Latest news with #TareqAmin
Yahoo
a day ago
- Business
- Yahoo
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.
Yahoo
7 days ago
- Business
- Yahoo
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 these companies 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. This article originally appeared on TechCrunch at
Arab News
7 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.
TechCrunch
7 days ago
- Business
- TechCrunch
Humain planning $10B VC fund to invest in US, European and Asian startups
In Brief 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 these companies 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.
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
