kingdom pursues its ambitions to become a global AI leader, this collaboration could open up new opportunities for Nvidia in emerging markets. At the same time, Nvidia's push into physical AI is catching the eye of top investors. One such investor, known by the pseudonym KM Capital, sees this trend as a key growth frontier for the chipmaker. 'Nvidia is striving to get a first-mover advantage in this potentially explosive market as the company expands its 'real-world AI' ecosystem via collaborations,' explains the 5-star investor, who is among the top 4% of TipRanks' stock pros. To that end, Nvidia is actively pursuing partnerships in the automotive sector, having inked deals with GM, Uber, and Volvo, among others. Looking long-term, the investor cites a Morgan Stanley research report that predicts robotic humanoids will represent a $5 trillion market by 2050. That does not mean that generative AI is losing any momentum in the here and now, as competition continues to heat up. As evidence, the investor points out that most IT spending in the next twelve months is expected to be in the AI/ML category. The fact that Taiwan Semiconductor just raised prices is a further demonstration that Nvidia and its AI contemporaries are sitting pretty, argues the investor. 'This is a bullish indicator for the entire industry, because the ability to exercise pricing power means that the demand is soaring,' adds KM. Looking ahead, KM projects Nvidia can maintain a 7% constant growth rate, which, by his calculations, puts a $5 trillion market cap within reach. 'I am absolutely confident that Nvidia is significantly undervalued, which makes the stock a no-brainer 'Strong Buy,'' concludes KM (To watch KM Capital's track record, click here) Wall Street feels very strongly about Nvidia as well. With 32 Buy, 4 Hold, and 1 Sell recommendations, Nvidia enjoys a Strong Buy consensus rating. Its 12-month average price target of $164.21 would yield gains of ~20% in the year ahead. (See NVDA stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Asharq Al-Awsat
3 days ago
- Business
- Asharq Al-Awsat
HUMAIN's CEO: We Will Launch $10 Billion Venture Capital Fund
HUMAIN, Saudi Arabia's new AI start-up backed by the Public Investment Fund (PIF), will launch a $10 billion venture capital fund as part of the kingdom's efforts to become a global AI leader, the company's CEO, Tareq Amin, told the Financial Times (FT) on Wednesday. Amin said HUMAIN will launch its fund this summer and will focus on investing in start-ups in the US, Europe and Asia. HUMAIN is now looking for a US tech company to become an equity partner in its data center business, he said, adding that the company was in talks with OpenAI, venture capital firm Andreesen Horowitz and Elon Musk's xAI. Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, launched HUMAIN one day prior to US President Donald Trump's recent state visit to Riyadh. The President was accompanied by top executives including Elon Musk, OpenAI CEO Sam Altmer and Nvidia chief executive Jensen Huang. HUMAIN has already struck deals with Nvidia, AMD, Amazon Web Services and Qualcomm worth $23 billion, according to Amin. He said the company aims to have 1.9GW of data center capacity by 2030, increasing to 6.6GW by 2034. The project's cost is estimated at $77 billion. 'The plan is to process 7% of global AI training and inferencing by 2030,' the FT quoted Amin as saying. Initial plans include a 50MW data center using 18,000 Nvidia GPUs, with expansion to 500MW requiring approximately 180,000 chips. HUMAIN has also partnered with AMD on a $10 billion joint venture to provide 500MW of capacity over five years. It is investing $2 billion with Qualcomm to co-develop chip design and data center capabilities. Under the deal, Qualcomm will establish a chip design center in Riyadh employing 500 engineers. Amin said that within 30 days, HUMAIN will begin the procurement process for chips from US companies. The CEO is hopeful that the sales will be supported by the Trump administration.
