The Saudi state-owned company Humain plans to raise $2.5bn from international and local investors to fund the construction of data centres in Saudi Arabia, Bloomberg reports, citing informed sources.
According to the sources, the fund’s proceeds will be used to build a data centre with a capacity of around 250 MW, which Humain is constructing in partnership with Al Moammar Information Systems. Over time, the centre’s capacity could increase to 1 GW.
The funds are expected to be raised through debt and equity offerings, the sources said. The process will begin once approval has been obtained from the Capital Market Authority (CMA), which is expected to take two to three months.
Humain was established in May 2025 to develop AI technologies in Saudi Arabia. It is owned by the Saudi sovereign wealth fund, the Pacific Investment Fund (PIF).