Saudi-owned Humain to launch $10bn AI-focused VC fund this summer

user icon
GHADA.ISMAIL
calender icon
May 28, 2025
article image

Riyadh – Sharikat Mubasher: Saudi Arabia’s AI company Humain, owned by the kingdom’s Public Investment Fund (PIF), is preparing to launch a $10 billion venture capital fund this summer, according to CEO Tareq Amin in an interview with the Financial Times.

The fund will target startups across the U.S., Europe, and parts of Asia, with the goal of accelerating the kingdom’s global ambitions in artificial intelligence.

Amin revealed that Humain is in talks with major U.S. tech players, including OpenAI, Elon Musk’s xAI, and venture capital firm Andreessen Horowitz. While he did not name the company likely to become a key data center partner, Amin said discussions are underway with several major players, hinting that an announcement is imminent.

Backed by $23 billion in signed agreements with U.S. tech giants such as Nvidia, Qualcomm, Amazon Web Services, and AMD, Humain is also advancing a mega data center project.

The facility, in partnership with Nvidia, will launch with 500 megawatts of capacity and aims to reach 6.6 gigawatts by 2034. Estimated costs currently stand at $77 billion.

The launch of Humain was announced by Crown Prince Mohammed bin Salman earlier this month as part of Saudi Arabia’s broader AI strategy. 


Share

Related News

NLFDP approves launching business accelerators to spur sector growth
News
Calendar Icon
August 7, 2025
NLFDP approves launching business accelerators to spur sector growth
Read More
Riyadh Air expands global footprint with Amadeus partnership
News
Calendar Icon
August 7, 2025
Riyadh Air expands global footprint with Amadeus partnership
Read More
Monsha’at brings “Jadeer” Tour to Al-Khobar to support SME growth
News
Calendar Icon
August 7, 2025
Monsha’at brings “Jadeer” Tour to Al-Khobar to support SME growth
Read More
NextGen Pitch returns to spotlight healthtech startups at GHE 25
News
Calendar Icon
August 7, 2025
NextGen Pitch returns to spotlight healthtech startups at GHE 25
Read More
PIF, Golf Saudi unveil ‘Future Fairways’ platform
News
Calendar Icon
August 7, 2025
PIF, Golf Saudi unveil ‘Future Fairways’ platform
Read More
ASMO begins procurement services, expands with new Jazan warehouse
News
Calendar Icon
August 6, 2025
ASMO begins procurement services, expands with new Jazan warehouse
Read More
Groq, HUMAIN launch OpenAI’s latest models in Saudi Arabia
News
Calendar Icon
August 6, 2025
Groq, HUMAIN launch OpenAI’s latest models in Saudi Arabia
Read More
Huawei Cloud hosts 2025 Developer Conference in Riyadh
News
Calendar Icon
August 5, 2025
Huawei Cloud hosts 2025 Developer Conference in Riyadh
Read More
TK Elevator, Alat receive approvals to build elevators locally in €160mn JV
News
Calendar Icon
August 5, 2025
TK Elevator, Alat receive approvals to build elevators locally in €160mn JV
Read More
PIF’s Adeera partners with Qiddiya Investment to elevate Saudi hospitality
News
Calendar Icon
August 5, 2025
PIF’s Adeera partners with Qiddiya Investment to elevate Saudi hospitality
Read More