Arab News
4 days ago
- Business
- Arab News
PIF's HUMAIN to launch $10bn AI fund in global tech push
RIYADH: HUMAIN, Saudi Arabia's artificial intelligence startup backed by the Public Investment Fund, is set to launch a $10 billion venture capital fund this summer as part of the Kingdom's ambitious push to become a global AI hub, the company's CEO has revealed. In an interview with the Financial Times, CEO Tareq Amin said the new fund—HUMAIN Ventures—will target startups across the US, Europe, and parts of Asia, leveraging Saudi Arabia's financial strength to assert influence in the rapidly evolving AI industry. The initiative aligns with projections from the Saudi Data and Artificial Intelligence Authority, which estimate that AI will contribute $15.6 trillion to the global economy by 2030 and create 98 million jobs by 2025. HUMAIN's expansion strategy includes establishing 1.9 gigawatts of data center capacity by 2030, with plans to scale up to 6.6GW within four years. 'HUMAIN is seeking to use Saudi Arabia's financial might to gain a central role in almost every aspect of the burgeoning AI industry — from investing, infrastructure, and chip design. That sprawling strategy is unmatched outside a handful of US and Chinese Big Tech companies, which have had years, if not decades, to build their businesses and technical expertise,' the company said in a statement. 'US tech firms increasingly view Gulf states and their powerful sovereign wealth funds as critical sources of investment, with American tech executives in talks with regional officials about investments and raising capital,' it added. Amin confirmed ongoing discussions with prominent US tech players, including OpenAI, Elon Musk's xAI, and venture capital firm Andreessen Horowitz, regarding potential equity partnerships. HUMAIN was launched in early May, just before US President Donald Trump's visit to Riyadh, an event attended by major tech leaders such as Musk, OpenAI CEO Sam Altman, and Nvidia's Jensen Huang. Since its launch, HUMAIN has signed deals worth $23 billion with US tech giants, including Nvidia, AMD, Amazon Web Services, and Qualcomm. Based on current market rates, the cost of the overall project is estimated at $77 billion, according to Amin. The company aims to handle 7 percent of global AI model training by 2030, focusing on both model development and inferencing capabilities. 'There are two paths you could take: you take it slow, and we are definitely not taking it slow, or you go fast. Whoever reaches the end line first, I think, is going to secure a good chunk of the market share,' Amin said. Saudi Arabia, like the UAE, is prioritizing collaboration with US tech companies to address American concerns over potential technology transfers to China — despite China being the region's largest trading partner. Amin stressed the strategic value of US partnerships, noting, 'If you go and look at our suppliers, you'll discover that we were deliberate on the partnerships and the choices that we have picked . . . we did not want to make mistakes.' The initial phase of HUMAIN's data center park will include a 50-megawatt facility powered by 18,000 Nvidia chips, expected to be operational by next year. Future expansions aim to scale capacity up to 500MW, ultimately requiring 180,000 chips. In a $10 billion joint venture with AMD, the company plans to deliver 500MW of capacity over five years. HUMAIN is also investing $2 billion with Qualcomm to build data centers and strengthen chip design capabilities in the Kingdom. As part of the agreement, Qualcomm will establish a chipset design center in Riyadh, employing 500 engineers, although the firm has no plans to manufacture chips. Amin stated that chip procurement from US suppliers will begin within the next 30 days and expressed confidence that the initiative will gain support from the Trump administration. This development follows Washington's recent announcement to revoke a Biden-era regulation restricting AI chip sales to countries such as Saudi Arabia. A replacement rule is expected to be introduced. Addressing data privacy and security concerns, Amin said HUMAIN will provide real-time inventory access for clients to audit data usage instantly. He added that new legislation in Riyadh is expected to ensure data centers comply with the legal framework of the client's home country. HUMAIN's launch supports Vision 2030, Saudi Arabia's sweeping economic diversification plan. The company is expected to foster local innovation, drive intellectual property development, and attract leading global AI talent and investment.
Leaders
23-05-2025
- Business
- Leaders
Cisco, HUMAIN Partner to Revolutionize AI Infrastructure in Saudi Arabia
Global networking giant Cisco has launched a transformative partnership with Saudi Arabia's innovative AI enterprise HUMAIN. This collaboration aims to build the world's most open, scalable, resilient, and cost-efficient AI infrastructure. This ambitious multi-year project merges Cisco's vast expertise with Saudi Arabia's bold vision for AI advancement, setting a new standard for AI infrastructure design, security, and delivery. Shaping the Future of AI Cisco and HUMAIN actively collaborate to redefine how experts design, secure, and deliver cutting-edge AI infrastructure. By combining their strengths, they address the rising demands of AI technologies across industries worldwide. Cisco contributes its renowned networking and security skills, while HUMAIN drives innovation in AI solutions. Consequently, this partnership establishes a foundation for robust, efficient, and accessible AI systems. This initiative focuses on enhancing AI infrastructure accessibility and efficiency for businesses and researchers around the globe. Specifically, Cisco and HUMAIN prioritize openness, scalability, resilience, and cost-efficiency to broaden AI technology access. This approach equips innovators with vital tools to foster creativity and achieve sustainable growth. Moreover, the project tackles the growing complexity and scale of modern AI applications. Elevating Saudi Arabia's Digital Ambition Through this collaboration, Saudi Arabia strengthens its role as a global pioneer in digital innovation and AI leadership. The project supports Vision 2030, which champions technological progress and economic diversification across the Kingdom. By advancing AI infrastructure, Saudi Arabia attracts talent, boosts innovation, and fuels economic and research development. Saudi Minister of Communications and Information Technology Abdullah Alswaha hailed the project stating, 'This investment significantly advances world-class AI infrastructure and accelerates innovation across the Kingdom.' He added, 'It fosters a thriving AI economy driven by Saudi talent, solidifying our regional leadership.' HUMAIN CEO Tareq Amin stated, 'This partnership invites global innovators to join a transformative AI revolution.' He emphasized, 'We democratize AI computing, ensuring imagination, not infrastructure, sets the only limit.' Cisco CEO Chuck Robbins said, 'AI unlocks vast opportunities for economic growth and innovation, fast-tracking Vision 2030 goals.' He concluded, 'This milestone builds on 25 years of partnership, empowering sectors to lead the AI revolution.' Short link : Post Views: 4
